Home Improvement Costs Rise 76% Over Last Decade
Homeowners should plan for higher repair budgets as they stay in their current houses longer.
Updated on Oct. 25, 2026 in Home Repair
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Home improvement and repair costs in the United States surged 76.1% between 2015 and 2025. This sharp rise in project expenses arrives as many homeowners choose to stay in their current residences to hold onto existing mortgage interest rates.
Why it matters
Rising costs for labor and building materials have significantly inflated the price of essential home upkeep. Because homeowners are staying put, the demand for consistent maintenance and renovations has become a larger factor in long-term household budgeting.
The median cost of a home improvement project reached $2,113 in 2025. While routine maintenance costs average $1,433, homes built before 1940 require $1,706 annually compared to just $173 for homes built from 2022 to 2023.
The details
Costs rise as homeowners frequently replace appliances like water heaters, dishwashers, and garbage disposals to extend the life of their properties. Professional services handle 64% of these projects, often requiring higher capital outlay than DIY efforts. Funding for these improvements is primarily sourced from cash savings, which cover 75.7% of all project costs.
Timeline
2015 served as the base year for the 76.1% home improvement cost comparison.
2015-2025 marked the period of sustained increase in total project expenses.
2022-2023 represents the build era for newer homes with significantly lower maintenance needs.
2025 stands as the final year in this decade-long cost analysis.
The Home Front
The jump in renovation costs aligns with a broader trend of homeowners opting for long-term residency over moving in the current interest-rate climate. This shift places a heavier emphasis on proactive upkeep as households work to maintain the value and functionality of their existing properties.
Assess your own maintenance schedule, especially if you own a home built before 1940, to help budget for the average $1,706 annual upkeep cost. Since professional projects have a median cost of $4,103, prioritize major appliance replacements based on their age and manufacturer warranty status.
The takeaway
Maintaining your property while mortgage rates remain high requires careful cash-flow planning and prioritizing essential repairs. Budgeting for professional maintenance, which handles the majority of projects, can help prevent the higher costs associated with emergency repairs.
Further reading
For more tips on managing your budget, visit our guide to Home Repair.
Source note: This article includes information reported by Nwitimes.
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