Remodeling Cost vs. Value

The average national prices for projects in REMODELING’s Cost vs. Value Report mask vast differences in how much a particular project costs in each of the 101 metro areas surveyed. Particularly for bathroom additions, a midrange project in one city can cost more than an upscale addition somewhere else.

We compare average cost for 21 popular remodeling projects in 149 markets with the value those projects retain at resale in 100 U.S. markets. Check out this year’s trends and how they compare to prior years.

2018 NATIONAL AVERAGES
PROJECT	JOB COST	RESALE VALUE	COST RECOUPED	CHANGE VS 2017
MIDRANGE Backyard Patio	$54,130	$25,769	47.6%	↓
MIDRANGE Bathroom Addition	$44,717	$26,769	59.9%	↑
UPSCALE Bathroom Addition	$83,869	$45,752	54.6%	↓
MIDRANGE Bathroom Remodel	$19,134	$13,422	70.1%	↑
UPSCALE Bathroom Remodel	$61,662	$34,633	56.2%	↓
MIDRANGE Deck Addition (composite)	$17,668	$11,239	63.6%	↓
MIDRANGE Deck Addition (wood)	$10,950	$9,065	82.8%	↑
MIDRANGE Entry Door Replacement (steel) *	$1,471	$1,344	91.3%	↑
UPSCALE Garage Door Replacement	$3,470	$3,411	98.3%	↑
UPSCALE Grand Entrance (fiberglass)	$8,591	$5,809	67.6%	↓
MIDRANGE Major Kitchen Remodel	$63,829	$37,637	59.0%	↓
UPSCALE Major Kitchen Remodel	$125,721	$67,212	53.5%	↓
MIDRANGE Manufactured Stone Veneer	$8,221	$7,986	97.1%	↑
MIDRANGE Master Suite Addition	$123,420	$69,807	56.6%	↓
UPSCALE Master Suite Addition	$256,229	$123,797	48.3%	↓
MIDRANGE Minor Kitchen Remodel	$21,198	$17,193	81.1%	↑
MIDRANGE Roofing Replacement	$20,939	$14,320	68.4%	↓
MIDRANGE Siding Replacement	$15,072	$11,554	76.7%	↑
MIDRANGE Universal Design Bathroom	$16,393	$11,581	70.6%	↑
UPSCALE Window Replacement (vinyl)	$15,955	$11,855	74.3%	↑
UPSCALE Window Replacement (wood)	$19,391	$13,468	69.5%	↓

A couple key trends to be aware of:

Garage Door Replacement at the top of the list for most value/cost recouped.
Backyard Patio at the bottom of the list with least value/cost recouped.
Deck Addition (composite) in the middle of the pack, mid-range value/cost recouped.
Greater shortage of skilled workers in disaster-struck areas (Texas, Florida). Those workers are expected to fix up their own property. Employers pressured to respond with pay hikes.
Out of 20 common remodel jobs, there is an average payback of 56.8%. That’s about a point lower than 2016. Major factors that play into this are rising costs for almost all projects, with value only rising in two-thirds of projects.