See How Various Age Groups Are Spending Their Remodeling Dollars

1. Most Homeowners Plan to Stay Put

As mentioned, baby boomers comprise the largest group of renovating homeowners, followed by Gen Xers, as shown here in the pie graph. A smaller share of millennials (9%), who are 25 to 39 years old, and seniors (5%), who are 75 or older, renovated in 2022. Perhaps not surprisingly, Gen Zers, who are ages 18 to 24, made up a nominal share of renovating homeowners (0.1%).

Meanwhile, the majority of renovating homeowners across three generational categories plan to stay in their primary residence for at least another 11 years; those categories are Gen Xers (59%), baby boomers (63%) and seniors (67%). And nearly half of renovating homeowners in the millennials cohort plan to stay in their homes for that long.

For the study, generational categories follow Pew Research Center’s age ranges: Gen Zers (18 to 24), millennials (25 to 39), Gen Xers (40 to 54), baby boomers (55 to 74) and seniors (75 and older).

Many Homeowners Plan to Stay Put and Renovate Rather Than Sell

Bathrooms are popular spaces to renovate among millennials and older generations. This Seattle bathroom by Jessica Nelson Design has a rich atmosphere with green-gray walls, beadboard wainscoting, a wood vanity, zellige-style shower tile and penny tile flooring.

2. Gen Xers Topped Baby Boomers in Spend

In 2022, for the first time since the Houzz & Home Study began collecting data in 2014, Gen Xers surpassed baby boomers in median spend for renovation projects — $25,000 for Gen Xers, compared with $24,000 for boomers.

Millennials and seniors both had a median spend of $20,000.

While Gen Xers invested in kitchen remodels on par with baby boomers — each with a $22,000 median spend — boomers invested more than Gen Xers in bathroom upgrades ($15,000 versus $12,000, respectively).

But millennials’ purchasing power is on the rise. The median spend for this group increased by 33% since 2021 and has doubled since 2020.

How to Choose a Bathroom Vanity: Your Step-by-Step Guide

For this Detroit kitchen, KSI Kitchen & Bath used lots of quartersawn oak cabinets to add style and storage. Sweeping veins in the slab countertops, backsplash and range hood add to the upscale look.

3. Gen Xers Turned to Secured Home Loans

Across all age groups, cash from savings was by far the most frequently used funding source for home renovations in 2022. Nearly 9 in 10 millennials and more than 4 in 5 Gen Xers and baby boomers used their savings to fund home upgrades.

Credit cards were the second-most-used funding source across all age groups in 2022, but millennials relied on credit cards more than older generations.

Meanwhile, Gen Xers relied on secured home loans the most (20%) compared with other generations. Boomers and seniors were more likely than members of any other age group to use cash from a previous homes sale (14% each). And millennials were more likely to use a gift or inheritance (11%) or a tax refund (8%) to fund a home renovation than those in other age groups.

Find a pro to help with your remodeling project

Penberthy Custom Builders overhauled this Houston living room as part of a whole-house remodel. It features a firebox lined with black brick in herringbone pattern. A built-in storage-and-display niche backed with wallpaper complements two patterned armchairs that face an extra-large coffee table placed over a blue ottoman.

4. Millennials Led in System and Interior Updates

Interior updates were the most common projects tackled in 2022 across all age groups. A slightly larger share of millennials tackled interior room remodels — 77%, compared with 75% of Gen Xers, 71% of baby boomers and 68% of seniors.

Millennials also tackled the most home system upgrades (72%) in 2022, compared with 68% of Gen Xers, 63% of boomers and 61% of seniors.

Seniors were the least likely to take on outdoor upgrades (46%), compared with millennials (52%), Gen Xers (51%) and baby boomers (52%).

In the study, “interior room remodels” refers to remodels of kitchens, bathrooms, dining rooms and similar spaces. “Home system upgrades” refers to upgrades of things like electrical, plumbing and air conditioning systems. “Home exterior upgrades” refers to upgrades of windows, roofing and other features. “Additions” are expansions of the home’s footprint by increasing the square footage of kitchens, dining rooms and similar spaces. “Outdoor upgrades” refers to upgrades of structures such as decks and gazebos, features including lawns and fences, and systems such as irrigation and lighting.

See the Decor and Building Products Homeowners Buy the Most

This bedroom in an apartment renovated by architect Lilian H. Weinreich features rich, warm browns and a piece of bold artwork selected by the homeowners’ son, who’s an industrial design student at the Rhode Island School of Design.

5. Millennials Sought Automation and Security

Home office upgrades in 2022 were more popular among millennials (20%) than among Gen Xers (16%), baby boomers (11%) and seniors (9%). About a fourth of homeowners across all age groups updated a primary bathroom in 2022.

But the top priorities for millennials were automation (34%) and security upgrades (31%), as shown in the bottom-right corner of this graphic. Millennials were more likely to take on these types of projects than members of older generations.

The bottom-left corner of this graphic shows that renovating homeowners upgraded windows and skylights more than insulation in 2022.

Multiple windows flood this Los Angeles living room by Pearl Street Custom Homes with California sunshine.

New to home remodeling? Learn the basics

6. Pro Hiring Was Widespread Across Generations

The overwhelming majority of renovating homeowners across all generational groups hired professionals in 2022. Nearly 9 in 10 millennials and Gen Xers relied on pro help, trailing seniors (94%) and baby boomers (92%) only slightly.

Gen Xers and seniors relied on construction professionals the most among all the age groups (46% each), while baby boomers hired the most specialty service providers (48%). Boomers also hired design-related pros most frequently (27%).

In the study, specialty service provider hiring does not include any specialists hired with the help of a construction manager (general contractor, builder, design-build company and/or kitchen or bath remodeler). Construction professionals are general contractors, kitchen or bathroom remodelers, builders and design-build professionals. Design-related pros are kitchen or bath designers, architects, interior designers or decorators, landscape architects or designers, and lighting designers.

Interior design firm Discerning Designs updated this Houston laundry room with terrazzo-look porcelain floor tile and custom cabinets that include a drying cabinet fronted with wire mesh.

7. Lighting Was Preferred Over Large Furniture Outdoors

Decorating often goes hand in hand with renovating, and more than 4 in 5 millennials (82%) who renovated in 2022 tackled a decorating project. The majority of Gen Xers (73%) and baby boomers (64%) also decorated.

For boomers, top decorating projects included large furniture (59%) and storage solutions (46%). When it came to outdoor decorating, lighting was a top priority. More homeowners across all generations purchased lighting over large furniture.

In the study, “interior large furniture” refers to items such as lounge sets, dining sets and dressers. “Outdoor large furniture” refers to items such as lounge sets and dining sets.

This Detroit outdoor area by landscape architecture and design firm Zaremba & Co. features various kinds of outdoor lighting, including walkway lighting and uplighting for the trees.

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