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How Big is the Demand for Bathroom Remodels?
Residential Bath Industry Size
Bath Tune-Up is in high-demand in the enormous kitchen & bath market industry valued at $173 billion. The bathroom market size represents $89.1 of the total market share. Bath remodels remain one of the highest-ranked investments among all home improvements. Did you know most bath remodeling projects require that the customer go to 3-5 different showrooms to select the products needed for the project? And that most consumers put off remodeling just because of the decision-fatigue that is common with this process? We found the answer with our full service bath remodeling concept.
Bathrooms have always been a popular remodeling choice and the industry is expected to grow by 4% through 2027 according to GM Insights.
- Nearly 9 in 10 (86% of homeowners) relay on a profession to do a bath renovation (an increase by 5% compared with last year).
- One in 5 homeowners (or 22%) will enlarge the size of the bathroom during a home renovation, and 1 in 6 (17%) creates a larger bathroom footprint with an addition.
Source: 2023 U.S. Houzz Bathroom Trends
Two of the most common reasons for a bath remodel include:
- Aging Population – Over 66% of homeowners assess their special needs for a bath remodel. And almost 44% of homeowners are preparing for those special needs within the next five years.
- Remodels Command More Money: The median spend on all bathroom remodels has grown by 50%. The median spend for major and minor renovations have increased by 33% and 60%, respectively.
Source: 2023 U.S. Houzz Bathroom Trends
According to NKBA, households indicate that improving the home’s aesthetics are the main motivators for remodels in the bathroom (16%) followed by maximizing quality and durability and increasing the value of the home.
Homeowners completing budget-friendly bathroom remodels focused on updating cabinets (52% of projects) and plumbing (43% of projects).
According to Statista, the main reasons for a bath remodel tend to stay the same year over year:
- Can no longer stand the old bathroom sytle (48%)
- Current/old bathroom deteriorated (33%)
- Want to improve the resale value of the home (28%)
- Can finally afford to remodel it (28%)
- Want to make it more accommodating (24%)
- Purchased a new home and want to personalize (21%)