Published On: 12.27.15 | 

By: Bryan Davis

Alabama homeowners spent around $2 billion home improvements during 2015

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Alabama homeowners spent over an estimated $2 billion on home improvements during 2015, according to a recent report.

The National Association of Home Builders released its home remodeling estimates by ZIP code last week. While none of Alabama’s major metro areas were featured in the top cities for home improvement spending, state residents did spend a fair chunk on remodeling throughout the year.

NAHB estimates of the 1.2 million owner-occupied homes in Alabama, owners spent $2.16 billion remodeling at an average of $1,710 per home.

The study was based on five major factors including number of homes, share of homes built in the 1960s, share of homes build during the 1970s, owners average income and level of education.

The Maryland ZIP that was tops on the list, a suburb to Washington, D.C., had 15,000 owner-occupied homes, while the next four (Texas cities) top ZIPs had at least 20,000 owner-occupied homes.

In total, NAHB has estimates on about 25,000 ZIP codes throughout the country.

California led the nation with $15.5 billion in estimated remodeling during 2015.

The Alabama Center for Real Estate‘s core purpose is to advance the real estate industry in Alabama by providing relevant resources in the areas of research, education and outreach.