5 Counties Spend $392M on Remodeling Annually
YOUNGSTOWN, Ohio -- Total home-remodeling expenditures in the five-county region -- Mahoning, Trumbull, Columbiana, Mercer and Lawrence counties -- reaches $392 million annually, finds a new report from the National Association of Home Builders.
When it comes to remodeling dollars spent per household, Nantucket County, Mass., ranks highest with a yearly average of $8,520, the trade group reports. “Residential remodeling is one of the housing industry’s bright spots, and in some parts of the country this is more true now than ever,” said George Moore Jr., NAHB Remodelers chairman and owner/president of Moore-Built Construction & Restoration Inc. in Elm Grove, La.
In the local region, Mahoning County, with 71,548 owner-occupied homes, spent a total of $126 million countywide. Some 77.3% of the homes were built before 1980, and the average remodeling expenditure per home is $1,764.
Next is Trumbull County, with 64,534 owner-occupied homes, 78.9% of which were built prior to 1980. The countywide expenditure is $114 million, or $1,765 per household.
Mercer County, Pa., follows with a total expenditure of $58 million and 35,132 homes; 76.1% are older than 1980, and the per-household expenditure is $1.660.
Columbiana County and Lawrence County, Pa., spent the same amount countywide - $47 million. Lawrence County residents, however, spent a bit more per househound at $1,627 compared with $1,498. Columbiana County has 31,485 owner-occupied homes, 74% of which were built before 1980, compared with a total of 28,592 homes, 78.5% built prior to 1980, in Lawrence County.
Los Angeles County, Calif., leads the nation in total county remodeling expenditures per year at $8.4 billion.
The average value across all counties nationwide for total remodeling expenditures per year is $66 million, according to the National Association of Home Builders. Here is a breakdown of top counties by region:
- West: Los Angeles County, Calif., $8.4 billion
- Midwest: Cook County, Ill., $4 billion
- Northeast: Nassau County, N.Y., $1.9 billion
- South: Miami-Dade County, Fla., $1.7 billion.
The average amount spent on remodeling projects per household nationwide is $1,907. Nationwide, the top counties by region for remodeling spending per home are as follows:
- Northeast: Nantucket County, Mass., $8,520
- West: Marin County, Calif., $7,782
- South: Falls Church City, Va., $6,099
- Midwest: Cook County, Ill., $3,466
Published by The Business Journal, Youngstown, Ohio.