Remodeling Investments Enhance Long-Term Home Value

An analysis of 147 U.S. housing markets shows that five-year home price appreciation has little correlation with the cost burden of major home repairs relative to median household income. Geographic location and household income significantly impact affordability, with repair costs ranging from 9.56% to 37.76% of income across markets. Median income is a better measure of repair cost burden than home appreciation, highlighting the need to consider local income and geographic factors in assessing homeowner risk.