Millennials are not the largest population cohort of home owners. But when it comes to taking care of their houses, they are the biggest spenders, a new report shows.
The study by Angi, formerly Angie’s List, found that the generation born between 1981 and 1996, spent $14,199 on their homes last year, including $2,601 on maintenance and $1,519 on emergencies. Their maintenance spending was the most of any generation.
Generation X, born between 1965 and 1980, averaged $12,956 in spending, the second-most overall. Generation Z, who were born between 1997 and 2012, spent the least at $10,283, but ranked second in both maintenance ($2,261) and emergency ($1,400) spending.
The Silent Generation, born between 1925 and 1945, averaged total home project spending of $12,007, including the second-highest improvement spend ($10,085) and the lowest emergency spend ($140). Baby Boomers, born between 1946 and 1964, spent an average of $12,454 annually and continued to lead improvement spending at $10,423.
The research also found that owner-paid improvement spending shows no signs of slowing. Indeed, more than three out of four millennials told Angi pollsters they plan to take on a major home project in the next five years. That’s the most of any generation.
“We’re seeing millennials renovate rather than relocate,” said Angie Hicks, co-founder of Angi.
Three out of four said mortgage rates are influencing them to improve their current home instead of moving, compared to just 47% across all generations.
“This Millennial trend is reshaping the home improvement market,” Hicks said.
She called millennials the “true renovation generation” — not just because they spend more, but because of how they are redefining what modern homeownership looks like under today’s economic conditions.
As the millennial generation grows its share of the home improvement market, the company, which links owners to contractors, expects their projects to increasingly reflect their priorities.
“That includes a strong interest in design-forward updates, eco-conscious materials, and technology upgrades,” Hicks predicted.
Through all generations, homeowners spent an average of $12,462 on an average of 10 home projects last year, a 3.5% increase from $12,050 on nine projects in 2024
On average, they spent $9,288 on improvements, $2,041 on maintenance, and $1,143 on emergency repairs.
