Homeowners are beginning to spend more on home improvements than they have in years. In fact, according to the Emerging Trends in the Remodeling Market report from the Joint Center for Housing Studies, remodeling is expected to see record spending in 2015 and the Portland Metropolitan area is no exception. (See updated stats here)

Since the real estate market crash and slow rebound, many Portland area homeowners and homebuyers are opting for either purchasing existing homes that need to be updated or remaining in their current homes and doing home renovations. The national trend is showing that while the popular renovations of kitchens and family rooms are continuing, the bathroom remodel is becoming the most popular. These home renovation statistics show that a full 30% being spent on improvements are going toward discretionary projects such as new hardwood flooring, kitchens, and bathroom upgrades, as well as room additions.

Portland Remodeling Statistics – Cost vs Value

When you evaluate the Portland remodeling statistics and take into account the cost of doing specific home renovations as compared to the immediate home value impact, the numbers are quite revealing. We looked at the Portland remodeling statistics for mid-range kitchen and bathroom home improvements and the associated costs for the renovations. We also evaluated the average Portland home value improvements for those renovations and here is what we discovered.

Average Portland Area Kitchen Remodel Cost:

The average major kitchen remodel cost in the Portland area is estimated to be $58,124. Yes, you read that correctly. The major kitchen remodel is considered to be a complete gut job, down to bare studs and the average minor Portland kitchen remodel cost is estimated to be $19,672. The minor kitchen remodel is obviously comprised of far less than a total “gut job” and focuses more on cosmetic upgrades to the kitchen.

When comparing the Portland kitchen remodel costs to the expected home value increase and subsequent recoup of the costs of a Portland kitchen remodel, here is what the statistics show.

Mid-range Major Kitchen Remodel:

Cost $58,124  –  Home Value Increase $44,268  –  Cost Recoup 76.2%

Mid-range Minor Kitchen Remodel:

Cost $19,672  –  Home Value Increase $18,567   –  Cost Recoup 94.4%

These statistics are representative specifically for the Portland Oregon area. Here are the national kitchen remodel statistics for the same kitchen remodel types:

Mid-range Major Kitchen Remodel:

Cost $56,768  –  Home Value Increase $38,485  –  Cost Recoup 67.8%

Mid-range Minor Kitchen Remodel:

Cost $19,226  –  Home Value Increase $15,255  –  Cost Recoup 79.3%

As you can see, though the average cost for a mid-range kitchen remodel in Portland is very similar to the national numbers, the home value increase, as well as the immediate cost, and recoup percentage are far more favorable for Portland homeowners as compared to the rest of the country.

Average Portland Area Bathroom Remodel Cost:

The average bathroom remodel cost in the Portland area is estimated to be $17,360. This range of bathroom renovation includes updating an existing average 5×7 foot bathroom with things like bathroom tub/shower and toilet fixtures, ceramic tile surrounds, new faucets, cabinets, solid-surface counter, and new hardwood or tile flooring, etc.

When comparing the average Portland bathroom remodel costs to the expected home value increase and subsequent recoup of the costs of a Portland bathroom remodel, here is what the statistics show.

Mid-range Average Bathroom Remodel:

Cost $17,360 – Home Value Increase $12,798 – Cost Recoup 73.7%

The bathroom remodel statistics are also specifically for the Portland Oregon market. Here are the national bathroom remodel statistics for the same bathroom remodel type:

Mid-range Average Bathroom Remodel:

Cost $16,724 – Home Value Increase $11,707 – Cost Recoup 70.0%

Similar to Portland Kitchen Remodels, bathroom remodel costs in Portland are right in line with the national bathroom remodel cost estimates. Additionally, the Portland area also fares better to the national bathroom remodel home value increases and immediate recouped costs.

Average Kitchen Remodel Supply Costs:

We wanted to further understand the national average cost of supplies for kitchen remodels to help you establish your own budget for a kitchen renovation here in Portland. Looking at the 2015 statistics for a kitchen remodel costs from the Statistic Brain research institute shows the following average costs associated with kitchen remodeling supplies.

Portland Area Remodel Takeaways:

It is clearly a great time to take a look at doing some home renovations in the Portland Metro area. Based on the data, the return on investment for home improvements like kitchens and bathrooms is higher in Portland than other parts of the country. The more you can lower your home renovation costs, while not sacrificing quality and appeal, the better your return will be. Lightening the remodeling costs of your Portland kitchen and/or bathroom upgrades can definitely help you achieve that.

For example, when you look at the national average cost of new wood flooring which ranges from $9 – $12 per square foot, and compare that national average with our best prices on Portland hardwood flooring, you can realize substantial savings on wood flooring alone. This can dramatically reduce your overall kitchen remodeling costs by hundreds and thousands of dollars!