Emergency Home Repair Costs
While we were unable to find enough data to completely answer your question, we estimated that the amount spent annually on emergency home repairs in the United States is about $$80.91 billion and the amount spent each year on emergency HVAC repair/replacement in the US is about $12.95 billion. However, we couldn't determine the amount spent on emergency roofing repairs and emergency siding repairs. Below, you will find more details.
Amount Spent on Emergency Home Repair
- According to American Housing Survey, Americans spent $449.5 billion on home improvement from the beginning of 2015 through 2017. The amount includes unexpected repairs and planned upgrades.
- The above data implies that Americans spend about $149.83 billion each year ($449.5 billion/ 3 (2015 - 2017)) on home improvement per year.
- According to Home Serve, 54% of homeowners have done emergency repairs in the past year.
- If we assume that the number of homeowners that do repairs each year is proportional to the total amount spent on home improvement, it would mean that 54% of the total home improvement market is due to emergency repairs. This will mean that the amount spent on emergency home repairs in the United States each year is about $80.91 billion (54% * $149.83 billion).
- Home Serve also noted that HVAC system repair or replacement accounts for 16% of all emergency home repair cost in the US.
- This will mean that the amount spent each year on emergency HVAC repair in the US is about $12.95 billion (16% * $80.91 billion).
- HVAC repair or replacement accounts for the highest share of emergency home repair expenses in the US.
- Unfortunately, we were unable to find data on the amount spent on emergency roofing repairs or siding repairs, nor any data point that would have enabled us triangulate a reasonable estimate.
- However, given that the second and third most expensive emergency home repair expenses are for overflowing/blocked toilet (14%)and leaking water pipes (12%), the amount spent each year on emergency roofing repairs and siding repairs respectively is likely to be less than $9.71 billion each (12% * $80.91 billion) which is the estimated amount spent on the third most expensive emergency home repair item.
Your Research Team Applied the Following Research Strategy:
To find data on the amount spent on emergency home repairs, emergency HVAC repairs, emergency roofing repairs, and siding repairs in the US each year, our research team extensively searched media, industry sources, market research databases, statistics databases, among others. Sources we searched include Wall Street Journal, Forbes, Nedwallet, Statista, Census Bureau, Housing Statistics, among others. Although we found related information on the housing renovation market in general, we didn't find data pertaining to the emergency repair market for any of the requested data points.
Next, we tried to triangulate the data by looking for the percentage of the repair and renovation market that was due to emergency repairs. We found that the total market was worth $449.5 billion. While we didn't find the exact percentage of the market that was due to emergency repairs, we found data that 54% of homeowners did emergency home repairs in the past year. We used this data point to estimate the data for emergency home repairs in general as explained above. We tried to use this approach to calculate the data for emergency HVAC repairs, emergency roofing repairs, and siding repairs but was only successful for HVAC repairs because after an extensive search we were unable to find any data we could use to triangulate a reasonable estimate of amount spent on either emergency roofing repairs and siding repairs.
We also tried to triangulate the data by looking for data on the total amount spent on roofing and siding and then attempted to find the percentage of either market that is due to emergency repairs. However, although we found data on the market size of the roofing and siding industry in the US, we were unable to find data on the percentage of the market that is due to emergency needs.