1. Milwaukee-Waukesha, WI
   • Home renovation loans issued per capita: 0.003593
   • Number of home renovation loans issued: 5,606
   • Median loan amount: $65,000
   • Median interest rate: 6.50%
   • Median property value: $365,000
   • Median household income: $120,000
   • Metro population: 1,560,424
2. Raleigh-Cary, NC
   • Home renovation loans issued per capita: 0.003309
   • Number of home renovation loans issued: 4,994
   • Median loan amount: $85,000
   • Median interest rate: 7.49%
   • Median property value: $485,000
   • Median household income: $134,000
   • Metro population: 1,509,231
3. Providence-Warwick, RI-MA
   • Home renovation loans issued per capita: 0.003081
   • Number of home renovation loans issued: 5,170
   • Median loan amount: $85,000
   • Median interest rate: 7.50%
   • Median property value: $475,000
   • Median household income: $114,000
   • Metro population: 1,677,803
4. Pittsburgh, PA
   • Home renovation loans issued per capita: 0.002909
   • Number of home renovation loans issued: 7,048
   • Median loan amount: $55,000
   • Median interest rate: 7.64%
   • Median property value: $265,000
   • Median household income: $105,000
   • Metro population: 2,422,725
5. Portland-Vancouver-Hillsboro, OR-WA
   • Home renovation loans issued per capita: 0.002898
   • Number of home renovation loans issued: 7,273
   • Median loan amount: $75,000
   • Median interest rate: 8.25%
   • Median property value: $585,000
   • Median household income: $132,000
   • Metro population: 2,509,925
6. Denver-Aurora-Lakewood, CO
   • Home renovation loans issued per capita: 0.002788
   • Number of home renovation loans issued: 8,377
   • Median loan amount: $95,000
   • Median interest rate: 8.70%
   • Median property value: $655,000
   • Median household income: $145,000
   • Metro population: 3,005,131
7. Charlotte-Concord-Gastonia, NC-SC
   • Home renovation loans issued per capita: 0.002745
   • Number of home renovation loans issued: 7,700
   • Median loan amount: $85,000
   • Median interest rate: 7.50%
   • Median property value: $465,000
   • Median household income: $121,000
   • Metro population: 2,805,115
8. Columbus, OH
   • Home renovation loans issued per capita: 0.002651
   • Number of home renovation loans issued: 5,779
   • Median loan amount: $75,000
   • Median interest rate: 8.49%
   • Median property value: $375,000
   • Median household income: $116,000
   • Metro population: 2,180,271
9. Minneapolis-St. Paul-Bloomington, MN-WI
   • Home renovation loans issued per capita: 0.002607
   • Number of home renovation loans issued: 9,679
   • Median loan amount: $65,000
   • Median interest rate: 7.88%
   • Median property value: $415,000
   • Median household income: $130,000
   • Metro population: 3,712,020
10. Indianapolis-Carmel-Anderson, IN
    • Home renovation loans issued per capita: 0.002551
    • Number of home renovation loans issued: 5,458
    • Median loan amount: $65,000
    • Median interest rate: 8.25%
    • Median property value: $335,000
    • Median household income: $109,000
    • Metro population: 2,139,689

Data and Methodology

To find where people are doing the most home renovations, SmartAsset reviewed Home Mortgage Disclosure Act data for 2023. Specifically, originated loans intended for home renovations were compared to the size of the local population according to 2023 Census Bureau data. The median income of these homeowners, as well as the subject property value and interest rate, were also considered.