How Much Does Hardwood Flooring Cost In 2023? (2023)

FAQs

Did hardwood flooring prices go up? ›

Prices for hardwood floors have increased anywhere from 15 to 70 percent. The increased lumber costs are due to species scarcity, fuel inflation and a lack of truck delivery. But even if you're not getting all-natural hardwood floors, you may still see a price increase.

Cutting down all of the old growth timber has made it to where there are far less large trees. This means less hardwood over all. This has resulted in major increases in prices for all hardwood products. The cost of hardwood flooring has increased drastically since the year 2000.

The average cost of installing hardwood floors is $3–$10 per square foot for materials and $3–$8 per square foot for labor, totaling $6–$18 per square foot. A single 200-square-foot room might cost $1,200–$3,600, while a 2,000-square-foot house could cost $12,000–$36,000.

The North America wood flooring market size was estimated at USD 7,377.4 million in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 2.4% from 2023 to 2030. The growth is expected to be driven by rising demand for highly durable and aesthetically superior flooring products.

You may have already guessed it, but the floor with the highest resale value is hardwood. Since hardwood is always in demand, it is an easy choice to up level your home.

Hardwood floors are one of the best flooring options for homeowners looking to increase the resale value of their home, with hardwood typically yielding around a 75% return on investment.

Wood Floor Condition

The condition of the flooring is the most significant factor when choosing to refinish or replace. If the damage is mostly superficial, refinishing is usually the best choice. But if the damage is severe and includes rot or water damage, those planks will have to be replaced.

Return on Investment (ROI)

For this reason, you can expect up to 80% ROI and a 2.5% increase in home market value after installation. Hardwood flooring can last for decades when they are correctly cared for. When you're renovating or redecorating your home, you want investments that will last.

The best hardwood floors are made with wood species that are readily available and — you guessed it — very hard. Oak flooring, maple flooring and cherry flooring are all good choices. Other species include bamboo (which is actually a grass), walnut, ash and mahogany.

Is carpet cheaper than hardwood? ›

Most carpet is considerably less expensive than most hardwood materials. And although carpeting does need to be replaced every few years, perfectly acceptable carpeting may be available for less than $1 per square foot. Costs can also run as high as $20 per square foot for the highest quality wool carpets.

Depending on how much you paid for your house, that could easily add 5% to its price. That's exciting, but you have to keep the actual “investment” in mind when you're deciding whether or not hardwood floors are worth it.

Neutral tones like honey, cream, and white will be top choices in 2023. These colors will work well with almost any decor style.

Homeowners are gravitating toward more natural, neutral floor colors that are versatile enough to fit with a variety of living spaces, from dining rooms to bedrooms. Shades of white, cream and honey can be used in homes, luxury condos, and even commercial spaces.

Best known as the traditional color of hardwood flooring, shades of brown are still as popular as ever. Much like tan-toned hardwood, brown flooring is suited for any aesthetic. Lighter tones can set the basis of a neutral design, while deeper tones have the power to convey depth and luxury.

No. 1 Common Grade – Characterized by prominent color variation as well as prominent (but limited in size) character marks such as knots and open checks, as well as variations resulting from drying and machining processes. This grade results in a tasteful floor where prominent variation is to be expected.

When it comes to overall popularity and resale value, dark stained hardwood flooring is the most superb option. Espresso, antique brown, and dark walnut are some of the best dark stains for wood. Because they don't have a yellow or orange tint, these darker colours frequently allow more colour combinations.

Technically, no. Any repair- or maintenance-related expense that's necessary to maintain your home's condition — but doesn't improve its value or life span — isn't considered a tax-deductible home improvement.

If you're in the USA, species like White Oak, Maple and White Ash can be great cost-effective options for a real hardwood floor as they are domestic trees and don't have to be imported.

There is absolutely no need to change flooring from room to room. We often work with homeowners who feel the urge to pick a different flooring for every room of their home, but there is absolutely no need to do this. Your home will look best if you create one consistent look that travels from room to room.

Where should you not put hardwood floors? ›

Hardwood floors should be installed over ¾-inch plywood on or above grade—not in a basement and never directly on concrete.

It's a smart idea; hardwood flooring is preferred by home buyers and renters across the United States so it could improve the resale value of your home when it comes time to sell.. But consider all your options carefully. Here's more about flooring made from hardwood and why you might prefer it to wall-to-wall carpet.

There's no consensus on an exact percentage, but many experts have said it's between 3% and 5%. So replacing carpet with hardwood flooring can definitely make a difference in your selling price. In fact, one study found that 54% of home buyers said they'd be willing to pay more—up to $2,080—for hardwood floors.

Hardwood Flooring During the Humid Seasons

During the hotter and more humid months of the year, hardwood flooring will absorb moisture from the air, which causes it to expand and swell. The expansion of the boards can cause them to warp.

How often can I refinish my floors? Depending on a floor's thickness and the experience of the flooring professional, a floor can be sanded around 4-6 times in its entire life. Hardwood floors can be refinished every 7-10 years, making the 4-6 refinishes more than enough.

Wood floors come with countless benefits, one of them being a long lifespan. Solid hardwood flooring has been known to last up to 100 years, while the engineered version has a life of almost 50 years.

Besides, a properly maintained wood floor can go 20 or 30 years or more before needing to be refinished, says Lupresto. And it can be sanded and refinished "easily six or seven times" over its lifetime, he says.

New flooring can increase the value of a home by nearly 10 to 54 percent. Potential homebuyers say that they will put in a higher offer if a home has new flooring. Potential buyers also said they would reconsider putting in an offer if the flooring is outdated, dirty, or worn.

Darker floors are better suited for larger rooms and open floor plans. Another seemingly unrelated factor to consider is how often you clean your floors. Light hardwood flooring can hide small flaws, dirt, and debris, but anything larger will be very noticeable.

These days, the standard width in hardwood flooring is the 4- or 5-inch wide plank. Curious minds may know that the standard has grown wider with time. These widths are often the go-to because the boards can fit nicely and effectively in most rooms.

What color hardwood floor makes a room look bigger? ›

You may be surprised to learn that dark wood flooring can help to make your room look bigger too. Darker flooring offers an inviting feel and opens up a space. Whether you choose rich colours or softer dark colours, they both have their advantages when it comes to expanding the appearance of a room.

“Buyers like carpet in bedrooms, especially in basement bedrooms, for comfort and warmth.” Carpet is also much quieter to walk on than other types of flooring and can help absorb noise. It can mask sounds, such as footsteps and squeaky floors, Fisher adds.

At the end of the day, the decision between carpet or hardwood floors is primarily based on preference. Many people prefer carpet in bedrooms because they enjoy a softer surface. And in the case of two or three-story homes, carpet can also help reduce noise.

Cover Your Hardwood Floors With Carpet

Carpets don't ruin hardwood floors and are actually a good way to protect them.

Hardwood is easy to clean and offers a striking look. If your stairs are carpeted or have a linoleum covering, replacing them with hardwood can certainly add value to you home.

You don't need to remove carpets before selling a home unless they're in bad condition and you believe they'll compromise the asking price. Many homebuyers prefer hardwood over laminate and carpets since they last longer and have an appealing look. Get ahead and stay ahead.

Better Flooring (Perceptively) Has Better Resale Value

Engineered wood flooring has surpassed solid wood flooring in popularity. Laminate flooring is often considered to have a lower resale value than solid wood or engineered wood.

Wooden flooring will remain a top choice for 2023. 'With all the stresses and strains of daily life – creating a space that provides peace, rest and refuge will be a big trend for 2023,' explains Craig. 'Natural colours, fibres and texture all create a gentle aesthetic that is the perfect ambience to relax and unwind.

Neutral shades such as light brown, gray, and black are timeless classics that will look good for years to come.

Translating the Trend to The Floor: Everything old is also new again for flooring trends in 2023 with laminate, luxury vinyl flooring, natural stone, and the rustic look of hardwood flooring designs giving off serious vintage vibes.

What is a timeless color for hardwood floors? ›

There are two classic and timeless colours that you should consider. Pale and medium brown. Basically, make sure there is no grey or taupe in the floors you're choosing. Which one you should choose, though, depends on the style of your home.

This flooring color truly never goes out of style. It's not going to be the trendiest color on the color wheel, but it's timeless and enduring. You'll find mid-toned brown floors installed in homes from the early 1900s, all the way through modern new builds.

Floors with a white finish go with almost everything. A light burlap-like color is a great choice because you still get a light floor, without installing a truly “white” floor.

There are no hard or fast rules when it comes to whether your floor should be lighter or darker than your cabinets, but as a general rule of thumb, use darker floors with light cabinetry and vice versa. When it comes to striking the right balance between your kitchen cabinets and your floor, contrast is a useful tool.

Grey floors are easier to keep clean than dark brown hardwood floors because they show less dust. Lighter gray floors can make a room feel open and airy, while darker gray stains can visually reduce the space.

New flooring can increase the value of a home by nearly 10 to 54 percent. Potential homebuyers say that they will put in a higher offer if a home has new flooring. Potential buyers also said they would reconsider putting in an offer if the flooring is outdated, dirty, or worn.

When it comes to overall popularity and resale value, dark stained hardwood flooring is the most superb option. Espresso, antique brown, and dark walnut are some of the best dark stains for wood. Because they don't have a yellow or orange tint, these darker colours frequently allow more colour combinations.

When comparing the cost of installing hardwood floors over carpet, quality hardwood flooring will almost always be a larger investment compared to carpet. Installing hardwood floors can cost between $12 and $20 per square foot installed, while carpet often cost about $6 to $12 per square foot installed.

Engineered wood flooring is a better choice in high-moisture environments than solid hardwood, making it a better option for kitchens, bathrooms and basements. But, for whole-house installations, both flooring options offer a wide range of style choices.

Moisture in Spring and Summer

Fall is a perfect season for hardwood flooring installation because the cool, crisp weather exposes your hardwood flooring to less moisture.

Which flooring has the best ROI? ›

Wood floors are one of the best investments you can make. They're durable, versatile, and most buyers love them. According to real estate experts, the average ROI for installing hardwood floors is about 70% to 80%, and wood floors can boost the sales price of your home as much as 2.5%.

For solid hardwood, 20% extra is the norm. For wall-to-wall carpeting, 10% extra should suffice. Depending on the size, an extra 5 to 15% of ceramic tile should be purchased. For vinyl and laminate flooring, 5 to 10% extra is recommended.

Classic medium-toned browns such as cherrywood, mahogany, oak, maple, walnut, birch wood, and hickory are all timeless colors that never go out of style.

Dark hardwood flooring is in style. It makes your home easier to sell and also boosts your home's resale value. Shows off the furniture in the room. Dark hardwood floors have a way of contrasting with lighter colored furnishings.