A Comparative Analysis of Maintenance Costs from 2018 to 2023

For landlords and tenants alike, staying informed about evolving maintenance expenses is crucial in today's dynamic market. Recent data we have compiled tracking maintenance expenses sheds light on how these costs have increased significantly between 2018 and 2023. Additionally, the cost of utilizing licensed, bonded and insured vendors is rising at a notable rate. 

According to Realtor.com, average home maintenance costs had reached an all-time high after increasing 8.5% year over year, from $5,984 in 2022 to $6,493 in 2023. 

The below analysis examines a wide range of essential services, empowering both property owners and occupants to navigate the financial aspects of maintaining their home.

Comparative Costs and Insights:

Deep Property Clean

The costs associated with a deep property cleaning have increased notably over the past few years. With the range moving from $150-$300 in 2018 to $400-$600 in 2023, as shown above, it is clear that prices are increasing rapidly. These services are essential for rental property owners who need to ensure the property is thoroughly cleaned prior to tenants moving into the unit. 

Dishwasher Replacement

Dishwasher replacement costs have also seen a significant uptick, rising from $500-$600 in 2018 to $800-$1000 in 2023. This rise in dishwasher replacement pricing may be linked to advancements in dishwasher technology, contributing to the higher cost of more efficient and feature-rich appliances. Inflation also likely plays a role in the increased price of all above items.

Water Heater Replacement

The expenses related to water heater replacements have surged from $850-$1200 in 2018 to $1800-$2000 in 2023. This increase aligns with the rapidly growing demand for energy-efficient and technologically advanced water heating systems in modern households. Because the cost of licensed, bonded and insured vendors has increased notably, this also contributes to the higher prices for repairs. 

Bathroom Faucet Replacement

Costs for replacing bathroom faucets have seen a substantial jump, ranging from $230-$350 in 2018 to $400-$600 in 2023. This could be attributed to a shift towards more intricate and aesthetically pleasing faucet designs, reflecting evolving consumer preferences.

Kitchen Faucet Replacement

Kitchen faucet pricing has risen significantly. Similar to bathroom faucets, the replacement costs for kitchen faucets have increased from $200-$350 in 2018 to $400-$600 in 2023. Soaring costs for licensed, bonded and insured vendors are a major factor driving up repair prices.

Toilet Replacement

Toilet replacement costs have moderately increased from $350 - $500 in 2018 to $450-$600 in 2023. This may be attributed to advancements in toilet technology, such as water-saving features, which could contribute to the higher costs. Additionally, higher costs for qualified workers, like those who are licensed, bonded and insured, are adding to the overall burden of repair bills.

Deep Carpet Clean

The costs for deep carpet cleaning have seen a moderate rise, moving from approximately $500 (25c - 35c per sqft.) in 2018 to $700 (35c - 45c per sqft) in 2023. This increase may reflect the industry's adoption of eco-friendly cleaning practices and materials.

Drain Clearing

Drain clearing costs have seen an increase from $80-$120 in 2018 to $125-$250 in 2023. This escalation could be attributed to the complexity of drain systems and the need for advanced equipment to address more challenging blockages.

Smoke Detector Replacement

Smoke detector replacement costs have also seen a moderate increase from $100-$150 in 2018 to $150-$180 in 2023. While this increase is slightly smaller than some of the other categories, the increased price shows that home maintenance pricing is rising in all categories, regardless of the rate they are rising at. 

It is important to note that California state law requires that we replace smoke detectors and CO detectors with sealed units. Because we can no longer simply replace batteries in smoke and CO detectors like we could in earlier years, it can be more expensive to maintain for property owners. 

Garbage Disposal Replacement

Costs for replacing garbage disposals have risen from $250-$350 in 2018 to $400-$500 in 2023. This increase could be influenced by the demand for more efficient and durable disposal units.

OTR Microwave Replacement

Replacement costs for over-the-range microwaves have seen a slight increase, moving from $350-$450 in 2018 to $450-$600 in 2023. This may be attributed to the integration of advanced features and technologies in modern microwave units.

The comparative analysis of maintenance costs from 2018 to 2023 reveals significant changes in the pricing landscape. By providing clients with insightful information and acknowledging the variability of costs, we empower them to make informed decisions in an ever-changing property maintenance environment.

As the most trusted property management company in Ventura County, CA, we ensure we emphasize any costs or changes in costs associated with maintenance. We believe that transparency in communication is essential, especially in cases where finances are involved. 

To learn more about the services we offer and our pricing, bypass the the hassle and schedule a meeting, or contact us here.