2024 Garage Door Return on Investment is 194%
The 2024 return on investment for garage doors soared to new heights make it one of the best home improvement upgrades.
Garage door replacement has always had a decent ROI, but never have we seen the returns like what was reported in the 2024 Cost vs. Value Report. In previous years garage doors would usually come in the top 5 home improvement projects in regard to ROI. Today, the resale value of your investment nearly doubles that of the job cost.
Before we go any further, let’s define what ROI is.
What is ROI?
ROI stands for Return on Investment. This is the perceived value of an upgrade you make to your home. For instance, if you spend $1,000 on a home improvement project and the ROI is 100%, the perceived value (or resale) of the upgrade you made to the home is $1,000.
What is the Cost vs. Value Report?
The Cost vs. Value report is an annual assessment of ROI (return on investment) for home improvement projects. This data is released by Remodeling Magazine and can be viewed as a whole national average, or you can drill down deeper into the various regions of the United States.
Garage Door Replacement Cost
The Cost vs. Value Report shows the national average job cost for a garage door replacement coming in around $4,513 with an ROI of 193.9%. This return on investment yield took the top spot among all home improvement projects, including entry door replacement, kitchen remodels, and exterior upgrades like stone veneer or fiber-cement siding.
The replacement price of $4,513 for one 16×7 garage door is on the high side, so let’s discuss what type of door they are referring to. This higher cost will be for an upgraded 16×7 steel back insulated garage door with an R-value of at least 12.
The specs on the report show the door to have thermal seals between the sections and 1/2” insulated glass, which is a pricey upgrade. The cost is to replace the garage door, tracks, sections, springs, hardware, rollers, and cables. The automatic opener would stay in place and be reused.
What About My Region?
The Cost vs. Value report allows you to view ROI’s for home improvement projects based on national averages, or you can click into certain regions of the United States to see more detail for a specific area. The return on investment for projects will vary greatly, with some regions coming in much lower, while others may have an even greater resale value.
2024 Cost vs. Value National Averages
Below is a quick sample of the home improvement projects that topped the list in 2024 for having the best returns on investment. As you can see, garage door replacement came in first, with a whopping 194% of the job cost being recouped when the home is sold.
| Project | Job Cost | Resale Value | Cost Recouped |
|---|---|---|---|
| Garage Door Replacement | $4,513 | $8,751 | 193.9% |
| Entry Door Replacement | Steel | $2,355 | $4,430 | 188.1% |
| Manufactured Stone Veneer | $11,287 | $17,291 | 153.2% |
| Grand Entrance | Fiberglass | $11,353 | $11,054 | 97.4% |
| Minor Kitchen Remodel | Midrange | $27,492 | $26,406 | 96.1% |
| Siding Replacement | Fiber-Cement | $20,619 | $18,230 | 88.4% |
| Deck Addition | Wood | $17,615 | $14,596 | 82.9% |
| Siding Replacement | Vinyl | $17,410 | $13,957 | 80.2% |
| Bath Remodel | Midrange | $25,251 | $18,613 | 73.7% |
National averages data was taken from the 2024 Cost vs. Value Report.
Conclusion
There is no better time to replace your garage door. Especially if you are thinking of reselling your home. The added curb appeal along with the massive increase in perceived value should bring increased profits that can be used toward your next purchase. Garage door replacement is the new king of home improvement projects!
