Repair study and total cost of homeownership discussion (4 min read)
Here are the results from a recent NAR Housing Opportunities Grant funded study that provide some additional context for our total cost of homeownership discussions. I think results in the Twin Cities core metro area may yield similar results…or worse with the winter being a little more severe. Then you add in damage from natural disasters for greater Minnesota residents and it frames a bit of a looming crisis, especially as any maintenance savings may be used for basic living expenses with insurance and living needs in the current economy. (I believe MN is currently 3rd highet on the list of insurance claims currently.) Perhaps this information will resonate with your market too.
ST. LOUIS (Sept. 29, 2026) – Findings from a first-of-its-kind study examining unmet home repair needs across St. Louis County, titled The Hidden Housing Crisis: Needed Repairs for Single-Family Homes in St. Louis County, were publicly released on Sept. 29 during a luncheon hosted by St. Louis REALTORS® and the University of Missouri-St. Louis Community Innovation and Action Center. The research sheds new light on the scale of housing repair needs throughout the county and underscores the role home repairs play in preserving affordable housing, protecting household wealth, supporting aging in place and improving physical and mental health.
Key findings from the study include:
The average single-family home in St. Louis County needs $9,146 in repairs.The total cost to address all needed repairs countywide is estimated at $2.92 billion.Low-income households account for approximately $732 million in unmet repair needs.The average home is 62.3 years old, significantly older than the national average of 44 years.Nearly 22% of respondents report damage from severe weather, including the 2025 tornado.Weatherization, basement sealing and electrical improvements are top repair needs.More than 40% of respondents report having at least one leak in their basement. Those "extremely worried" they would need to move out in the next few years cite needed repairs averaging more than $25,000. Here is the link to the white paper from St Louis REALTORS®
Oct 16, 2026 – 12:45 PM CDT
Posted by: Byron King on 10/20/26 (This information is only accurate as of 10/20/26. You must contact SCR for updates and changes to this information after 10/20/26, as laws and regulations may change over time. SCR 803-772-5206 or email info at screaltors.org or email byron at screaltors.org
This information is not legal advice. This information is intended only to provide general information and may not be relied upon as specific legal guidance. Legal counsel should always be consulted before acting in reliance on this information.