Homeowners often are in the dark regarding how much a roof replacement should cost. Along these lines, they may need help understanding what factors influence the overall price of removing and replacing an existing roof with a new one.
This conundrum places homeowners at a significant disadvantage. They may not know whether a given roofing company is offering a fair price to install a new roof. Exactly what is the average roof replacement cost? How is it calculated?
How Much Should An Average Roof Replacement Cost
When the time arrives to replace a dated or worn roof, the average homeowner faces a difficult dilemma. They know that replacing a roof requires a significant financial undertaking. But they generally don’t know what to expect in terms of real dollars. Will it cost $5,000? $10,000? $20,000? More?
Accurately assessing a roof replacement project involves analyzing several factors, including geographical location and type of roofing material. In 2023, according to HomeAdvisor, replacing a roof costs the average homeowner between $5,755 and $12,498, with the median price being $9,117.
Similarly, in 2023, Angi (formerly Angie’s List), Architectural Digest, Forbes Home, and the United States Office of Energy and Renewable Energy estimated the average price of a new asphalt shingle roof to fall between $5,000 and $7,000 on the low end to $15,000 and $21,000 on the high end.
Again, these estimates are rough approximations. Most projects involve a 50-50 split toward labor and materials. Labor costs range broadly between $2 and $7 per square foot (translating to an hourly rate of $40 to $60). The expense for materials varies meaningfully based on supply and demand.
National Trends In The Cost Of A Roof Replacement
In 2023, the reality of inflation significantly impacted the price of labor and materials. With a shortage of qualified labor, roofing installers can demand higher prices for their services. If this trend persists, roofing projects will continue to increase in cost for the foreseeable future.
Likewise, throughout 2022 and 2023, the construction materials industry has experienced a record spike in price (compared to prior years) due to much higher demand. The resulting supply shortage further exacerbates the problem for budget-conscious homeowners seeking value and affordability.
6 Factors That Influence The Price Of An Average Roof Replacement
Accessibility Of Roofing Materials
Many homeowners don’t realize that the availability of building supplies (including shingles, underlayment, flashing, vents, and nails) varies in different regions of the country. What construction items might be widely attainable (and affordable) in the Northwest may be in short supply (and far more expensive) in the Southeast.
Availability Of Labor
The labor supply dramatically impacts the price of a roof replacement project. When qualified workers are plentiful, homeowners benefit from more reasonable pricing. In cases where a labor shortage exists, roofing contractors must pay a premium for their installers (and, unfortunately, pass that added expense on to homeowners).
Per-project pricing largely depends on the home’s geographical area. The identical roof replacement on a home situated on the West Coast likely differs significantly from a home in the Midwest. Similarly, installing a comparable new roof costs (much) more for a home in an upscale suburban neighborhood than in a rural region.
Layout Of Roof
A roof’s design (including the degree of pitch and number/complexity of angles) plays a major role in the price of a roof replacement. A steeply sloped roof commonly adds cost in terms of labor (and, to an extent, roofing materials). Safety considerations also translate into additional expenses for the roofing contractor.
Large-scale natural disasters (e.g., hurricanes, tornadoes, etc.) in concentrated areas affect the demand (and, correspondingly, the supply) for roofing materials. Similarly, weather extremes (cold or hot) may require specific roof supplies (e.g., hurricane clips, additional insulation, etc.) to combat adverse conditions.
The Process Of Securing An Accurate Estimate For A Roof Replacement
Suppose you randomly contact three or four different roofing companies to gain an idea about how much a roof replacement will cost. In that case, you will likely receive three or four separate (and potentially widely divergent) quotes. However, you don’t want to chance it. Some roofers will provide a lowball estimate just to get you to work with them. After completing the job, the final price might be much more than estimated.
At Alan’s Roofing, we don’t mess around. We provide a free written estimate for homeowners throughout Central Florida. The quote is accurate, and there are no hidden surprises. You can trust that the price we quote is the price you will pay for the work specified in the estimate. If you want honest, professional service at a reasonable cost, contact us today to schedule a complimentary initial consultation.