How Much Does it Cost to Fully Furnish a New Home?
What to expect in terms of cost -- financial and time expenditure -- when you fully furnish a new home
An attempt to furnish a new home is expensive and time-consuming, whether you have help or plan to do it all on your own. Starting from scratch can mean spending tens of thousands of dollars. This can amount to as much as $15,000 before you even get to the home office and patio or backyard. Furthermore, the average American single-family house size is increasing in square footage each year. This means the cost to fully furnish a new home has skyrocketed, even with lower per-item costs overall (due to fast furniture manufacturing).
According to data provided by FRED Economic Data, in January of 2000, furniture and home furnishings stores made $7.24 million. In January of 2020 -- just two decades later -- furniture and home furnishings stores made $10.14 million. Clearly, Americans are either adding more furniture to their homes than before, or are cycling through furniture more quickly than in the past. Either way, Americans are increasing their spending on residential interior furnishings. Follow below to learn more about the true cost to homeowners of fully furnishing a new home.
Average Size of a House in the US
(Left) 3909 Holly Hills Blvd, Saint Louis, MO, Image from Zillow and (Right) 5082 Washington Place, Saint Louis, MO, Image from Zillow
According to the National Association of Realtors’ “2020 Generational Trends Report,” the typical American home “recently purchased was 1,850 square feet." The typical American home in 2020 also had three bedrooms and two bathrooms." The report found that the average “size of homes for buyers 40 to 54 years was typically larger at 2,000 square feet." This was compared to "buyers 22 to 29 at 1,600 and 74 years and older at a median of 1,750.” According to the US Census Bureau brief “2019 Characteristics of New Housing,” the median square footage of a "single-family house was 2,301.00."
The Census Bureau reported that of 903,000 single-family homes built last year, the largest number (45.95%) had three bedrooms, with only 11.3% having two or fewer and 42.75% having four or more. 32.78% of houses built in 2019 had “a patio and porch,” while only 7.86% had “no outdoor features.” Of all the single-family houses sold in 2019 (683,000), the Census Bureau found just about half (304,000) had three bedrooms.
Increasing Size of American Houses
Robert Dietz from EyeonHousing.org reported in his 2019 article “New Single Family Home Size: First Quarter 2019 Data” that homes are getting bigger. Dietz writes that “median single-family square floor area ticked up to 2,355 square feet.” This is "according to first quarter 2019 data from the Census Quarterly Starts and Completions by Purpose and Design and NAHB analysis." Dietz notes that the “average (mean) square footage for new single-family homes increased to 2,584 square feet." According to the NAR's “2020 Generational Trends Report,” the average buyer-seller bought a home 160 square feet larger than their previous house. The National Association of Realtors adds that the average home sold was 1,900 square feet. The average bought was 2,060 square feet in the first quarters of 2020.
Breakdown of Furniture Costs
Child, Master or Guest Bedroom
(Left) Andes Deco Upholstered Bed from West Elm - $1,104 and (Right) Quinn Queen Bed from Pottery Barn - $599
According to Circle Furniture’s blog post “How Much Does it Cost to Furnish a Bedroom?” the cost to furnish a bedroom can range significantly. The company notes that, in general, homeowners should expect to pay between $3,000 and $10,000 per bedroom. Even the most basic furnishings for a bedroom tend to cost above $1,000.00. In 2019, Furnishr estimated the average cost to furnish a basic bedroom would be between $880 and $2,300.00. However, their projection included only the most elementary pieces of furniture in a bedroom: a single nightstand, a bed frame and a mattress. Children’s bedrooms and nurseries typically cost less, with master bedrooms costing the most on average. Bedroom furniture usually includes a bed platform, a mattress and a pair of nightstands. It also typically includes a chest of drawers or other storage like a bench, and a bookcase or desk. This eschews other functional finishings and decor elements like nightstand lights, arm- or desk chairs, rugs and curtains.
By-Item Breakdown
Bedding
(Left) Mitzi Nightstand - Antique Bronze from West Elm and (Right) BJÖRKSNÄS Nightstand from Ikea
Cost analysis by The Cost Guys -- which was conducted through data scraping of Amazon products -- found that the “average price point for a bed frame was about $217” on Amazon in 2019. The report notes that some beds could be purchased for under $100 but many brands offered bed frames ranging “from $800 to over $1,500.” ForRent.com notes that -- as for most furniture -- “there is a wide variety of price points” for mattresses and box-springs. ForRent’s calculations place the cost of a mid-range mattress and box-spring as “about $1,536.” As for nightstands, even the most basic piece -- the simple single-drawer birch BJÖRKSNÄS nightstand from Ikea -- costs over $50, with the BJÖRKSNÄS costing $69.99 before shipping costs and tax. A pair of higher-quality nightstands -- like those from West Elm -- could cost you anywhere from $219 to $1,188.
Storage
As for bedroom storage, the lowest price for a wooden dresser through Overstock.com -- the Baxton Studio Decon Modern and Contemporary Espresso Wood Dresser -- is currently $103.99. The current lowest price for a dresser through West Elm is $424.15 -- for the Gemini 3-Drawer Dresser. Secondary bedroom furniture -- like that used for remote work -- will add anywhere from another couple hundred dollars to an additional thousand. According to PriceItHere.com, consumers in 2020 should “expect to pay somewhere between $100 and $400 for the majority of office chairs, even though you can get more affordable very basic models, and much more expensive deluxe options if you should so desire.” For a desk to pair with your office chair and complete your bedroom workstation, CostOwl.com lists the average cost “anywhere from $200 to $2,000...depend[ing] on the quality of materials, size, and the configuration.” Choosing the average costs listed above for each of these furniture elements -- leaving out nightstand lights, rugs, curtains and other necessary finishings -- the cost to furnish a bedroom has already approached $4,000, weighing in just under at $3,986.07.
Additional Finishings
(Left) Gio Wall Light in Sedona by Ammunition, Available through Gantri - $198 and (Right) Solid Blackout Rod Pocket Single Curtain Panel in Gray, Available through Joss & Main - $13
HomeFlooringPros.com notes you should expect a rug to add another $4.50 per square foot (a 5 x 7’ rug is 35 square feet). As such, a 5 x 7 foot rug could cost upwards of $160. To add a couple nightstand lights -- either as table lamps or floating wall sconces -- you can expect to pay an average of $50 for the pair. Optics.com found that “today, the global average LED lamp retail price is $23.50 per unit.” For a set of curtains and accompanying rod, Home Advisor lists the average cost as $370.00. Professional installation could cost you an additional “$35 to $100 per hour for labor.”
Based on these averages -- with all these elements included -- a single, fully-furnished bedroom would likely cost around $4,566, with more expensive custom or specialty items adding to the overall price. Given that -- according to the U.S. Census Bureau in 2017 -- “64.9 percent of all occupied housing units had two to three bedrooms,” most homeowners can expect a total between $9,132.14 and $13,698.21 to furnish the bedrooms in their home.
Kitchen and Dining Room
(Left) Mid-Century 39"-55" Expandable Dining Table & 4 Framework Upholstered Dining Chairs Set from West Elm - $1,406.75 and (Right) Daphne 35.8” Steel Standard Baker’s Rack from Wayfair - $133.99
According to ForRent.com, “when furnishing the Kitchen and Dining Rooms, the dining set will be the big purchase.” The site recommends consumers be prepared to spend “about $1,118 on a dining table and set of chairs.” The site also recommends budgeting “$135 for additional kitchen shelving and storage” even though “most kitchens will be outfitted with storage and counter space.” Adding a bar cart or wine rack will add -- approximately -- another $50 to $400, depending on size and brand.
If your kitchen comes equipped with a bar, a set of bar stools will add “between $299 and $450” each. This can mean an additional ~$1,500 for a set of four bar stools. If you are planning to add in a pendant light over your dining table, you can expect to tack on a few more bucks. According to RemodelingExpense.com, the average cost of purchasing and installing a pendant light is $165.25 for a basic model. A premium piece can cost closer to $360.00. As such -- on average -- you can expect to shell out around $1,740.63 for your dining room and kitchen without the bar stools.
Living Room or Den
Overview
Your living room will likely cost the most to furnish of any room in your home, given that it is usually largest. According to Circle Furniture’s blog, the cost of furnishing a moderate to high-end “living room starts at around $10,000." However, the cost can quickly "go up to $25,000 or more." The site notes that “you can easily spend much more than this with premium, luxury upholstery and the additions of high-quality rugs and artwork.” Focusing solely on furniture and functional finishings, most living rooms will include a sofa/sectional and a couple chairs. They will also need a coffee table, a rug and a couple lamps.
By Item Cost Breakdown
Seating
(Left) Austin Leather Armchair from West Elm - $934.15 and (Right) Turner Square Arm Leather Return Bumper Sectional from Pottery Barn - $6,098
According to Andrew Zaleski in his article “Where is all the good affordable furniture?“ for Curbed LA, “the average sofa in the U.S. sells for around $1,000,” without about half the list price representing cost of materials. Zaleski explains that “most sofa manufacturers can estimate how long a sofa will last based solely on the price." This is because of the breakdown -- 50% sale markup, 50% materials cost. As such, “when you see a $400 sofa, it's got $200 worth of materials in it. Likewise, a $1,000 sofa has $500 worth of materials. BenchMade Modern’s owner Edgar Blazona explains to Zalenski that a “'$1,000 sofa is probably a three- to five-year sofa.'" As such, you should expect to pay more for a long-lasting couch.
A sectional will cost quite a bit more, however. StyleMeetsComfort.ca notes that a low to mid range sectional typically costs between $1,200 and $2,000.00. The site explains that “a sectional with a chaise priced around the fifteen hundred dollar mark will have some quality features…[but] you will primarily be sacrificing style, upholstery choices and customization.” If you choose to add a couple club- or armchairs, you can expect to add a few hundred extra dollars. According to HomeDecorBliss.com, “you can expect to pay around $200 to $600” for a single chair. The cost of your accent chairs will vary based on “the frame material, craftsmanship, upholstery, designer, and age” of each piece.
(Left) Modern Marble Oval Coffee Table, Natural Oak & Golden Brass, 36"L from Pottery Barn - $1,199 and (Right) Plank Side Table from West Elm - $509.15
Next, you will likely add a couple end tables -- one to pair with your sectional or sofa and another for your club chairs. Most will also add a coffee table in front of the sectional or sofa. According to ForRent.com, on average, the coffee table, end tables, and a low-cost TV stand will add another $760 to the cost of furnishing your living room. HomeDecorBliss.com estimates the coffee table alone to cost between “$200 to $400, [with] high-end designer coffee tables made from with pricier materials likely [to] exceed the $300 or $400-mark.” End tables typically cost around the same amount as nightstands -- $50 each on the low end.
Necessary Finishings
Of course, you might add a television, a bookshelf or a curio cabinet to your living room. However, the last few items most commonly added are a couple lamps, curtains and a rug or two. As mentioned in the “Bedroom Furniture” section of this article, you can expect to spend around $50 for a pair of accent lights. For your living room, you might choose a floor lamp and a table lamp. An area rug will likely cost between $160 and $243 depending on size -- 5 x 7 feet and 6 x 9 feet respectively. HomeFlooringPros.com notes that a rug will add another $4.50 per square foot on average (a 5 x 7’ rug is 35 square feet). A set of curtains will add $370 for every window, contributing significantly to the overall cost to furnish a new home.
Home Office
(Left) Pilsen Brass Bookcase from Crate & Barrel - $699 and (Right) Parsons L-Shaped Desk + File Cabinet Set, White from West Elm - $973.25
Circle Furniture’s blog estimates the cost -- from start to finish -- to furnish a high-end home office to amount to “anywhere between $8,000 to upwards of $15,000.” The site explains that “for some, a home office will be as simple as a desk and office chair." However, "others may want a decked-out office with file drawers, custom cabinets, and a media organizer or credenza.” The site expects consumers to pay between “600 to $1,500” for standard file drawers. It notes you should expect to pay "between $400 to upwards of $5,000” for bookcases or custom cabinets. This pricing all depends on "the customization, size, and material” of each. As outlined above, a desk will likely cost between $200 and $2,000.00. A desk chair will cost between $100 and $400, but can easily amount to more. A home office will also require lighting, so expect another $50 to $100 for task and ambient lighting. Overall -- in their article “How Much Does a Home Office Cost? We Break it Down” -- HomeStratosphere.com estimates an expenditure of “$200 to $5,000” to furnish a simple home office. As such, we can set an average cost at $2,600.
Entryway
(Left) Dayton 42.5" Sideboard Buffet from Pottery Barn - $474 and (Right) Nolan Entryway Hall Tree from West Elm - $1,782.45
For your entryway or mudroom, you might wish to furnish the space with a credenza or hall tree, a rug and a bench. A credenza will likely add a few hundred dollars. The price range for credenzas on Overstock.com is between $214.62 (on sale) to $2,399.00. The range at higher-end retailer Pottery Barn is $474.00 to $1,899.00. A hall tree -- which would replace a credenza in most cases -- will likely cost between $65 for a bare-bones piece and $1,500 for a premium piece. It appears that affordable hall trees will cost around $400.
A wooden entryway bench for easy shoe removal will cost between $70 -- Ikea’s SKOGSTA acacia bench -- and $739 -- West Elm’s walnut Jute Capsule Bench. For an entryway rug, Rugs-Direct.com recommends “allowing at least 18”-24” of floor space between the wall and the edge of the rug." This means that a runner will likely be your best bet. According to Overstock.com, “the standard runner rug is between 2 and 3 feet wide,” so -- at an average cost of $4.50 per square foot -- expect to pay around $25 for your entryway rug.
Porch, Backyard or Patio
According to HowMuchIsIt.org, the cost of your patio or backyard furniture varies based on the size of your space. It also varies based on the needs of your family. For instance, a bistro set consisting of two foldable chairs and a small table will cost between $90 and $250 on average. However, a full dining set for your patio will cost an average of $200 to $2,500.00. The price will depend on “the manufacturer, the material used, the size of the table and the number of chairs.” A lounge chair that either rocks or reclines will cost between $30 and $300, with $30 rather unlikely and $300 quite high. A small set of patio furniture consisting of a “couch, chair and side tables” will likely cost between “$400 to $2000.” On average, homeowners can expect to pay around $1,350 for their patio furniture.
Total Average Estimated Cost to Fully Furnish a New Home
To fully but modestly furnish a new home you can expect to pay around $18,973.63. This projection is based on a typical home -- with an average size of 1,850 square feet and three bedrooms. The patio or backyard will likely cost $1,350 to furnish. The entryway will cost around $829.50. The kitchen and dining spaces will cost around $1,740.63. The living room can be expected to be one of the most expensive rooms to furnish -- around $3,321.50 for a basic arrangement -- while each bedroom will likely cost around $4,566.00. For the three bedrooms -- in which one is a guest or child’s bedroom, another is the master, and the third is a home office (ringing in at $2,600 on its own) -- you can expect to pay around $11,732.00 to only partially furnish a new home.
