How Much Does It Cost to Replace a Roof in 2022 – Inflation Much?

If you are a homeowner wondering about the cost of a new roof, you’ve come to the right place. In this article, we will cover the most common roofing systems and what you can expect to pay for a complete roof replacement on a typical home.

New metal shingle roof installation

First and foremost, it needs to be stated that consumer inflation has been running wild in the last couple of years, impacting the cost of building materials and the cost of professional labor due to supply chain disruptions and labor shortages. With that being said, we have seen double digits annual increases in residential roofing costs for homeowners in the last two years.

Unfortunately, the inflation shows no signs of slowing down, as consumers are looking to protect the value of their dollars by making all sorts of purchases including major home remodeling upgrades that have been bolstered by the unprecedented gains in real estate values since the beginning of pandemic.

Cost per square foot for most common roof types:

Fiberglass composition shingles (asphalt)

  • 3-tab strip shingles (basic):
  • $4.00 to $6.00 per square foot installed

  • Architectural or dimension shingles (better):
  • $4.50 to $8.50 per square foot installed

  • Premium designer and specialty shingles (best):
  • $6.50 to $9.50 per square foot installed

Metal Roofing

  • Metal shingles, shakes, and tiles (good):
  • $8.50 to $14.50 per square foot installed

  • Corrugated and ribbed metal panels (basic):
  • $4.50 to $9.00 per square foot installed

  • Stone coated steel shingles and tiles (good):
  • $9.00 to $14.50 per square foot installed

  • Standing seam (premium):
  • $10.00 to $18.00 per square foot installed

Concrete and Clay Tiles

  • Concrete tiles (good premium quality):
  • $8.00 to $20.00 per square foot installed

  • Clay tiles (best premium quality):
  • $10.00 to $25.00 per square foot installed

Cedar Shingles and Shakes

  • Cedar shingles (good quality):
  • $8.00 to $14.50 per square foot installed

  • Cedar shakes (premium quality):
  • $10.00 to $16.50 per square foot installed

Composite roofing: Simulated shingles, shakes, and tiles

  • composite shingles:
  • $7.00 to $11.50 per square foot installed

  • composite shakes and tiles:
  • $7.50 to $12.50 per square foot installed

Natural Slate tiles

  • Thinner 50-year slate tiles (good):
  • $10.00 to $18.50 per square foot installed

  • Thicker 100-year slate tiles (best):
  • $12.50 to $22.50 per square foot installed

Average Total Cost to Install a New Roof:

A typical roof can range in size from 1,500 to 3,000 square feet, depending on the size of the house, number of stories/levels, shaped of the roof, etc.

In addition to the main structure aka the house, many homes also have garages whether detach or attached (typically a two-car garage) that may also require a roof replacement.

For our pricing examples, we will be using a 2,500 sq. ft. roof to make the numbers realistic and relevant for the vast majority of homeowners reading our blog.

The pricing examples presented below assume the removal and disposal of the old roof and a professional installation of a complete roofing system and flashing details including drip edge and gable flashing, quality underlayment, Ice-and-water shield in the valleys and at the edges of the roof, ridge vent, etc.

Install Fiberglass composition shingles (asphalt) 2,500 sq. ft.

  • 3-tab strip shingles (basic):
  • $12,500 at $5.00 per square foot installed

  • Architectural or dimension shingles (better):
  • $15,000 at $6.00 per square foot installed

  • Premium designer and specialty shingles (best):
  • $18,750 at $7.50 per square foot installed

Metal Roofing

  • Metal shingles, shakes, and tiles (good):
  • $28,750 at $11.50 per square foot installed

  • Corrugated and ribbed metal panels (basic):
  • $17,500 at $7.00 per square foot installed

  • Stone coated steel shingles and tiles (good):
  • $31,250 at $12.50 per square foot installed

  • Standing seam (premium):
  • $35,000 at $14.00 per square foot installed

Concrete and Clay Tiles

  • Concrete tiles (good premium quality):
  • $31,250 at $12.50 per square foot installed

  • Clay tiles (best premium quality):
  • $43,750 at $17.00 per square foot installed

Cedar Shingles and Shakes

  • Cedar shingles (good quality):
  • $28,750 at $11.50 per square foot installed

  • Cedar shakes (premium quality):
  • $33,750 to $13.50 per square foot installed

Composite roofing: Simulated shingles, shakes, and tiles

  • composite shingles:
  • $23,750 at $9.50 per square foot installed

  • composite shakes and tiles:
  • $26,250 at $10.50 per square foot installed

Natural Slate tiles

  • Thinner 50-year slate tiles (good):
  • $36,250 at $14.50 per square foot installed

  • Thicker 100-year slate tiles (best):
  • $46,250 at $18.50 per square foot installed

As you can see based on the figures presented above, premium roof systems can easily cost three to four times as much as the more traditional asphalt shingle roofs.

The reason for such a wide discrepancy in pricing between these different systems is due to the higher cost of materials for premium roofs like tiles, metal, and natural slate.

Most premium roofs also require more specialized, skilled labor for proper/correct installation that won’t void the manufacturer’s warranty.

FAQ

How long does an asphalt shingle roof last?

Most fiberglass composition shingle roofs last anywhere from 12 to 30 years before requiring a complete replacement. In temperate climates, you can see asphalt roofs lasting close to 30 years without major problems.

The quality of installation is a key component to ensure the longevity of a roof system. Suitability of a given roofing system for the local climate is also an important point of consideration when choosing a new roof.

For example, if you live in place like coastal Florida in a high velocity hurricane zone (HVHZ), you will probably want to install a system that is rated for hurricane-grade wind uplift.

How long do metal roofs last? Metal roofs are often marketed as “Investment grade” roofing, meaning that the durability, longevity, and energy efficiency of metal roof justify the higher initial upfront cost, which can be two to three times as high as asphalt.

However, the contention among the proponents of metal roofing is that with a quality installation, a metal roof can last between 35 to 60 years, which is at least twice as long as asphalt. Energy savings and reduced insurance premiums are often cited as additional benefits of metal roofs.

If you live in a hail-prone area, then a stone coated metal roof can be a great way to protect your roof from damage, as stone coated steel roofs are one of the few systems that comes with a manufacturer’s warranty protecting you from the impact of hail damage.

For reference, while many asphalt shingle roofs can achieve class 4 (highest possible) hail impact damage certification, they are not actually warrantied from hail impact damage by the asphalt shingle manufacturers. In fact, their warranties specifically exclude hail damage coverage. Go figure.

What are the signs I need a new roof soon?

credits: Spok83/Shutterstock

If your roof is over 20 years old and or you see the signs of curling or capping shingles, missing shingles, or cracks in your roof, chances are your roof should be replaced soon to avoid expensive damage from roof leaks.

What is the ROI of a new roof?

Before we delve into the cost-to-value return, a metric popularized by the Remodeling Mag, it’s important to acknowledge that this metric speaks to the extra dollar amount you can fetch from your home at the time of sale.

That said, in a tougher real estate market (areas with waning demand), it may be more difficult to sell a home that needs a new roof badly, in other words, sometimes a new roof may be a pre-condition of a successful sale, especially in the rising interest rates environment when it may be more difficult for the home buyer to secure additional financing to install a new roof after the home purchase is completed.

Now, as we get to the figures based on the information analysis from trusted publications like Remodeling Mag by Hanley Wood, which by and large, focuses on the premium home remodeling market and surveys larger-sized remodeling companies — the ones that charge higher prices for their products and services than smaller contractors do.

So, Hanley Wood’s national average price is somewhat inflated relative to what smaller contractors charge. That said, ROI figures for a new asphalt shingle roof can hoover between 60% and 70%, which is based on HW remodeling survey data over the years.

The cost-to-value-return is ultimately dependent upon the upfront cost of the new roof. Hanley Wood cites the price of $35,535 for a new asphalt shingle roof as its national average in 2022.

The price reflects a roof size of 30 squares or 3,000 square feet, representing a larger home-sized home with a hip roof. Still, at over $10.00 per square foot or $1,000 per square, the price tag HW cites is clearly higher than the true national average.

Again, HW data is skewed towards higher-end remodels based on the inputs from larger remodeling companies that are primary responders to their survey.

Naturally, if every remodeling company surveyed cites a higher price for a typical roof replacement project they do, then it becomes a self-fulfilling prophecy of sorts.

So, the larger remodeling companies are sort of “incentivized” to report higher remodeling prices, as it ultimately benefits their business. We are sure Game Theory would have a good explanation for this. 🙂

According to RemodelingCosts.org, metal roofs can return anywhere from 85% to over 90% at the time of resale (assuming lower upfront cost than the one cited by Hanley Wood), depending on the local real estate market (Northeast offers the highest ROI for metal roofs), and the upfront cost of investment in a metal roof.

On the flip side, Remodeling Mag, sees a cost-to-value return of only 55% for a new steel roof but one with a much higher upfront cost of $51,436 (3,000 square feet roof).

Note: ROI figures don’t take into account things like enjoyment value, longevity of the roof (lifecycle cost), insurance savings, or energy savings from a more energy-efficient roofing system.

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