Average cost of metal roofing 2024
With 62% of roofing contractors expecting their metal roof sales to rise in 2024, there’s a reason why metal roofing material has become so popular. Metal roofs offer several benefits, such as increasing your home value by up to 6%, reducing energy costs by 10% to 40%, and lasting about three times longer than the average asphalt roof. Despite the higher upfront cost, the material’s longevity and durability make it a worthwhile investment for homeowners planning to stay in their homes long term.
In addition to their financial and energy-saving advantages, metal roofs are more environmentally friendly than other options. They’re made from 25% to 95% recycled materials and are fully recyclable. Today, the global metal roofing market continues to grow and is projected to increase from a market value of $23.8 billion in 2020 to $33.5 billion in 2030.
Metal roofs can increase your home value by up to 6% and save you 10% to 40% on energy costs, depending on the type of metal and coating.
Jump to insightThe average cost of a metal roof for homeowners is $10,425, with a standing seam metal roof costing between $10 to $16 per square foot and a corrugated metal roof costing $7 to $12 per square foot.
Jump to insightCorrugated metal is the most inexpensive metal roofing material, costing an average of $4 to $7 per square foot. Conversely, copper is the most expensive metal on the market, running between $16 to $30 per square foot.
Jump to insightMetal roofs last an average of 40 to 70 years, are highly resistant to severe weather and are made of 25% to 95% recycled materials. However, they’re also more expensive to install than other roofing materials, noisy and can require costly repairs.
Jump to insightThe global metal roofing market was valued at $23.8 billion in 2020 and, with a CAGR of 3.5%, is projected to reach $33.5 billion by 2030.
Jump to insightMetal roofing statistics
If you’re looking to invest in a metal roof, you should first know that they can increase your home’s resale value by up to 6%. For instance, if a house was worth $300,000, a metal roof could increase that home’s value to an average of $318,000.
On top of adding value, metal roofs can also save you money each month. The average metal roof can lower your energy costs by 10% to 25%, while those with a reflective coating can save up to 40% in energy costs.
All of these factors help to explain why metal roofs have become so popular within the roofing industry. Sixty-two percent of roofing contractors surveyed by Clear Seas Research expected their metal roof sales to rise in 2024.
How much does metal roofing cost?
The average cost of a metal roof for homeowners is $10,425. However, the true cost largely depends on the type of metal used, among other factors. For example, a standing seam metal roof costs between $10 to $16 per square foot, while a corrugated metal roof generally only costs $7 to $12 per square foot.
However, it’s important to note that the price will also largely depend on the specific size and nature of your roof, as well as the market conditions for the metals used. While corrugated metal is the most inexpensive roofing material in 2024, copper is the most expensive roofing metal on the market, costing between $16 to $30 per square foot.
While other factors influence metal roofing costs, including the type of trim, underlayment and panel gauge, 60% to 70% of the total price will come from installation costs alone. Variation in different roofing projects drives the cost of installation, making it somewhat difficult to predict the exact cost of metal roofing prior to a professional estimate.
Why should I use metal roofing?
There are many reasons why you might decide to install metal roofing. As with any roofing material, there are several pros and cons to consider before you make your decision.
Metal roof advantages
- Impressive life span: With a life span of 40 to 70 years, depending on the material, metal roofs are likely to outlive your mortgage payment. Conversely, traditional asphalt roofs last only 12 to 20 years.
- Highly resistant: When properly installed, metal roofs can withstand wind gusts up to 140 mph, resist corrosion and cracking and keep from igniting during wildfires or lightning strikes. This durability comes with the added benefit of less frequent and costly maintenance when compared to other roofing materials.
- Energy efficiency: Metal roofs reduce surface heat by reflecting UV and infrared rays from the sun, allowing you to lower your cooling costs by 10% to 25%.
- Eco-friendly: These roofs are typically made from 25% to 95% recycled materials, with the added benefit of being fully recyclable at the end of their life span. In contrast, most shingle waste ends up in landfills, contributing up to 20 billion pounds of building-related waste annually.
Metal roof disadvantages
- Cost considerations: Though they have a longer average life span, metal roofs are considerably more expensive than other roofing materials. Between the costs of materials and installation, metal roofs can easily cost two to three times more than traditional options.
- Noise and insulation: Metal roofs can be noisier during heavy rain or hail, depending on the type of decking used (spaced or solid). Adding additional attic insulation can reduce noise but will also increase overall costs.
- Expansion, contraction and fasteners: Metals naturally expand and contract as temperatures fluctuate, affecting the life span of fasteners. Neoprene washers and screws may also degrade over time, especially in extreme climates, leading to dislodgement.
- Repair challenges: Repairs or home extensions can present challenges for metal roofs, especially in extreme climates where damage is more likely to occur. This type of roof can be difficult to work with, making repairs for any rust, dents or leaks more expensive. Matching the original roof color can also prove challenging, even for professionals.
Is the metal roofing market expected to grow?
The global metal roofing market was valued at $23.8 billion in 2020 and is projected to have a compound annual growth rate (CAGR) of 3.5% through 2030. By 2030, the market is estimated to reach $33.5 billion. Of the different types of metal roofs, steel roofs make up the largest share of the market, at 44.2%. During the same forecast period, the steel roofing market is expected to have a CAGR of 3%.
FAQ
Is it cheaper to put a metal roof or shingles?
Metal roofing can cost two to three times as much as traditional asphalt shingles; however, this only considers the initial installation costs. Given that metal roofs also last 40 to 70 years, on average, or about three times longer than traditional asphalt roofs, the higher upfront costs are often worth it.
What are the biggest problems with metal roofs?
The biggest issues consumers have with metal roofs include:
- High upfront costs
- Installation issues (especially when installed without professional services)
- Excessive noise when it rains or hails
- Fasteners getting worn out
- Repairing rust, dents or leaks
Do metal roofs leak more than shingles?
Yes, when installed incorrectly, metal roofs have the potential to leak more than traditional shingles. However, when metal roofs are installed correctly they are far more durable under most extreme weather conditions, including rain, hail, high winds and more.
What is the average life span of a metal roof?
Metal roofs last an average of 40 to 70 years. However, the average life span will also largely depend on the specific roofing material and the quality of the installation. For example, pure zinc roofs can last up to 150 years, while corrugated metal only lasts an average of 30 to 45 years.
References
- “Metal Roof Cost: A Price Guide For 2024.” Western States Metal Roofing. Evaluated May 31, 2024.Link Here
- “Pros and cons of metal roofs for your home.” State Farm. Evaluated May 31, 2024.Link Here
- “Metal Roofing Market Size, Share, Competitive Landscape and Trend Analysis Report by Metal Type, Product Type and End user : Global Opportunity Analysis and Industry Forecast 2020-2030.” Allied Market Research. Evaluated May 31, 2024.Link Here
- “How Much Does a Metal Roof Cost? (2023 Guide).” American Society of Home Inspectors. Evaluated May 31, 2024.Link Here
- “Cool Metal Roofing.” Whole Building Design Guide. Evaluated May 31, 2024.Link Here
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