240+ House Flipping Statistics: Profits & Pitfalls Revealed (2025)

This article compiles 240+ house-flipping statistics from REsimpli’s study and other trusted sources to provide investors with market insights for 2025. 

Covering everything from market activity and profitability to regional performance and financing methods, the data shows that despite decreased flipping activity from pandemic peaks, strategic investors still achieve profits averaging $40,000-$70,000 per flip in favorable markets.

Top House Flipping Statistics: Editor’s Pick

House flipping remains a highly profitable real estate investment strategy in 2024. These statistics showcase the impressive returns, market trends, and regional differences that make fix-and-flip a standout option for investors looking to maximize their profits in today’s housing market.

• Fix and Flip is the most profitable exit strategy for investors, delivering an impressive $40,836 in average profit per deal in 2024 
• Fix and Flip for investors was the most profitable exit strategy by $11,239, ahead of wholesaling in 2024
• 7.2% of all home sales in the third quarter of 2024 were flipped 
• 74,618 single-family homes and condos were flipped in Q3 2024 
• The average return on investment (ROI) for house flipping in Q3 2024 was 28.7% 
• The average gross profit for house flipping in Q3 2024 was $70,250 
• The average flipper makes around six figures, specifically $117,372 per year 
• Pennsylvania generated the largest ROI in Q2 2024 at 80.2% 
• Pennsylvania’s ROI is down from 90.9% a year prior 
• Only Maryland and Illinois had average ROIs over 60% in Q2 2024 

Market Volume and Activity

Understanding the scale and trends of house-flipping activity provides crucial context for investors. These statistics reveal how flipping volume has evolved over time, peaking in 2022 at 10% of home purchases before moderating to around 7-9% of all sales in recent quarters, with significant regional variations across the country.

• 7.2% of all home sales in the third quarter of 2024 were flipped 
• 74,618 single-family homes and condos were flipped in Q3 2024 
• This is down 5% from the previous quarter and 1% from the previous year 
• Home flipping peaked in the first quarter of 2022 at 10% of home purchases 
• In 2020, 241,630 properties were flipped
• In 2021, 323,465 properties were flipped 
• In 2022, 407,417 properties were flipped 
• In 2023, 308,922 properties were flipped 
• In Q1 2024, 67,817 properties were flipped
• In Q2 2024, 79,540 properties were flipped 
• 308,922 single-family homes and condos were flipped in 2023 
• The number of home flips in 2023 decreased by 29.3% compared to 436,807 flips in 2022 
• The decline in home flips in 2023 was the largest annual drop since 2008 
• Home flips as a percentage of all home sales declined from 8.6% in 2022 to 8.1% in 2023 
• Flips represented 8.7 percent (one of every 12 home sales) nationwide from January through March 2024 
• The 8.7% portion was up from 7.7% in Q4 2023 
• The 8.7% portion was down from 9.8% in Q1 2023 
• House flipping volume increased by 14% in Q1 2023 compared to the previous quarter 
• Flipped homes made up 9% of all home sales in Q1 2023 
• In 2017, house flips accounted for 5.7% of all home sales, increasing to 8.4% in 2022 and 9% in Q1 2023 
• The total number of flipped homes in Q1 2023 was 72,960 single-family homes and condos in the US 
• 5.9% of all home sales in 2020 were flipped homes 
• Home flipping rates decreased in 64% of local markets analyzed 
• Between 241,000 and 407,000 houses were flipped in the US annually over the past 5 years 
• In the second quarter of 2023, 84,350 single-family homes and condominiums were successfully flipped across the United States 
• House flipping constituted 8% of all home sales from April to June 2023 
• Flipping activity decreased from 9.9% in Q1 2023 to 8% in Q2 2023 
• Flipping rate was 8.9% in Q2 2022, showing a year-over-year decrease 
• Home flipping rates increased from Q4 2023 to Q1 2024 in 134 of the 173 metropolitan statistical areas analyzed (77.5 percent) 
• Home flips accounted for at least 10% of all home sales in 284 counties, or 31.5% of the 902 counties analyzed
• The 31.5% of counties with 10%+ flipping rates was up from 22.7% in Q4 2023 

Sources: ATTOM, UpNest, New Silver, PR Newswire, The Motley Fool

Profitability and Returns

Profitability metrics represent the most critical data points for house-flipping investors. These statistics reveal how returns have generally declined from their 2016 peak of 49.2% ROI to the current average of approximately 28-30%, while dollar profits have remained relatively stable at $65,000-$75,000 per property in recent years.

• The average return on investment (ROI) for house flipping in Q3 2024 was 28.7% 
• The average gross profit for house flipping in Q3 2024 was $70,250 
• In 2016, house flipping netted an average ROI of 49.2% 
• In 2016, house flipping had an average gross profit of $62,624 
• The average gross profit for house flips in 2024 is about $73,500 
• The average house flip profit is $66,000 
• The average ROI for house flipping is 30.4% 
• The average gross profit in 2020 was $66,300, with an ROI of 40.5% 
• The average gross profit in 2021 was $65,00,0 with an ROI of 31% 
• The average gross profit in 2022 was $67,900, with an ROI of 26.9%
• The average gross profit in 2023 was $66,000, with an ROI of 27.5% 
• The average gross profit in Q1 2024 was $72,375, with an ROI of 30.2% 
• The average gross profit in Q2 2024 was $73,500, with an ROI of 30.4% 
• Gross profits on typical home flips in 2023 dropped to $66,000 nationwide
• Gross profits on typical home flips in 2023 were lower than the $70,100 recorded in 2022 
• The return on investment (ROI) on home flips in 2023 was 27.5% 
• The ROI on home flips in 2023 was lower than the 28.1% recorded in 2022
• The ROI on home flips in 2023 was lower than the 35.7% recorded in 2021
• The 2023 ROI on home flips was the lowest level recorded since 2007 
• Investors saw their profit margins decline for the sixth time in the past seven years 
• Home flippers earned a 30.2 percent gross profit nationwide before expenses in Q1 2024 
• The typical profit margin was about 25 percentage points below peaks hit in 2016
• Profit margins increased for the third time in four quarters 
• Gross profits on typical flips increased to $72,375 in Q1 2024 
• The $72,375 profit was down from a high of about $80,000 reached in 2022 
• The $72,375 profit was up from $65,000 in Q4 2023 
• The $72,375 profit was about $10,000 above the previous year’s low point 
• The average house-flipping success rate is 88%, with 12% of house flips selling at break even or at a loss 
• The average house-flipping gross profit was $56,000 in Q1 2023 
• The average return on investment (ROI) for flipped homes in Q1 2023 was 22.5% 
• The average gross profit for house flipping declined by 12% year-over-year from Q1 2022 to Q1 2023 
• The average gross profit in 2021 was closer to $75,000, according to earlier data 
• The gross profit on typical transactions increased to $66,500 in the second quarter of 2023.
• At the Q2 2023 level of gross profit, the average flipper made a 27.5% return on investment 
• Profit margins increased by nearly five percentage points from Q1 to Q2 2023 
• The house-flipping failure rate was 22% in 2023, meaning 1 in 5 flips did not achieve a profitable sale 
• The average ROI on house flips in Q1 2023 was 22.5%, up from 21.7% in Q4 2022 
• Between 2021 and 2022, Idaho experienced the largest drop in ROI for house flipping, with a 59% decline 
• The average flipping profits were the highest since 2005, with an average gross flipping profit of $66,300, which was above the median purchase price 
• The average return on investment (ROI) for home flips fell to 40.5% of the original acquisition price 
• The average flipper makes around six figures, specifically $117,372 per year 
• Compared to a year ago, gross profit on house flipping has hardly changed, while ROI is down about 3% 
• Fix and Flip is the most profitable exit strategy for investors, delivering an impressive $40,836 in average profit per deal in 2024 
• Fix and Flip for investors was the most profitable exit strategy by $11,239, ahead of wholesaling in 2024

Sources: REsimpli, The Investor’s Edge, ATTOM, UpNest, New Silver, PR Newswire, The Motley Fool, Statista

Regional Performance

The success of house-flipping investments varies dramatically across different regions of the United States. These statistics reveal which states and metropolitan areas are delivering the highest ROIs for flippers, which markets are cooling off, and where unexpected opportunities are emerging in today’s volatile real estate market.

• Pennsylvania generated the largest ROI in Q2 2024 at 80.2% 
• Pennsylvania’s ROI is down from 90.9% a year prior 
• Only Maryland and Illinois had average ROIs over 60% in Q2 2024 
• In 2021, eight states had average returns over 60% 
• Flips in New Jersey brought in the most cash on average: $166,500 
• Montana had the worst ROI in Q3 2024 at just 0.8% ($3,734) 
• Montana’s ROI is down from 6.1% ($22,741) the previous year 
• Ohio’s ROI increased to 50% from 32.7% a year ago 
• Nebraska’s ROI increased to 43.5% from 31.3% a year ago 
• North Dakota’s ROI increased to 29.2% from 17.4% a year ago 
• Delaware’s ROI dropped to 55.6% from 99.1% a year ago 
• Washington, D.C.’s ROI dropped to 21.4% from 38.6% a year ago 
• North Carolina’s ROI dropped to 30% from 42.7% a year ago 
• Ocala, Florida had the best returns for house flippers at 141.5% ROI in Q3 2024 
• Florida has three of the 10 best markets for house flipping by ROI 
• Pennsylvania has three of the top ten metro areas for house flipping 
• San Francisco-Oakland-Hayward in California was the best market by gross profit ($234,000) 
• Warner Robbins, Georgia had the lowest ROI at 1.3% and gross profit of $3,500 
• Six of the 10 worst markets for house flipping by ROI in Q3 2024 were in Texas 
• Pittsburgh, PA had an ROI of 101.8% 
• Scranton-Wilkes Barre-Hazleton, PA had an ROI of 100% 
• Harrisburg-Carlisle, PA had an ROI of 91.3% 
• Cape Coral-Fort Myers, FL had an ROI of 83.4% 
• Pensacola-Ferry Pass-Brent, FL had an ROI of 83.3% 
• Flint, MI had an ROI of 98.9% 
• Columbus, GA-AL had an ROI of 93.8% 
• Johnson City, TN had an ROI of 85.2% 
• Akron, OH had an ROI of 85.0% 
• Killeen-Temple, TX had one of the worst ROIs at 2.3% 
• Boise City, ID had an ROI of just 1.8% 
• Austin-Round Rock, TX had an ROI of 4.5% 
• Urban Honolulu, HI had an ROI of 5.9% 
• Provo-Orem, UT had an ROI of 6.0% 
• Houston-The Woodlands-Sugar Land, TX had an ROI of 6.2% 
• Lubbock, TX had an ROI of 6.6% 
• San Antonio-New Braunfels, TX had an ROI of 6.6% 
• Dallas-Fort Worth-Arlington, TX had an ROI of 6.9% 
• Warner Robins, Georgia, had the highest house flipping rate at 20.7% 
• Macon, Georgia, had a 15.4% house-flipping rate 
• Atlanta, Georgia, had a 13.4% house-flipping rate 
• Columbus, Georgia, had a 13.2% house-flipping rate 
• Memphis, Tennessee, had a 12.8% house-flipping rate 
• Birmingham, Alabama, had an 11.7% house-flipping rate 
• Cleveland, Ohio had an 11% house-flipping rate 
• Columbus, Ohio, had a 10.7% house-flipping rate 
• Portland, Oregon had a 4.2% house-flipping rate (among lowest) 
• San Jose, California, had a 4.1% house-flipping rate (among lowest) 
• Seattle, Washington had a 4% house-flipping rate (among lowest) 
• Honolulu, Hawaii, had a 3.5% house-flipping rate (among lowest) 
• Hilo, Hawaii, had a 3.3% house-flipping rate (among lowest) 
• Buffalo, New York, had 80.5% of house-flips paid in cash 
• Pittsburgh, Pennsylvania, had 76.9% of house-flips paid in cash 
• Cleveland, Ohio, had 75.6% of house-flips paid in cash
• Birmingham, Alabama, had 74.3% of house-flips paid in cash 
• Rochester, New York, had 74.1% of house-flips paid in cash 
• 16.5% of homes in Florida sell for above their asking price 
• 18.2% of homes in Texas sell for above their asking price 
• Largest flipping rates in Q1 2024: Warner Robins, GA (18.7%), Macon, GA (17.1%), Fayetteville, NC (15.8%), Atlanta, GA (14.7%), and Memphis, TN (14.6%) 
• Highest flipping rates among metro areas with a population over 1 million: Atlanta (14.7%), Memphis (14.6%), Columbus, OH (12.8%), Birmingham, AL (12.7%), and Kansas City, MO (12.1%) 
• Smallest home-flipping rates: Honolulu, HI (3.7%), Oxnard, CA (5.3%), Naples, FL (5.4%), Des Moines, IA (5.5%), and Seattle, WA (5.5%) 
• Profit margins increased from Q4 2023 to Q1 2024 in 89 of 173 metro areas analyzed (51.4%) 
• Profit margins increased annually in 111 of 173 metro areas, or 64.2% 
• Biggest year-over-year profit margin increases: Reading, PA (up from 56.7% to 124.9%), Trenton, NJ (up from 22.7% to 64.2%), Harrisburg, PA (up from 73.6% to 113.6%), Lynchburg, VA (up from 49% to 87.5%), and Columbus, GA (up from 41.8% to 80.1%) 
• Largest returns on investment for typical home flips: Buffalo, NY (127.8%); Reading, PA (124.9%), Pittsburgh, PA (120.6%); Scranton, PA (115.7%); and Harrisburg, PA (113.6%)
• Weakest returns in metro areas with at least 1 million population: Austin, TX (0.3%), Honolulu, HI (1.7%), San Antonio, TX (2%), Dallas, TX (5.3%), and Houston, TX (8.4%) 
• Largest raw profits on median-priced home flips: San Jose, CA ($297,500 on $1.6 million resale), San Francisco, CA ($280,000 on $1.1 million resale), San Diego, CA ($190,750 on $926,500 resale), Bridgeport, CT ($175,000 on $500,000 resale), and Oxnard, CA ($162,000 on $929,500 resale) 
• Weakest raw profits: Jackson, MS ($3,873 loss on $185,560 resale), Killeen, TX ($1,209 loss on $208,750 resale), Austin, TX ($1,178 profit on $427,725 resale), San Antonio, TX ($5,144 profit on $258,259 resale), and Honolulu, HI ($10,092 profit on $597,567 resale) 
• Highest percentage of cash-purchased flips in metro areas with 1+ million population: Buffalo, NY (82.2%), Detroit, MI (77.3%), Cleveland, OH (74.8%), Birmingham, AL (73.1%), and Pittsburgh, PA (73%) 
• Highest percentages of flipped properties sold to FHA buyers: Scranton, PA (27.1%), Bakersfield, CA (26.8%), Visalia, CA (26.8%), Yuma, AZ (25.9%), and Flint, MI (25.8%) 
• Highest county flipping rates: Cobb County (Marietta), GA (23.5%), Hickman County, TN (20.3%), Houston County (Warner Robins), GA (20.1%), Clayton County, GA (19.6%), and Douglas County, GA (19.5%) 
• Phoenix, AZ, had the highest house-flipping rate in the US in Q1 2023, with 18% of homes sold being flips 
• New York, NY, had the highest average gross profit per flip at $152,500 in Q1 2023 
• The highest return on investment (ROI) for house flipping was 50% in Pittsburgh, PA 
• Boise, ID, had the lowest ROI for house flipping at just 3% 
• House-flipping activity increased by 21% in Florida in Q1 2023 
• Boise City, Idaho, had an average ROI of just 0.8% in the first part of 2023, down from 2.7% in 2022 
• The average home value in Michigan increased by 2.3% over the last year, reaching $235,361 
• 44% of home sales in Michigan received more than their listing price, with homes selling in just 6 days 
• 40.6% of homes in Michigan were sold below their list price 
• Flint, Michigan, had a house-flipping ROI of 94.9%, while Detroit had an ROI of 68.6% 
• Colorado ranks second-best in the country for house-flipping success, based on factors like remodeling costs, sales rates, and return on investment 
• House flippers in Colorado achieve an average return on investment (ROI) of 53.9%, one of the highest in the nation 
• The average gross profit for house flipping in Colorado is $90,000 per property 
• Denver, Colorado, is ranked as one of the top 5 cities for house-flipping profits in the country 
• Colorado’s average remodeling cost for house flipping is $64,325, while the average home sale price is $548,602 
• Colorado’s January home listings soared by 90% compared to the previous year, showing a rise in inventory 
• The biggest increase in home-flipping ROI was in Philadelphia, PA, where ROI rose from 100% to 107.2%
• The second-largest increase in home-flipping ROI was in Austin, TX, rising from 12.4% to 23.5% 
• Milwaukee, WI, saw home-flipping ROI rise from 64.4% to 76.4% 
• The biggest decrease in home-flipping rates was in San Antonio, TX, which saw a 27.3% drop 
• Home flips as a percentage of all home sales declined in 112 of the 212 metro areas analyzed, accounting for 53% of areas examined 
• The biggest decrease in flipping rates occurred in Gainesville, GA, where rates dropped from 15.1% in 2022 to 9.9% in 2023 
• In Phoenix, AZ, the home-flipping rate decreased from 16.3% in 2022 to 11.9% in 2023 
• In Prescott, AZ, the home-flipping rate decreased from 9.8% in 2022 to 6% in 2023 
• In Charlotte, NC, the home-flipping rate decreased from 14.2% in 2022 to 10.6% in 2023 
• In Provo, UT, the home-flipping rate decreased from 10.9% in 2022 to 7.5% in 2023
• In Las Vegas, NV, the home-flipping rate decreased from 12.2% in 2022 to 8.9% in 2023 
• In Sacramento, CA, the home-flipping rate decreased from 9.9% in 2022 to 6.9% in 2023
• In Tucson, AZ, the home-flipping rate decreased from 14.6% in 2022 to 11.8% in 2023 
• Metro areas where home flipping rates increased from 2022 to 2023 were led by Macon, GA, where rates increased from 12.1% to 17% 
• In Gulfport, MS, the home-flipping rate increased from 3.9% in 2022 to 7.7% in 2023 
• In Jackson, MS, the home-flipping rate increased from 5.8% in 2022 to 8.4% in 2023 
• In Columbus, GA, the home-flipping rate increased from 10.9% in 2022 to 13.5% in 2023 
• In Dayton, OH, the home-flipping rate increased from 10% in 2022 to 12.4% in 2023 
• Akron, OH showcased an ROI of 116.7% return on typical home flips 
• Pittsburgh, PA delivered an ROI of 112.9% return for house flippers 
• Scranton, PA exhibited an ROI of 93.7% return on investment 
• Hagerstown, MD displayed an ROI of 86.6% return on typical home flips 
• Trenton, NJ secured an ROI of 85% return on investment for house flippers 

Sources: ATTOM, UpNest, Denver Post, Zillow, The Motley Fool

Financing Methods

How house flippers fund their projects is a critical factor that impacts both strategy and potential returns in this competitive market. These statistics reveal current trends in how flippers are securing capital, the shifting balance between cash and financed purchases, and how financing methods are adapting to changing interest rate environments.

• 36% of flips in Q3 2024 were done with financing 
• 37% of house flips were purchased with financing in 2023, compared to 39% in 2021 and 43% in 2017 
• 37% of house flips were financed vs 63% that were paid in cash 
• The percentage of flipped homes originally purchased with financing increased to 36.5% in 2023 
• The percentage of flipped homes originally purchased with financing was up from 35.7% in 2022
• The percentage of flipped homes originally purchased with financing was up from 36.2% in 2021
• 63.9% of flipped homes were purchased with cash in Q4 2023 
• 63.8% of homes flipped in Q1 2024 had been purchased by investors with cash 
• The 63.8% cash purchase rate was virtually the same as 63.7% in Q4 2023 
• The 63.8% cash purchase rate was down from 65.4% in Q1 2023 
• 36.2% of the homes flipped in Q1 2024 had been bought with financing 
• Investors financed 61% of flipped home purchases in Q1 2023 
• The number of flips financed by loans increased by 8% year-over-year 
• The most common financing method for house flipping is hard money loans 
• Interest rates for hard money loans ranged from 9% to 15% in 2023 
• Major challenges flippers identified include affordable capital, sourcing properties, and high-interest rate applications 
• 58.3% of home flips were purchased with cash, while 41.7% were purchased with financing 

Sources: UpNest, ATTOM, New Silver, The Motley Fool

Timeline and Process

The duration and steps involved in flipping houses directly impact profitability and investment strategy in this time-sensitive market. These statistics reveal current turnaround times for house flips, how renovation costs and purchase prices are trending, and how market conditions are affecting the overall flipping process across different regions.

• The average time to flip a home is around 166 days 
• The average time to flip a home in 2023 was 178 days 
• The average time to flip a house in Q1 2024 was 164 days (mentioned indirectly when comparing it to Q2’s 166 days) 
• The average time to flip a home nationwide in 2023 increased to 169 days, up from 165 days in 2022 and 158 days in 2021 
• The average time from purchase to resale on home flips increased to 164 days in Q1 2024 
• The 164-day average was up from 156 days in Q4 2023 
• The 164-day average was down from 178 days in Q1 2023 
• The average time to flip a home in Colorado is a fast 147 days, ranking among the fastest turnaround times in the U.S. 
• The average time to flip a home was 164 days in Q1 2023 
• The average renovation cost per flipped home was $48,000 in 2023 
• The average duration from home purchase to resale for flips increased to 178 days in Q1 2023, up from 165 days in Q4 2022 and 163 days in Q1 2022 
• The average resale price on flipped homes in Q1 2024 increased to $312,375, a 4.1% improvement over Q4 2023 
• The median purchase price that flippers paid was $240,000 
• The median purchase price for flipped homes was $185,000 in Q1 2023 
• During the Spring buying season, the median home price for single-family homes increased by 10% 
• The median price of flipped homes declined by 4.4% in 2023 
• The median purchase price of flipped homes declined by 4% in 2023 
• Nearly 75% of house flippers prefer to purchase distressed properties 
• The number of distressed property sales accounted for 25% of all flips 

Sources: New Silver, PR Newswire, ATTOM, Denver Post

Buyer Demographics

Understanding who purchases flipped homes reveals important insights about market accessibility and investor strategies in the current real estate landscape. These statistics highlight the changing financing preferences of flip buyers and trends in government-backed loan utilization.

• 11.2% of flipped homes were sold to buyers using FHA loans in Q1 2024 
• The 11.2% FHA portion was up from 10.4% in Q4 2023 
• The 11.2% FHA portion was up from 10.7% in Q1 2023 
• 20% of house flippers expected their profits to wane in the future 

Sources: ATTOM, New Silver

Property Characteristics

The specific attributes of properties chosen for flipping significantly impact investment outcomes and strategy development. These statistics provide insights into the types of properties investors are targeting, their acquisition and sale prices, and how property characteristics correlate with financial returns in today’s flipping market.

• The average cost of flipping a condo is $252,518 
• The average sale price for condos was about $348,300 in 2023 
• The average gross profit in Q1 2024 was $72,375, with an ROI of 30.2% 
• Number of home purchases that ended up being flipped in Q1 2022: nearly 126 thousand properties 

Sources: Statista, ATTOM, The Motley Fool

Market Conditions

Market conditions form the essential backdrop for all house-flipping decisions. These statistics compare real estate investments to traditional investment vehicles and highlight regional variations that significantly impact flipping profitability.

• The average stock market return of the S&P 500 is about 10% annually — and 6% to 7% when adjusted for inflation. 
• Colorado’s average home value increased by 10.3% year-over-year, making it a strong market for property investors 
• The national average return on investment (ROI) for house flipping is 31.5%, significantly lower than Colorado’s average 
• The median resale price of flipped homes nationally in Q1 2024 was $312,375, generating a gross profit of $72,375 above the median investor purchase price of $240,000 

Sources: DirectTV, Denver Post, SoFi

Conclusion

House flipping remains profitable despite cooling from 2022 peaks, with significant regional return variations (80%+ ROI in Pennsylvania versus single digits in Texas markets). The statistics reveal a market that increasingly rewards strategic location selection and disciplined cost management. Successful flippers will be those who adapt to localized market conditions in this evolving investment landscape.