Contractors who remodel bathrooms in small homes are making big profits, according to a new study.
The study, conducted by real estate firm Zillow, found that contractors make nearly twice as much as the average house remodeling contractor and a whopping $9 million in total profit from their work.
The study also found that they were more likely to be older, have more senior citizens in their homes, and were more than half of their contractors were white.
The average rent of a typical house remodeled by contractors was $1,000, according the study, which was conducted by Zillows Real Estate Group.
The survey found that of the total $9.6 million profit, more than two-thirds went to the owners of the home.
The majority of the $9,200 profit went to owners of small homes, where homeowners had an average of just $7,800 in total cash income.
The majority went to homeowners who owned more than one home, where the average owner made more than $8,000 in total.
The report found that the majority of all of the profit went toward homeowners who rented their homes.
The survey also found the majority owned a business that sold their property to contractors.
The authors of the study wrote that many of the contractors are “entrepreneurs who are looking for the best deal and are willing to make a big investment in a small project.”