Lowe’s spends $250 million to fix massive problem for homeowners 

Owning a house decorated just like a picture-perfect home in Architectural Digest is a dream for many. While some people are lucky and able to make that dream a reality, others spend their whole lives just imagining. 

The national homeownership rate for Q4 2025 was 65.7%, according to February data by the United States Census Bureau, however not every owner is completely satisfied with the state of their property. Moreover, as many as 50% say there are necessary renovations they need right now that they can’t afford, according to a report by Clever Offers. 

Key challenges for homeowners: Repairs: 45% of homeowners are living in homes they consider less safe due to unaddressed repair, according to data from Bold North Roofing. Challenges of finding skilled workers: 70% of Millennial homeowners report difficulty in finding skilled labor, often resulting in project delays or higher costs, writes Angi in its 2025 State of Home Spending Report. Hidden costs: The majority of first-time homeowners are feeling overwhelmed as the “hidden costs” (maintenance, insurance and taxes) now average $15,979 per year, according to a 2025 analysis by Zillow and Thumbtack. 

The home improvement giant, Lowe’s, has just announced a major investment that should help with one of the biggest homeowner challenges listed above. 

Lowe’s invests $250 million to train skilled tradespeople 

Lowe’s Foundation announced on April 7, a massive expansion of its commitment to training the next generation of construction and trade workers. 

As the US faces a major shortage of skilled workers like carpenters, electricians, and plumbers, Lowe’s is making a $250 million commitment to help train and develop 250,000 tradespeople by 2035 through its Gable Grants program, according to the official press release. 

The foundation originally aimed to train 50,000 people with $53 million invested in 65 organizations, but because they reached that goal much faster than expected, they are significantly increasing their efforts.

Key details of the Lowe’s $250M investment: Big investment: Lowe’s Foundation is committing $250 million over the next 10 years.Goal: The money will be used to train and develop 250,000 skilled tradespeople by 2035.School support: They are giving grants to community colleges and nonprofits to help them expand their training programs and hire more instructors.Reaching young people: A special focus will be placed on opportunity youth, targeting young people ages 16 to 24 who aren’t currently in school or working to help them find high-paying careers in the trades.Career opportunities: To improve access, the foundation is growing its partnership with the National Center for Construction Education and Research (NCCER) to enhance its CareerStarter platform, a free service that connects students and job seekers directly with educators, employers and career opportunitiesNew TV series: To inspire people, they are launching a three-part series called “Building Back America’s Trades” on Magnolia Network and HBO Max, which follows real students and their mentors.

“American prosperity is at stake, and we are partnering to solve the workforce gap with a growing force of educators, employers and policymakers who understand local needs. No single organization can do this alone,” stated Marvin Ellison, Lowe’s chairman and CEO and co-champion of the Business Roundtable “Skilled Trades for America” initiative. 

A lack of skilled mechanics, plumbers, carpenters, and electricians 

Recent industry statistics confirm a serious and ongoing shortage of skilled tradespeople across the country. For example, the construction industry was projected to need to attract roughly 439,000 net new workers in 2025 to meet anticipated demand for construction service, according to a 2025 report by The Associated Builders and Contractors.  

“If it fails to do so, industrywide labor cost escalation will accelerate, exacerbating already high construction costs and reducing the volume of work that is financially feasible. Average hourly earnings throughout the industry are up 4.4% over the past 12 months, significantly outpacing earnings growth across all industries,” said ABC Chief Economist Anirban Basu. 

State of skilled workers highlights: In 2026: the industry will need to bring in 499,000 new workers, according to The Associated Builders and Contractors. Difficulty filling specific trades: For every craft, more than 60% of respondents whose firms employ that craft reported difficulty to fill, reveals The Associated General Contractors of America’s (AGC) 2024 survey. The most widely reported difficulty was for mechanics and cement masons, with plumbers, carpenters, electricians, and pipefitter/welders close behind. 

Lowe’s invests $250 million to help train and develop 250,000 skilled tradespeople.

Jonathan Weiss/Shutterstock

Impact on housing and economy 

While every homeowner who lacks the necessary skills, tools, or time to maintain their house feels the lack of tradespeople firsthand, the impact is much greater. The National Association of Home Builders (NAHB) and the Home Builders Institute (HBI) quantify the economic cost of this shortage. 

“The skilled labor shortage is responsible for the lost production of thousands of newly built homes, according to the Home Builders Institute’s (HBI’s) Fall 2025 Construction Labor Market Report. The report quantifies the size and impact of the skilled labor shortage at $10.8 billion per year,” writes NAHB. 

The need for these workers is projected to grow faster than the average for all occupations from 2024 to 2034, according to the US Bureau of Labor Statistics. 

Several industry reports suggest reasons for tradespeople shortages:  

The aging workforce: More than 1 in 5 construction workers are 55 or older, leading to a high rate of retirements, according to NRCA. Lack of credentials and skilled applicants: 43% of firms report that potential employees lack required credentials like driver’s licenses or work permits or clean background checks, according to the Associated General Contractors of America. Moreover, 62% report that available candidates lack necessary skills. Reluctance among undecided youth: “Of those still undecided about career plans, 51% are reluctant to consider a career in the trades regardless of pay,” according to NAHB. 

The stakes go far beyond delayed renovations or higher costs. As Bryan Hancock, a partner at McKinsey, warns, “Our economic progress is at stake. If we don’t have skilled tradespeople to build highways, real estate, and new housing, or we don’t have the workers needed for areas critical for our national defense, our economic prosperity and liberty are at stake.”

More retail:

Home Depot borrows from Domino’s to fix major pain pointWalmart closes stores in key growing market, customers concernedTarget rolls out two major changes to prove its value to customersLowe’s home maintenance service offering HomeCare+

The huge investment comes following a recent move aimed at helping homeowners with regular maintenance and repair. I recently reported about Lowe’s launch of a home maintenance service offering called HomeCare+. 

For $99 a year, a trained store employee, known as a “Red Vest” associate, will visit a home twice a year to perform seven specific maintenance tasks. The subscription has launched nationwide and covers about 75% of U.S. homes.

Lowe’s HomeCare+ subscription services include: Cleaning dryer vents and lubricating garage doors.Flushing water heaters.Replacing filters (HVAC and refrigerator), light bulbs, and smoke detector batteries.

The program is designed to bridge the gap for people who aren’t quite “do-it-yourselfers” but don’t need to hire an expensive professional contractor for minor fixes.

Subscribers who are part of the MyLowe’s Rewards program get extra perks, including 5% off the supplies needed for these visits (like HVAC filters and batteries) and an automatic upgrade to “Gold Status” for faster free delivery and better deals. Later this year, Lowe’s also plans to sell gift cards for the service, marketing them as a helpful gift for elderly parents or first-time homebuyers.

Related: Walmart’s Sam’s Club raising membership prices

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