If you like to fix things around the house and you’re pretty good at it, you might be considering a career as a handyman. With this type of job, you’re often your own boss and can therefore make your own hours and rates. Of course, it’s still good to know what the market is like before you set up a handyman business. Here’s an idea of how much handymen make a year, on average.
The Typical Handyman Income to Expect
In general, handymen in the U.S. earn about $20 per hour, which comes out to about $43,000 per year. But the hourly rate varies quite a bit, ranging from about $12 to $44 per hour. Similarly, the average salary varies from about $25,000 to just under $90,000 per year.
Many handymen who are employees of a company earn overtime and bonuses when they work more, adding thousands of dollars to their income. While handymen who own their own business don’t have this option, they have the freedom to determine their own rates. They can usually boost their income by learning new skills and getting new certifications or licenses in certain areas, such as plumbing and electrical work.
How to Increase What You Make as a Handyman
Whether you run your own handyman business or are employed at a company, there are a few ways to make top dollar in this career. One option is to make sure you live in an area that pays well for this job. For example, the states where handymen make the most money include Alaska, Washington, D.C., Wyoming, Connecticut, and Hawaii. In these states, the annual mean wage for handymen ranges from about $45,000 to $51,000.
Certain metropolitan areas are known for paying handymen well, too. Some of the top cities for handymen include San Francisco, CA; Fairbanks, AK; and San Rafael, CA. In these cities, the annual mean wage for handymen is over $51,000 per year. Of course, in many of these areas, the cost of living may be higher than where you currently live, so be sure to take this into account before you move for this job.
You should also note that your industry can make a difference in your income as a handyman. For instance, handymen who work in the postal service, electrical power generation and distribution, and metal ore mining all tend to make the most, with an average of around $55,000 per year.
Calculate Your Expenses as a Handyman
Before you can figure out what you’ll make as a handyman, you should take your expenses into account. If you plan to find a job with a larger company, you shouldn’t have any expenses of your own.
But if you want to go into business for yourself, you’ll first need to buy any tools you plan to use on the job. You’ll also need a way to get around from one gig to another. Many handymen buy a truck that will fit all their tools so they can easily drive around with a ladder and a large toolbox, to name a few necessities.
But don’t forget that one of your most important expenses as a handyman won’t take up any room in your truck. That’s because it’s an insurance policy that will protect your business in case you damage any property or injure anyone while doing your job. If you want to get some peace of mind as a handyman, you need to be properly covered with the right insurance policy. Fortunately, you can buy a policy that’s meant just for this field. So before you get try to go into business for yourself as a handyman, start getting quotes from insurance companies so you can make sure you’ll be properly covered.