Luxury vinyl plank flooring costs $2 to $7 per square foot installed, compared to $8 to $15 for hardwood. LVP offers superior water resistance, scratch protection, and easier maintenance—ideal for kitchens, bathrooms, and high-traffic areas. However, hardwood increases home resale value by 2.5% while LVP adds approximately 1%. For desert climates, LVP resists temperature fluctuations better than solid hardwood.
