2021 Construction Market Analysis

Page 25

NOTES:

The Data: Cost Per SQ FT

U.S. CONSTRUCTION COSTS PER SQUARE FOOT

a. Costs represent current construction costs only. Land acquisition, professional fees, permits, FF&E and soft costs are not included. b. Costs are for complete structure shell and interior build-out to five feet out and excludes sitework. c. Costs represent typical specifications for the location identified, and do not account for unique site conditions. d. Cost represents projects built within city limits. Projects buiild in regions adjacent to the municipality may cost less.

An in-depth look at construction costs per square foot in the United States. This construction market analysis includes detailed information on residential, commercial, healthcare, primary and secondary education, higher education, public and community facilities, and parking structures. U.S. Cost per Square Foot of Gross Floor Area 2021 San Francisco

Los Angeles

High (US$/ SF)

Low (US$/ SF)

High (US$/ SF)

Single Family Detached-Medium Quality

$386

$322

Apartment/Condominium-Mid Rise

$584

$449

Single Story

$437

Mid-Rise

$870

High Rise

San Diego

Las Vegas

Seattle

Portland

Honolulu

Denver

Chicago

Nashville

Atlanta

Dallas

Miami

Orlando

Washington, DC

Philadelphia

New York

Boston

Raleigh-Durham

Low (US$/ SF)

High (US$/ SF)

Low (US$/ SF)

High (US$/ SF)

Low (US$/ SF)

High (US$/ SF)

Low (US$/ SF)

High (US$/ SF)

Low (US$/ SF)

High (US$/ SF)

Low (US$/ SF)

High (US$/ SF)

Low (US$/ SF)

High (US$/ SF)

Low (US$/ SF)

High (US$/ SF)

Low (US$/ SF)

High (US$/ SF)

Low (US$/ SF)

High (US$/ SF)

Low (US$/ SF)

High (US$/ SF)

Low (US$/ SF)

High (US$/ SF)

Low (US$/ SF)

High (US$/ SF)

Low (US$/ SF)

High (US$/ SF)

Low (US$/ SF)

High (US$/ SF)

Low (US$/ SF)

High (US$/ SF)

Low (US$/ SF)

High (US$/ SF)

Low (US$/ SF)

$241

$65

$246

$139

$223

$116

$310

$258

$294

$245

$355

$296

$383

$115

$353

$294

$258

$215

$234

$195

$228

$190

$225

$187

$230

$192

$276

$230

$304

$254

$396

$330

$337

$281

$222

$186

$529

$294

$503

$273

$469

$361

$469

$361

$445

$343

$537

$413

$314

$133

$534

$411

$390

$300

$394

$303

$383

$295

$378

$291

$387

$297

$418

$322

$512

$393

$859

$461

$510

$392

$373

$288

$364

$395

$327

$381

$314

$350

$292

$350

$292

$333

$277

$401

$335

$203

$135

$399

$332

$291

$243

$294

$245

$287

$239

$282

$235

$289

$241

$313

$260

$382

$319

$448

$373

$381

$318

$279

$233

$726

$567

$371

$466

$359

$698

$582

$629

$501

$597

$476

$600

$500

$293

$216

$795

$663

$580

$484

$586

$489

$571

$476

$563

$469

$576

$480

$623

$519

$762

$635

$892

$744

$760

$634

$557

$465

$1,001

$833

$688

$458

$678

$430

$803

$669

$696

$561

$661

$533

$690

$574

$485

$345

$914

$761

$667

$556

$674

$561

$657

$547

$647

$539

$662

$551

$716

$596

$876

$729

$1,026

$854

$874

$728

$641

$533

Neighborhood Strip Center

$449

$375

$298

$165

$294

$163

$361

$301

$361

$301

$343

$286

$413

$345

$309

$258

$411

$343

$300

$250

$303

$253

$295

$246

$291

$242

$297

$248

$322

$268

$393

$328

$461

$384

$392

$327

$288

$240

Regional Mall

$671

$559

$607

$397

$583

$386

$538

$449

$538

$449

$511

$426

$617

$514

$461

$384

$613

$511

$447

$373

$452

$377

$440

$367

$434

$361

$444

$370

$480

$400

$587

$489

$687

$573

$586

$488

$429

$357

Residential

Commercial Office

Retail

Hospitality/Lodging Three-Star Hotel

$731

$555

$661

$425

$482

$348

$587

$354

$452

$376

$429

$358

$535

$459

$502

$364

$635

$483

$463

$353

$493

$333

$480

$336

$473

$350

$484

$358

$523

$436

$640

$534

$749

$625

$638

$532

$468

$317

$1,044

$761

$945

$679

$712

$456

$838

$458

$838

$591

$796

$561

$960

$691

$717

$491

$906

$648

$662

$473

$708

$480

$685

$464

$675

$455

$691

$465

$747

$516

$914

$762

$1,108

$892

$912

$760

$673

$456

Warehouse-Regional Distribution

$315

$225

$285

$203

$273

$194

$253

$180

$253

$180

$240

$171

$289

$207

$216

$155

$288

$206

$210

$150

$212

$152

$207

$148

$204

$145

$208

$149

$225

$161

$276

$197

$323

$231

$275

$196

$202

$144

Warehouse-Light Industrial

$350

$250

$317

$226

$304

$219

$281

$201

$281

$201

$267

$191

$322

$230

$240

$172

$320

$228

$233

$167

$236

$168

$230

$164

$226

$162

$232

$165

$250

$179

$306

$219

$359

$256

$306

$218

$224

$160

Manufacturing-Tech Laboratory

$874

$729

$790

$659

$755

$625

$701

$585

$701

$585

$666

$556

$803

$670

$600

$501

$798

$666

$583

$486

$589

$491

$573

$478

$565

$471

$578

$482

$625

$522

$765

$638

$895

$747

$763

$637

$559

$467

$1,433

$1,075

$1,296

$973

$1,238

$929

$977

$733

$782

$566

$743

$538

$1,455

$1,092

$729

$528

$1,113

$835

$812

$610

$821

$616

$799

$600

$787

$591

$806

$605

$1,025

$770

$1,066

$800

$1,468

$1,102

$1,251

$939

$779

$585

Medical Office Building

$734

$612

$598

$498

$571

$476

$451

$376

$493

$398

$469

$378

$1,018

$849

$429

$357

$570

$475

$416

$347

$421

$351

$410

$341

$404

$336

$413

$344

$526

$438

$547

$455

$753

$627

$641

$534

$399

$333

Specialty Clinic

$918

$765

$748

$623

$714

$595

$564

$470

$663

$553

$630

$525

$1,213

$1,010

$536

$447

$713

$594

$521

$434

$526

$438

$512

$427

$505

$420

$517

$430

$657

$548

$683

$569

$941

$784

$802

$668

$500

$416

Elementary School

$392

$329

$410

$341

$391

$326

$291

$242

$291

$242

$276

$230

$416

$347

$249

$207

$314

$262

$229

$191

$244

$203

$238

$198

$234

$195

$240

$200

$324

$270

$317

$264

$464

$386

$395

$329

$232

$193

Middle School

$431

$362

$448

$374

$428

$357

$318

$265

$318

$265

$302

$252

$455

$380

$272

$227

$344

$287

$251

$209

$267

$223

$260

$217

$256

$214

$262

$219

$355

$296

$347

$289

$508

$423

$433

$361

$253

$211

High School

$475

$395

$493

$411

$471

$392

$350

$291

$350

$291

$332

$277

$501

$417

$299

$249

$378

$315

$276

$230

$294

$245

$286

$238

$282

$235

$288

$240

$390

$325

$382

$318

$558

$465

$476

$396

$279

$233

Academic/Classroom

$742

$618

$774

$645

$739

$616

$617

$515

$617

$515

$587

$489

$707

$589

$474

$421

$703

$586

$513

$428

$518

$432

$505

$421

$497

$415

$509

$424

$612

$510

$674

$561

$876

$730

$747

$622

$493

$410

Laboratory

$823

$640

$962

$801

$816

$637

$853

$711

$853

$711

$811

$675

$977

$814

$687

$553

$971

$809

$709

$591

$716

$597

$698

$581

$687

$573

$704

$586

$761

$634

$931

$775

$1,090

$908

$929

$773

$680

$567

Administration

$742

$628

$799

$666

$735

$626

$638

$532

$638

$532

$606

$505

$731

$609

$493

$412

$726

$606

$530

$442

$536

$447

$522

$435

$514

$429

$526

$439

$632

$527

$696

$580

$905

$755

$772

$643

$509

$424

Dormitory

$411

$344

$426

$401

$407

$343

$340

$276

$340

$276

$323

$262

$390

$316

$291

$237

$388

$315

$283

$230

$286

$232

$278

$226

$274

$223

$281

$228

$337

$274

$371

$301

$483

$392

$412

$334

$272

$220

$767

$474

$759

$627

$599

$463

$673

$557

$673

$557

$640

$529

$771

$638

$576

$476

$767

$634

$560

$463

$565

$467

$551

$455

$542

$448

$555

$459

$601

$496

$735

$607

$860

$711

$733

$606

$538

$444

Five-Star Hotel Warehouse/Manufacturing

Healthcare Acute Care Facility

Primary & Secondary Education

Higher Education

Public/Community Facilities Gov't Adminstrative Buildings Museum/Performing Arts

$1,272

$727

$1,151

$921

$1,099

$707

$1,021

$817

$1,021

$817

$970

$776

$1,169

$935

$874

$699

$1,162

$930

$848

$679

$857

$686

$835

$668

$822

$658

$842

$673

$910

$728

$1,114

$891

$1,304

$1,043

$1,111

$889

$815

$651

Recreation/Gymnasium

$546

$438

$494

$412

$490

$386

$438

$365

$438

$365

$416

$347

$502

$418

$375

$312

$499

$416

$364

$303

$368

$307

$358

$299

$353

$294

$361

$301

$391

$326

$478

$398

$559

$466

$477

$397

$350

$291

Police Stations

$822

$590

$718

$599

$686

$572

$637

$531

$637

$531

$605

$504

$730

$608

$545

$455

$725

$605

$530

$441

$535

$446

$521

$434

$513

$428

$525

$438

$568

$474

$695

$579

$814

$678

$693

$578

$509

$424

Parking Stuctures Below Grade-Multi-Level

$140

$93

$186

$120

$136

$93

$165

$135

$165

$135

$157

$129

$189

$155

$142

$116

$188

$154

$137

$113

$139

$114

$135

$111

$133

$109

$136

$112

$147

$121

$180

$148

$211

$173

$180

$147

$132

$108

Above Grade-Multi-Level

$99

$66

$98

$49

$98

$66

$78

$60

$86

$68

$82

$65

$107

$82

$67

$51

$89

$68

$65

$50

$65

$50

$64

$49

$63

$48

$64

$49

$69

$53

$85

$65

$99

$76

$85

$65

$62

$48

Copyright © 2022 Cumming Management Group, Inc.

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