U.S. office construction costs by select city 2019

For prime offices, New York had one of the highest construction costs in the United States, averaging about 500 U.S. dollars per square foot. For example, a business park office cost about 3,045 U.S. dollars per square meter in New York City. New York City also has some of the tallest skyscrapers in the United States, including the 541-meter One World Trade Center building. Location and topography have a big impact on construction costs, for example, earthquake-prone zones have more stringent building requirements which will affect cost of materials, supplies, and labor. Increased interest in sustainability has also prompted sustainable certification across the country, most noticeably as LEED-registered offices.

U.S. office construction

Office construction has decreased slightly in the U.S. due to an increasingly mobile workforce and focus on efficient floorplans. The United States is projected to put 78.1 billion U.S. dollars worth of new office construction in place in 2023. The U.S. construction market is currently experiencing a shortage of skilled labor, which has impacted the speed at which the industry is growing.

Average construction costs of offices in the United States in 2019, by select city

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Source

Release date

April 2020

Region

United States

Survey time period

2019

Supplementary notes

Figures are Statista calculations, based on low and high building costs in the respective market.

The data in the chart below represents estimates of current building costs in each respective market. Costs may vary as a consequence of factors such as site conditions, climatic conditions, standards of specification, market conditions, etc. Values of U.S. locations represent hard construction costs based on U.S. dollars per square foot of gross floor area.

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