U.S. residential building construction costs by select city 2019

In 2019, the average construction cost for a single-family home in Honolulu, Hawaii was 535 U.S. dollars per square foot.

United States residential construction

Residential construction for the housing industry in the United States has reached a peak in recent years. More prospective homeowners are considering building a new home, rather than buying one, as a result of the limited availability of already constructed homes, and their high prices. There are several benefits to building a home from scratch, which include not having to worry about immediate repairs, and the ability to make it energy efficient if desired. Some disadvantages include not being able to move in right away, and not being able to negotiate the costs. There are a variety of costs involved in the construction of a new residential building. Interior finishes were one of the most expensive construction cost involved in building single family houses in the United States. The average construction costs for single-family homes in the U.S. has been fluctuating since 1998, but has recently decreased from 2015 to 2017. However, the sale price of a new single-family home has mostly been increasing since 2011.

Average construction costs of residential buildings 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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Statistics on "Multifamily homes in the United States"

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