To gain a better understanding of the costs involved in building a single-family home, news and research company ResiClub used data from the National Association of Home Builders' (NAHB) to create a pie chart. The data is from NAHB's construction cost survey, published in 2023, which presents national averages (rather than a specific geographical breakdown) and shows the total construction costs for the “average” single-family home. That home cost $392,241 to build and had an average sales price of $644,750; a sales price that includes construction costs, the finished lot, financing, overhead and general expenses, marketing, sales commission, and profit.
Looking at national averages for itemized costs, NAHB broke down the costs into eight major stages of construction—site work, foundations, framing, exterior finishes, major systems rough-ins, interior finishes, final steps, and other—and a total of 36 subcategories within those eight stages.
Of the 36 subcategories, framing, including the home’s roof, accounts for the biggest chunk at 15.5% of the total construction costs. It’s followed by “excavation, foundation, concrete, retaining walls, and backfill” at 10.1%
Advertisement
Related Stories
Single-Family Homes
Single-Family Permits Increased by 26% During March
The total number of single-family permits reached 241,311 year-to-date, with the West seeing the greatest rise
Affordability
Median US Down Payment Falls by More Than $4,000
The recent decrease in costs is welcome relief for homebuyers, but many West Coast markets remain expensive
Single-Family Homes
US Single-Family Housing Inventory Is Up but Still Below Pre-Pandemic Levels
Housing inventory increased by 83% from the record low for the same week in 2021