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How Much Does New Home Construction Cost in 2022? Here’s a Full Breakdown

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New-Construction Projects

How Much Does New Home Construction Cost in 2022? Here’s a Full Breakdown

It's no surprise that new-home construction costs surged amid a supply-chain storm and a labor shortage mid-pandemic, but just how pricey are new residential projects?

September 16, 2022
Newly framed house under construction
Image: Stock.adobe.com

The average cost to build a house in 2022 is $300,000, but that price tag varies state by state depending on availability of labor and materials, Forbes reports. While builder-grade new home construction costs around $150 per square foot, luxury or custom houses can cost upwards of $500 per square foot.

In states like South Dakota and Kansas, new construction projects average a relatively affordable $204,420 and $207,120, respectively, but in states like California and Hawaii, buyers can expect to pay an average of $405,440 and $412,840 for new home construction, respectively.

With housing trends ranging from upcycled shipping containers and self-sustaining homes to sophisticated smart houses with luxurious tubs, it’s no surprise that new builds range from $30,000 to several million. How much you’ll pay for your dream home depends on your taste, location and demand for labor and materials. Consider budgeting in a 15% contingency fund to cover unexpected costs or upgrades that crop up during construction.

For a full breakdown of construction costs in 2022 …

Read more

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