New York had one of the highest construction costs for prime offices in the United States, at over 600 U.S. dollars per square foot. In addition to the 541-meter One World Trade Center building, New York City also has some of the tallest skyscrapers in the United States.
What element affect construction costs?
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.
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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Rider Levett Bucknall. (January 5, 2023). Average construction costs of offices in the United States (U.S.) in the 4th quarter 2022, by city (in U.S. dollars per square foot) [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/830213/construction-costs-of-offices-in-the-us-city/
Rider Levett Bucknall. "Average construction costs of offices in the United States (U.S.) in the 4th quarter 2022, by city (in U.S. dollars per square foot)." Chart. January 5, 2023. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/830213/construction-costs-of-offices-in-the-us-city/
Rider Levett Bucknall. (2023). Average construction costs of offices in the United States (U.S.) in the 4th quarter 2022, by city (in U.S. dollars per square foot). Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/830213/construction-costs-of-offices-in-the-us-city/
Rider Levett Bucknall. "Average Construction Costs of Offices in The United States (U.S.) in The 4th Quarter 2022, by City (in U.S. Dollars per Square Foot)." Statista, Statista Inc., 5 Jan 2023, https://www.statista.com/statistics/830213/construction-costs-of-offices-in-the-us-city/
Rider Levett Bucknall, Average construction costs of offices in the United States (U.S.) in the 4th quarter 2022, by city (in U.S. dollars per square foot) Statista, https://www.statista.com/statistics/830213/construction-costs-of-offices-in-the-us-city/ (last visited July 22, 2024)
Average construction costs of offices in the United States (U.S.) in the 4th quarter 2022, by city (in U.S. dollars per square foot) [Graph], Rider Levett Bucknall, January 5, 2023. [Online]. Available: https://www.statista.com/statistics/830213/construction-costs-of-offices-in-the-us-city/