The overall value of the construction output in the state of California in 2021 was slightly higher than in New York State and Florida combined. However, the value of the construction put in place in Texas was similar, even if slightly smaller than that of California.
What elements determine construction value?
Several factors play into the value of the construction put in place such as the costs in which each project incurs. Contractors facing shortages in construction materials or a rise in their cost are some of the situations that can cause an increase in the construction value. It is also necessary to factor in the cost of labor of construction workers in non-supervisory and in managerial positions, as well as that of specialized workers such as engineers and architects. Finally, taxes and fees, the contractor’s profit, and other costs are also considered.
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US Census Bureau. (March 1, 2023). Average monthly value of state and local construction put in place in the United States in 2021, by state (in million U.S. dollars) [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/856759/new-state-and-local-construction-value-by-leading-us-state/
US Census Bureau. "Average monthly value of state and local construction put in place in the United States in 2021, by state (in million U.S. dollars)." Chart. March 1, 2023. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/856759/new-state-and-local-construction-value-by-leading-us-state/
US Census Bureau. (2023). Average monthly value of state and local construction put in place in the United States in 2021, by state (in million U.S. dollars). Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/856759/new-state-and-local-construction-value-by-leading-us-state/
US Census Bureau. "Average Monthly Value of State and Local Construction Put in Place in The United States in 2021, by State (in Million U.S. Dollars)." Statista, Statista Inc., 1 Mar 2023, https://www.statista.com/statistics/856759/new-state-and-local-construction-value-by-leading-us-state/
US Census Bureau, Average monthly value of state and local construction put in place in the United States in 2021, by state (in million U.S. dollars) Statista, https://www.statista.com/statistics/856759/new-state-and-local-construction-value-by-leading-us-state/ (last visited July 22, 2024)
Average monthly value of state and local construction put in place in the United States in 2021, by state (in million U.S. dollars) [Graph], US Census Bureau, March 1, 2023. [Online]. Available: https://www.statista.com/statistics/856759/new-state-and-local-construction-value-by-leading-us-state/