Building Costs Per Square Foot in the State of Florida, USA

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Building Costs Per Square Foot in the State of Florida, USA

  • Construction Outlook in Florida

  • House Price Index in Florida (Federal Reserve Economic Data 2010 to 2021)

  • Number of New Single Family Homes in Florida 1980 to 2020 (TAMU)

  • Number of New Single Family Homes in Florida 1980 to 2020 (TAMU)

  • Average Price of New Single Family Homes in Florida 1980 to 2020 (TAMU)

  • Number of New Multi-Family Homes for 2 to 4 Families in Florida 1980 to 2020 (TAMU)

  • Average Price of New Multi-Family Homes for 2 to 4 Families in Florida 1980 to 2020 (TAMU)

  • Number of New Multi-Family Homes for 5+ Families in Florida 1980 to 2020 (TAMU)

  • Average Price of New Multi-Family Homes for 5+ Families in Florida 1980 to 2020 (TAMU)

  • Building Costs Per Square Foot in the State of Florida for Luxury, Semi-Luxury, Best Standard, Good Standard, Average Standard and Minimum Standard Homes Single Family Homes

  • List of 23 Metropolitan Areas/Cities in Florida – Percentage Deviation of the City/Town Building Cost from the National Average ($X), in Descending Order:

  • Cheapest and Most Expensive Places To Build in Florida.

Newly Built 3 Bedroom House on 4985 Timber Ridge Drive Milton Florida 32571 Price 350000 USD

Built in 2021 and Nearing Completion  – Newly Built 3 Bedroom House with 2 Bathrooms (2000 sqft Floor), Brick Veneer Walls, Frame and Vinyl Siding  Construction with Shingle  Roof on 4985 Timber Ridge Drive Milton Florida 32571 – Price $350,000 USD

Building costs in Florida are 5% lower than the national average. The Miami Metropolitan region, in particular the cities of Miami, Fort Lauderdale and West Palm Beach had major projects with a combined value of $15.58 billion, with Miami contributing $14.18 billion of the total. The residential construction volume in this market has been steadily rising since 2016 starting at $7.684 billion, with only one small drop in value being realized in 2018. From there the total value of newly built residential properties rose from $8.178 billion to $8.890 billion in 2019, with no interruption in 2020 despite the Covid-19 pandemic, registering a whopping $10.400 billion in residential construction projects. Commercial projects as well as manufacturing and education were clearly disrupted by the Covid-19 pandemic registering a decrease in volumes in 2020. The Miami Metropolitan Area had a 15.5% increase in residential projects, the biggest in the region. A full housing market analysis of all Metropolitan Areas in Florida can be obtained from the Office of Policy Development (OPD).

Construction Outlook in Florida

According to the Associated General Contractors of America (AGC), the 2019 construction outlook survey for Florida showed that 60% of contractors expected an increase in multi-family home projects, and 53% expected an increase in commercial building projects (retail, warehouse and accommodation). Highway, transportation and primary/secondary school education (K-12 schools) had the highest expectations at 64% and 67% for the last two respectively. This was followed by public buildings and hospitals, both at 58%. Half of the contractors surveyed expected an increase in water/sewer reticulation projects, whereas those who expected an increase in office building projects and higher education facilities were 47% and 44% respectively. Manufacturing had the lowest expectations, with 50% of respondents expecting a decrease.

83% of contractors surveyed expected an overall 83% increase in the number of people employed by their company. 79% had a hard time filling in positions for managerial, professional and skilled trades. 48% expected this trend to continue, whereas 30% predicated it will be much harder to fill in these positions. Due to labour and personnel shortages, 52% of contractors said they increased benefits and basic remuneration to attract applicants. 26% said shortage of staff and skilled labour has increased the cost of doing business. 30% said this has delayed project completion, and 22% of contractors have increased their tender rates. Despite these challenges, it seems most contractors in Florida are not aware of modern methods to reduce production time, costs and save money. A whopping 43% said they do not use BIM, modular construction, labour saving technology or construction specialists such as Architects, BIM Manager or Lean Construction Engineer. Only 18% said they use BIM and modular construction, 25% said they use labour saving technology and only 14% make use of Architects, BIM Managers and Lean Construction Engineers.

According to the Associated General Contractors of America (AGC), the 2021 construction outlook survey for Florida shows a big reversal in trends when compared to 2019. Apparently, the outbreak of the Covid-19 pandemic in 2020 was the reason behind the negative outlook among Florida building contractors. The only building sector with a positive outlook for 2021 was healthcare, with 60% of Florida contractors predicting an increase in the value of projects done, thanks to the Covid-19 outbreak which necessitated the expansion of existing healthcare facilities as well as new facilities to cope with the demands of unanticipated / overwhelming cases. The year 2020 saw a proliferation of new construction projects for quarantine facilities, medical isolation centres, testing centres, medical laboratories, clinics, ICU units and morgues. About 40% of contractors expected an increase in hospital projects.

Other construction sectors had a negative outlook, with a majority of contractors predicting a decline in the number and value of projects done. Private office building had the highest negative outlook, with 94% of contractors predicting a decline in projects. This was followed by the retail sector at 88%, lodging (hospitality and accommodation) at 71%, higher education at 71%, public building at 67%, manufacturing at 57%, K-12 primary/secondary school education at 53%, transportation at 46%, multi-family homes at 38%, water/sewer installation at 36%, bridge/highway construction at 36%, warehousing at 33%, power/energy sector at 31% and federal  projects at 31%.

41% of contractors expected an increase in headcount, while the same number expected no change. 79% had a hard time filling in positions for staff and skilled labour. 29% predicted filling in current positions will remain hard in 2021, 25% said it will be much harder, 25% said there will be no change and 21% said it will be easier to fill in positions in 2021.

Due to labour and personnel shortages, 46% of contractors said they increased benefits and basic remuneration to attract applicants. 58% said shortage of staff and skilled labour has increased the cost of doing business. 75% said this has delayed project completion, and 46% of contractors have increased their tender rates. Due to staffing challenges and shortage of labour, 46% of contractors surveyed said they have increased their project completion times in bid contracts.

In 2020, 58% of contractors surveyed said their projects had been postponed to 2021. 50% said their projects were cancelled with no postponement, and 17% said their projects are ongoing, with no cancellation or postponement. The impact of Covid-19 on projects, human resources and suppliers was the biggest concern among Florida contractors going into 2021, with 96% of respondents expressing this view. The second biggest worry among contractors was the rise in the cost of materials and labour (67%), followed by worker/staff shortages (58%), quality of workers (54%), safety (46%), subcontractor availability/quality (46%), increased competition for projects (46%), lack of private sector jobs (46%) and poor construction worker/professional training (42%).

About 54% of contractors surveyed said they have done $50 million worth of projects or less during the year 2020. 33% have done projects between $50 million and $500 million, and 13% have done projects over $500 million. Most construction firms (50%) have 20 to 99 employees, 25% have 500 or more employees, and 17% have 100 to 499 workers in their employ.

House Price Index in Florida (Federal Reserve Economic Data 2010 to 2021)

The house price index for all transactions in the state of Florida is shown below for the period 2010 to 2021. This will give you an idea about the house price fluctuations in the state over the decade beginning 2010. As you can see from the chart below, the HPI was 299.54 in the first quarter of 2010. It declined to 266.92 in the first quarter of 2012 by 10.9%. In the second quarter of 2012, the HPI was 264.96. From this point onwards, the index climbed up a smooth slope to 529.60 in the first quarter of 2021, which was a percentage increase of 99.9% over the 8 year period. At the beginning of 2013, the HPI was 278.89. It climbed to 307.95 at the beginning of 2014. The index was 336.09 at the beginning of 2015. It rose to 366.63 at the beginning of 2016. The house price index was 400.48 at the beginning of 2017. It rose to 434.08 at the beginning of 2018. The house price index was 460.12 at the beginning of 2019. It rose to 487.50 at the beginning of 2020 and ended at 529.60 in the first quarter of 2021.

House Price Index for Florida 2010 to 2021 All Transactions FRED DATA

House Price Index for Florida 2010 to 2021 All Transactions FRED DATA

Number of New Single Family Homes in Florida 1980 to 2020 (TAMU)

According to TAMU building permit data, in 1980 there were 89,304 new single family homes built. The figure dropped to 69,486 units by -22.2% in 1981, and further decreased by -18.3% in 1982 by -18.3%. The number of new units shot up to 100,321 in 1983, an increase of 76.8%. From 1983 to 1989, the number of newly built homes remained relatively stable, with a peak value of 113,188 housing units being registered in 1987 before taking a gentle decline to 107,098 units in 1989. The number decreased along a steep slope to 71,025 units in 1991, and then increased along a convex slope to 96,284 units in 1994. The number of new housing units dropped to 84,071 in 1995, and then took an upward trajectory along a smooth slope to 128,719 units in 2002.

Florida Building Permit Data Single Family Homes

Chart SFH-1  Florida Building Permit Data Single Family Homes

As from 2002 to 2005, the number of new single family houses in Florida took a sharp climb along a very steep slope, rising from 128,719 homes to 207,939 homes, which was the highest peak value ever in the recorded statistical history of Florida. Just as sharply as it had climbed, the number of newly built single family homes fell sharply along a very steep slope (near vertical linear curve) to its lowest value in 2009, settling at 26,636 units. In between this steep fall, the figures were 146,236 units in 2006, 70,030 units in 2007, and 38,709 units in 2008.

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As from 2009, the curve trended upwards along a smooth slope, rising from 26,636 units to 115,250 units in 2020, and taking a relatively linear curve with 31,874 units in 2011, 42,178 units in 2012, 55,385 units in 2013, 56,250 units in 2014, 67,670 units in 2015, 75,148 units in 2016, 85,267 units in 2017, 97,055 units in 2018 and 99,831 units in 2019.

Average Price of New Single Family Homes in Florida 1980 to 2020 (TAMU)

Will the average price of a new single family home change with the building permit data shown above? The data analysis shows that there is no relationship between the number of dwelling units and the average price of a single family home for any particular year. In other words, the laws of supply and demand don’t seem to apply in the Florida private housing scene. The cases in point are the big negative drops in the number of new dwelling units which were not followed by a decrease in price. These are 1981 (-22.2%), 1982 (-18.3%), 1990 (-22.8%), 1991 (-14.1%), 1995 (-12.7%), 2006 (-29.7%), 2007 (-52.1%), 2008 (-44.7%) and 2009 (-31.2%). Increased demand was not accompanied by a correlative increase in price as well. Cases in point being 1983 and 2015, 2017, 2018, 2019 and 2020. In 1983, there was only a 7.5% increase in price despite a massive 76.8% increase in the number of new dwellings for that year. In 2015, 2017, 2018 and 2019, the price of a new dwelling decreased for each successive year despite an increase in the year-to-year number of new dwellings. In 2020, the 1.4% increase in price was too small compared to the additional 15,419 new dwellings in that year.

Average Price of Single Family Homes in Florida - 1980 to 2020 TAMU

Average Price of Single Family Homes in Florida – 1980 to 2020 TAMU

Florida Average House Price vs % Change in Number of New Projects

Florida Average House Price vs % Change in Number of New Projects (Single Family Homes)

With the exception of the above mentioned scenarios, the overall curve shows house prices rising smoothly year after year from 1980 to 1999, and then taking a higher trajectory along relatively medium slope from 2000 to 2014. From 2014 onwards, house prices declined along a gentle slope until the year 2020.

In 1980, the average price of a new single family home in Florida was $39,500, increasing along a smooth slope to $52,000 per dwelling in 1985. The upward smooth trajectory continued , hitting $79,500 per house in 1990, climbing to $100,000 in 1995. The smooth rise resumed, hitting $127,200 per dwelling in 2000. From there, the curve took a higher trajectory along a fairly steep slope, going from $127,200 to $279,900 per unit in 2014. This price was the peak value across the 40-year span from 1980 to 2000. After hitting the historical peak value, the average cost of building a private single family home in Florida declined along a gentle slope, landing at $261,900 per dwelling  in 2020.

Number of New Multi-Family Homes for 2 to 4 Families in Florida 1980 to 2020 (TAMU)

In 1980, there were 21,354 multi-family dwelling units for 2-4 familes. The figure dropped sharply along a very steep slope to 18,372 units in 1981 and 13,481 units in 1982. The number of multi-family units then rose sharply along a very steep slope to 22,938 units in 1983, which was the highest peak value in four decades from 1980 to 2020. The number of new dwellings then declined sharply along a very steep slope to 20,638 units in 1985, 15,511 units in 1985, and 11,862 units in 1986. From there, the curve continued its decline on a steep slope along a relatively linear trajectory to 7,688 units in 1989. The number declined further on a very steep slope to 4,326 dwellings in 1990, and finally to its lowest point in the first two decades to 3,254 units in 1992.

Florida Building Permit Data Multi-Family Homes for 2 to 4 Families

Chart SFH-2 Florida Building Permit Data Multi-Family Homes for 2 to 4 Families

From 1992 to 2002, the curve took an upward trajectory along a gentle slope, rising from 3,254 dwellings to 5,991 dwellings in 2002. The number increased to 7,398 units in 2003, remaining stable until the end of 2004 at 7,353 new homes. From there the number declined along a steep slope almost linearly to 709 new homes in 2009. This was the base value (lowest point) in the whole period from 1980 to 2020.

The curve remained stable from 2009 to 2012, starting at 709 homes and finishing at 880 homes. It then climbed along a smooth slope to 1,889 multi-family homes in 2013, and then remained stable once more between 2013 and 2017, finishing off at 2,198 multi-family homes. The number of new multi-family homes for 2 to 4 families rose to 3064 units in 2018, and then remained stable in the last lap, finishing off at 3407 units in 2020.

Average Price of New Multi-Family Homes for 2 to 4 Families in Florida 1980 to 2020 (TAMU)

Just like chart SFH-1 for single family homes, there is no relationship between the average price of new homes and the change in the number of new projects (building permits issued in a particular year). The biggest drops in the number of new multi-family homes (2 to 4 families) occurred in 1981 (-14%), 1982 (-26.6%), 1984 (-10%), 1985 (-24.8%), 1986 (-23.5%), 1988 (-18.6%), 1989 (-12%), 1990 (-43.7%), 1991 (-21.3%), 1995 (-12.2%), 2005 (-10.6%), 2006 (-21.7%), 2007 (-48.5%), 2008 (-41.5%), 2009 (-54.3%) and 2011 (-11.8%). The biggest rise in house prices occurred in 1983 (70.2%),  1993 (22.2%), 2003 (23.5%), 2010 (28.9%), 2013 (114.7%), 2016 (28.7%) and 2018 (39.4%. As the graph shows, the change in the volume of projects had no direct effect on the average price of multi-family homes in Florida.

Average Price of Multi-Family Homes for 2 to 4 Families in Florida - 1980 to 2020 TAMU

Average Price of Multi-Family Homes for 2 to 4 Families in Florida – 1980 to 2020 TAMU

Florida Average House Price vs % Change in Number of New Projects Multi-Family Homes 2 to 4 Families

Florida Average House Price vs % Change in Number of New Projects Multi-Family Homes 2 to 4 Families

The overall curve shows house prices rising steadily year after year from 1980 to 2001. Thereafter the curve resumed its steady rise along a medium slope until 2014, with a few outliers such as 2006, 2010 and 2014 being way higher than the average. From 2014 to 2020, house prices declined gently, with a few outliers such as 2017 and 2019 being way higher than the average price.

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In 1980, the average price of a multi-family residence for 2 to 4 families was $25,500 and the following year it increased to $27,500. It dropped a bit to $26,100 in 1982, then increased steadily along a gentle slope to $48,000 in 1991. From there, the price resumed its steady rise along a gentle convex slope, ending at $81,900 in 2000. In 2001, the price shot up to $91,500 (an outlier) but then tumbled down back to the average trendline, hitting $90,400 and $93,500 per dwelling in 2002 and 2003 respectively. In 2004, the price shot up to $110,000, setting a new trendline with a steeper slope and remaining relatively the same in 2005 at $109,800 per dwelling. The new trendline continued its rise up until 2014 and with the cost at $165,500. In between this period, the major outliers were 2006 at $140,500 per unit, the year 2010 at $158,200 per unit and 2014. As from 2014 to 2020, the overall cost of building a multi-family homes for 2 to 4 families in Florida followed a declining curve, ending at $150,900 per dwelling in 2020 with two major outliers in between ($168,200 per unit in 2017 and $165,100 per unit in 2019).

Number of New Multi-Family Homes for 5+ Families in Florida 1980 to 2020 (TAMU)

In 1980, there were 64,235 multi-family dwelling units (5+ families). The figure dropped smoothly along a medium slope to 58,706 units in 1981 and then declined sharply along a very steep near-vertical slope to 33,912 units in 1982. The curve climbed sharply along a very steep near-vertical slope to 66,104 dwellings in 1983 and 81,174 units in 1984. From 1984 to 1985, the number of newly built 5+ family units remained stable ending at 81,395 units in 1985. This was the peak value along the entire span from 1980 to 2020. The number took a new trendline as from 1985 to 1992, declining along a very steep slope on the overall, and ending at 15,058 units in 1992, which was the lowest base value in the first three decades since 1980. Along this declining curve, the number of new multi-family homes fell along a medium slope to 73,662 units in 1986, and then declined sharply along a very steep near-vertical slope to 54,982 units in 1987. The decline continued along a gentle slope to 50,261 homes in 1989 and took another sharp decline along a very steep slope to 39,397 units in 1990, 20,943 units in 1991 and eventually reaching the lowest point within the first 30 years to 15,058 units in 1992.

Florida Building Permit Data Multi-Family Homes for 5 Families

SFH-3 Florida Building Permit Data Multi-Family Homes for 5 Families

After reaching the lowest point within the first three decades, the number of new 5+ multi-family homes took an upward trajectory along a steep linear slope to 35,165 units in 1995. Thereafter, the number declined again to 30,081 units in 1996, before taking another upward trajectory along a steep linear slope to 53,197 units in 1999.

The number dropped sharply to 43,546 homes in 2000, and then dropped gently to 42,031 homes in 2001, after which the curve took an upward trajectory along a steep slope to 50,721 homes in 2002. This was followed by a small drop in numbers to 42,031 dwellings in 2001, which was followed by a sharp rise to 50,721 dwellings in 2002. The number of new 5+ family dwellings declined once again by a small margin to 49,317 units in 2003, before rising sharply once more along a very steep linear slope to 71,349 units in 2005. From this turning point, the number of multi-family dwellings fell sharply along a very steep near-vertical slope to 7,984 units in 2009. The number remained stable in 2010 at 7,725 units, which also happened to be the lowest value across the four decade span. In 2011, the number climbed up slightly to 9,680 units, and thereafter took an overall steep rise to finish off at 45,417 multi-family homes in 2020. Along this rising trendline, the number shot up to 21,752 dwellings in 2012 and 29,478 dwellings in 2013. It then declined to 26,077 homes in 2014, before rising again to 40,455 homes in 2015, and then declining again to 35,254 multi-family homes in 2017. In the last lap, the figure rose along a linear slope to 44,308 homes in 2018 and 51,339 homes in 2019, before declining to 45,417 dwellings in 2020.

Average Price of New Multi-Family Homes for 5+ Families in Florida 1980 to 2020 (TAMU)

Similar to charts SFH-1 and MF-1, there is no relationship between the average price of new homes and the change in the number of new projects (building permits issued in a particular year). The biggest drops in the number of new multi-family homes (5+ families) occurred in 1982 (-42.2%), 1987 (-25.4%), 1990 (-21.6%), 1991 (-46.8%), 1992 (-28.1%), 1996 (-14.5%), 2000 (-18.1%), 2006 (-27.3%), 2007 (-42.4%), 2008 (-30.4%), 2009 (-61.6%), 2014 (-11.5%) and 2020 (-11.5%). As the graph shows, the change in the volume of projects had no direct effect on the average price of multi-family homes in Florida.

Average Price of Multi-Family Homes for 5+ Families in Florida - 1980 to 2020 TAMU

Average Price of Multi-Family Homes for 5+ Families in Florida – 1980 to 2020 TAMU

Florida Average House Price vs % Change in Number of New Projects Multi-Family Homes for 5 Families

Florida Average House Price vs % Change in Number of New Projects Multi-Family Homes for 5 Families

The overall curve shows an irregular rise in house prices. Prices are rising and falling in the first, third and last decade from 1980 to 2020, although at a much higher baseline than previously. The second decade 1990 to 2000 has prices rising sharply in the whole period.

In 1980, the average price of a 5+ multiple-family home was $37,700 and it increased along a gentle linear slope to $40,000 in 1982.  The price then fell along concave slope to $30,300 in 1985, before rising again along a concave slope to $42,200 in 1989. As from 1989 to 1991, it decreased along a gentle linear slope, remaining stable at $41,900 and $40,400 per dwelling respectively. This was followed by a sudden steep 38.4% price increase in 1992, with each multi-family dwelling selling at $55,900. The price remained stable over the next three years at $56,600 and $56,100 in 1993 and 1994 respectively. In 1995, prices increased to new levels by 9.8% settling at $61,600 per dwelling, and then remaining stable over the next three years at $60,700 and $60,200 per unit in 1996 and 1997 respectively. The curve then took a smooth upward trajectory as from 1997 to 1999, with houses selling at $63,500 and $66,000 per dwelling in 1998 and 1999 respectively.

A third major shift in prices happened once more in 2000, with house prices rising steeply to $80,200 per multi-family dwelling. Prices remained relatively stable over the next three years although they declined slightly, settling at $78,300 and $79,100 per unit in 2001 and 2002 respectively.

The fourth major shift in house prices happened in 2003. Prices shot up to $92,000 per unit (a 16.3% increase) followed by another 16.5% trendsetting increase in 2004 which set the price at $107,200 per unit. The steep rise in prices continued into 2005, setting a record breaking and peak value of $136,900 per dwelling, which was the third highest biggest increase (27.7%) across the 40-year span. Prices remained stable and unchanged in the following year (2006) standing at $136,800 per dwelling.

The average price of multi-family homes dropped sharply along a very steep near-vertical slope from 2006 to 2008, going through $123,800 in 2007 and $101,100 in 2008. The decline continued through 2009 to 2013, but at a decelerated rate and gentle slope, remaining relatively stable on the overall at $99,600 per dwelling in 2009, $96,600 per dwelling in 2010, $95,000 per dwelling in 2011, $98,400 per dwelling in 2012 and $97,100 per dwelling in 2013.

The fifth and last major shift in average house prices occurred in 2014. New home prices shot up to $134,900 per unit setting a higher trendline by 38.9%, which was the steepest and highest price increase in the entire span from 1980 to 2020. On the overall, the average price remained relatively stable from 2014 to 2020 with the exception of two outliers 2015 and 2018, which registered a -6.5% and -6.1% decrease in price respectively. The average cost of building a 5+ multi-family house in Florida was $126,100 in 2016, $135,600 in 2017, $134,800 in 2019 and $136,200 in 2020.

Newly Built 4 Bedroom House on 2405 SW 33rd Cir Okeechobee Florida 34974 Price 380000 USD (1)

Completed in 2021 – Newly Built 4 Bedroom House with 2 Bathrooms (1,882 sqft Floor) on 2405 SW 33rd Cir Okeechobee Florida 34974 – Price $380,000 USD (1)

Newly Built 4 Bedroom House on 2405 SW 33rd Cir Okeechobee Florida 34974 Price 380000 USD (2)

Completed in 2021 – Newly Built 4 Bedroom House with 2 Bathrooms (1,882 sqft Floor) on 2405 SW 33rd Cir Okeechobee Florida 34974 – Price $380,000 USD (2)

Building Costs Per Square Foot for Single Family Homes in the State of Florida, USA (NATIONAL ESTIMATOR)

In any residential construction project, material specifications as well as architectural design will determine the quality of the new house. In the United States, private homes can be divided into the following groups or classes:

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Class 1 – Luxury homes

Class 2 – Semi-luxury homes

Class 3 – Best standard homes

Class 4 – Good standard homes

Class 5 – Average standard homes

Class 6 – Minimum standard homes

In actual projects taking place on the ground, the construction cost per square foot is inversely proportional to the contract sum of the project. That means the construction cost per square foot will increase as the project value decreases, and the square foot cost will decrease as the project value increases. How is this? Builders’ pricing habits have a bearing on the square foot cost, which also includes the contractor’s profit and overheads. In a small building project, contractors have to factor in the risk of under-pricing, loss, profit erosion and being stuck on breakeven point. Thus, a higher profit margin is needed in this case to mitigate the risks. Larger projects with a huge contract sum are safe for contractors in terms of the amount of profit and cushion for risks. The building costs below were last updated in December 2020:

Class 1 – Luxury Single Family Homes

The building cost per square foot for luxury private homes in Florida ranges from $327.65 per sqft to $502.27 per sqft, with the average being $386.67 per sqft. As the bar chart shows below, bigger homes with a large gross floor area have the lowest building costs per ft2, and smaller homes with a small gross floor area have the highest building costs per ft2. Medium-sized homes are somewhere in between. Generally, the building cost per square foot decreases as the size of the house gets bigger, and increases as the house gets smaller.

Class 1 Luxury Single Family Homes Building Costs Florida

Class 1 Luxury Single Family Homes Building Costs Florida

Class 2 – Semi Luxury Single Family Homes

The building cost per square foot for semi-luxury private homes in Florida ranges from $199.13 per sqft to $305.24 per sqft, with the average being $234.99 per sqft. As the bar chart shows below, bigger homes with a large gross floor area have the lowest building costs per ft2, and smaller homes with a small gross floor area have the highest building costs per ft2. Medium-sized homes are somewhere in between. Generally, the building cost per square foot decreases as the size of the house gets bigger, and increases as the house gets smaller.

Class 2 Luxury Single Family Homes Building Costs Florida

Class 2 Luxury Single Family Homes Building Costs Florida

Class 3 – Best Standard Single Family Homes

The building cost per square foot for best-standard private homes in Florida ranges from $128.73 per sqft to $195.52 per sqft, with the average being $150.71 per sqft. As the bar chart shows below, bigger homes with a large gross floor area have the lowest building costs per ft2, and smaller homes with a small gross floor area have the highest building costs per ft2. Medium-sized homes are somewhere in between. Generally, the building cost per square foot decreases as the size of the house gets bigger, and increases as the house gets smaller.

Class 3 Luxury Single Family Homes Building Costs Florida

Class 3 Luxury Single Family Homes Building Costs Florida

Class 4 – Good Standard Single Family Homes

The building cost per square foot for good-standard private homes in Florida ranges from $93.95 per sqft to $144.07 per sqft, with the average being $110.87 per sqft. As the bar graph shows below, bigger homes with a large gross floor area have the lowest building costs per ft2, and smaller homes with a small gross floor area have the highest building costs per ft2. Medium-sized homes are somewhere in between. Generally, the building cost per square foot decreases as the size of the house gets bigger, and increases as the house gets smaller.

Class 4 Luxury Single Family Homes Building Costs Florida

Class 4 Luxury Single Family Homes Building Costs Florida

Class 5 – Average Standard Single Family Homes

The building cost per square foot for average-standard private homes in Florida ranges from $76.26 per sqft to $116.78 per sqft, with the average being $89.92 per sqft. As the bar graph shows below, bigger homes with a large gross floor area have the lowest building costs per ft2, and smaller homes with a small gross floor area have the highest building costs per ft2. Medium-sized homes are somewhere in between. Generally, the building cost per square foot decreases as the size of the house gets bigger, and increases as the house gets smaller.

Class 5 Luxury Single Family Homes Building Costs Florida

Class 5 Luxury Single Family Homes Building Costs Florida

Class 6 – Minimum Standard Single Family Homes

The building cost per square foot for minimum-standard private homes in Florida ranges from $60.14 per sqft to $92.19 per sqft, with the average being $70.95 per sqft. As the bar graph shows below, bigger homes with a large gross floor area have the lowest building costs per ft2, and smaller homes with a small gross floor area have the highest building costs per ft2. Medium-sized homes are somewhere in between. Generally, the building cost per square foot decreases as the size of the house gets bigger, and increases as the house gets smaller.

Class 6 Luxury Single Family Homes Building Costs Florida

Class 6 Luxury Single Family Homes Building Costs Florida

List of 23 Metropolitan Areas/Cities in Florida – Percentage Deviation of the City/Town Building Cost from the National Average ($X), in Descending Order:

There are 411 municipalities grouped into 23 metropolitan areas in the state of Florida. The bar chart below indicates that building costs vary in each metro city/town. The construction cost per square foot in each of these metropolitan cities varies from the state and national average by a certain percentage based on the location factor also known as the local modifier.

The building costs for single family homes in this post include all Bills of Quantities with the exception of HVAC installations. So the total costs include all construction trades, electrical installation, plumbing, built-in cupboards, plumbing fittings, local authority fees and permits, utility connections (water, gas, sewer etc), professional fees (architect, engineers etc.), contingency sum, contractor’s profit, attendance and overheads. The Location Factor represents the value of the local construction index, i.e. variation in the cost of labour, materials and supervision. In working out the building costs per square foot, the cost of land, existing infrastructure, land servicing, allowance for escalation, interest costs, parking and loose furniture are not included in the estimate. Ground conditions are assumed to be normal for estimating purposes, but for your own project, you have to factor in ground conditions, weather and climate because no two projects are the same.

The percentage deviation of building costs from the National Average for each metropolitan area in Florida is shown below.

If $X is the Average National Building Cost in the USA, then it will cost the following to build a residential property in each metro city/town in Florida:

Florida Average -5% (-5% less than X)

  1. Altamonte Springs  -3%
  2. Bradenton  -6%
  3. Brooksville  -7%
  4. Daytona Beach  -9%
  5. Fort Lauderdale  2%
  6. Fort Myers  -6%
  7. Fort Pierce  -10%
  8. Gainesville  -9%
  9. Jacksonville  -2%
  10. Lakeland  -8%
  11. Melbourne  -8%
  12. Miami  1%
  13. Naples  -2%
  14. Ocala  -12%
  15. Orlando  1%
  16. Panama City  -11%
  17. Pensacola  -8%
  18. Saint Augustine  -2%
  19. Saint Cloud  -2%
  20. St Petersburg  -6%
  21. Tallahassee  -6%
  22. Tampa  -1%
  23. West Palm Beach  -2%

The Metropolitan Area List above as well as the Bar Graphs below indicate that Ocala is the cheapest city to build a private home in the state of Florida, and Fort Lauderdale is the most expensive city to build a home. Building costs are -12% below the national average in Ocala and 2% above the national average in Fort Lauderdale.

Deviation of City Building Costs from National Average Florida - Alphabetical Order

Deviation of City Building Costs from National Average Florida – Alphabetical Order

Deviation of City Building Costs from National Average Florida - Costs in Ascending Order

Deviation of City Building Costs from National Average Florida – Costs in Ascending Order

Cheapest Places To Build in Florida:

Ocala is cheapest to place to build at -12% below the national average, followed by Panama City at -11% below the national average. The third cheapest place to build a house is Fort Pierce at -10% below the national average, followed by Daytona Beach and Gainsville at -9% below the national average. The fourth cheapest place to build is Lakeland, Melbourne and Pensacola at -8% below the national average, followed by Brooksville at -7% below the national average.  The fifth cheapest place to build a home is Bradenton, Fort Myers, St Petersburg  and Tallahassee at -6% below the national average. Construction costs in Altamonte Springs are 3% below the national average. Jacksonville, Naples, Saint Augustine and Saint Cloud are -2% below the national average. Building a house in Tampa is -1% below the national average cost. Costs in Miami and Orlando are 1% above the national average. Fort Lauderdale is 2% more than the national average cost.

Newly Built 4 Bedroom House on 11144 Robert Frost Drive Winter Garden Florida 34787 - Price 500000 USD

Completed in 2021 – Newly Built 4 Bedroom House with 3 Bathrooms (2650 sqft Floor) on 11144 Robert Frost Drive Winter Garden Florida 34787 – Price  $500,000 USD

Newly Built 4 Bedroom House on 11144 Robert Frost Drive Winter Garden Florida 34787 - Price 500000 USD

Completed in 2021 – Newly Built 4 Bedroom House with 3 Bathrooms (2650 sqft Floor) on 11144 Robert Frost Drive Winter Garden Florida 34787 – Price  $500,000 USD

Expensive Places To Build in Florida:

If anything between 5% and 10% is considered expensive, then there is no such metropolitan area in Florida.

More Expensive Places To Build in Florida:

If anything between 10% and 15% is considered more expensive, then there is no such metropolitan area in Florida.

Very Expensive Places To Build in Florida:

The most expensive places to build a house in Florida are those 15% above the national average. There is no such metropolitan area in Florida.

Florida State Average Costs:

Private home building costs in the state of Florida are -5% lower than the national average. Building cost rates in the metropolitan areas of Bradenton, Fort Myers, St Petersburg and Tallahassee are closer to the Florida state average by a deviation of 1%. Florida is one of the cheapest states to build a home in the United States.


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