Building Costs Per Square Foot in the State of Maryland – Single Family Homes

Last Updated on April 8, 2024 by admin

A newly-built 4 Bedroom House with 3 Bathrooms and 2 attached garages,
gross floor area 2804 sqft – on 1221 Star Dr, Hagerstown, Maryland –
Price $499,000

As of 2024, building costs in the state of Maryland are 3% above the national average. The charts below show a comparison of costs between luxury, semi-luxury, best, good, average and minimum standard single-family houses. Costs are also given for manufactured housing in five quality classes.

2024 Building Costs Per Square Foot for Single Family Homes in the State of Maryland, USA

Class 1 – Luxury Homes – $396.67 to $608.07 per sqft

Class 2 – Semi Luxury Homes – $241.09 to $369.55 per sqft

Class 3 – Best Standard Homes – $155.85 to $236.71 per sqft

Class 4 – Good Standard Homes – $113.73 to $174.41 per sqft

Class 5 – Average Standard Homes – $92.33 to $141.39 per sqft

Class 6 – Minimum Standard  Homes – $72.83 to $111.61 per sqft

Maryland Single Family Houses 2024 Building Costs

2024 Building Costs Per Square Foot for Manufactured Housing in the State of Maryland, USA

Manufactured housing is composed of one or more prefabricated modular units which are delivered to the site and assembled on a RC foundation or slab.

Best Quality Housing – $141 to $160.89 per sqft

Good Quality Housing – $118.81 to $141.95 per sqft

Average Quality Housing – $96.26 to $123.62 per sqft

Low Average Quality Housing – $81.49 to $107.71 per sqft

Lowest Quality Housing – $70 to $95.28 per sqft

Maryland Manufactured Housing 2024 Building Costs

2022 Residential Construction Market Analysis in the State of Maryland, USA

Building costs are 2% above the national average in the state of Maryland, and equivalent to the states of Delaware and Louisiana. The dream of having a home of your own is something that many people have in common, regardless of where we come from or where we want to have that home. It can be in a paradisiacal place like in front of the beaches of Hawaii, maybe an exotic place like the snowy mountains of Alaska, or maybe you are looking for a more conventional place like a town in Maryland.

It is true that this comparison makes Maryland sound bad, but make no mistake, it is a wonderful place to live and millions of people choose it as the state where they make their lives. This article will be devoted entirely to that state, so get ready to read more about the type of construction you’ll find there, their prices, the outlook for Maryland, and more about the residential home market there.

Maryland Construction Outlook

Maryland is one of the most eastern states in the country, bordering directly on the Atlantic Ocean. This makes it stand out for being a fishing village to a large extent, and its constructions usually have characteristics of typical coastal houses.

Prepare to see many wooden houses, although in reality this is generally done for aesthetic reasons. This is because they are brick houses, but they put wooden planks so as not to lose the essence of a port town.

In any case, the constructions of the houses must be strong enough to withstand the storms that can come from the coast. They are not super common, but hurricanes, cyclones, among other types of storms that start in the ocean, or in the sea, and then reach the earth’s surface can occur.

There are not usually many houses of those that come prefabricated in Maryland, since the climatic conditions are not optimal for them. They obviously have the advantage of being able to set up quickly on land, but a strong storm is enough to destabilize them, and this happens frequently in this state. So get used to seeing brick buildings and concrete houses with wooden planks on the outside in Maryland, because if you decide to build and live there they will become your new landscape.

Maryland Housing Market Analysis

The Maryland housing market is marked by a huge increase in properties. In recent years, properties have increased their value by at least 6% each year, although this percentage reaches peaks of 28% in central areas, which tend to have greater demand.

The only disadvantage of the housing market in this region is that there are some houses that take a long time to sell, which can negatively affect you if you are looking to buy a cheap property and then resell it or restore it and sell it. Keep in mind that in the port area or near the coast, the average waiting time to sell is 5 months, which can harm your profits.

However, if you take into account this expense caused by the amount of time you will have to wait, then you should not worry at all. In addition, this is a statistically average number, but it can decrease depending on the type of property and what condition it is in.

The houses that are close to schools and hospitals are the ones that have the most value and the ones that sell the fastest. This is a trend that is not exclusive to Maryland but occurs in most states in the country.

In turn, 2022 saw a 50% increase in the demand for houses to buy in Maryland, so the number of months of waiting for the sale is greatly reduced. In the central areas, there is a large number of houses that are sold in less than a month.

Maryland Average House Price (Median Home Price)

The median home price in Maryland has seen an increase in recent years. 5 years ago (in 2017) the price of an average house, that is, with 3 bedrooms, a kitchen, 2 bathrooms, a garage, and a small garden, was less than $300,000. Today the standard price is $380,000. Keep in mind that this is an average number, so it can be more or less depending on the area you are in.

If you want to build a house from scratch, then it will probably be a bit cheaper (plus it will be custom-built for you). The median price of land in Maryland is $20,000, but you can get it for more or less depending on the area. From there the price will change according to the materials you use, the size of the land, and the construction, if you want to add some extra features such as a pool or wooden deck, etc. The price for a median house built from scratch can be anywhere from $150,000 to $300,000.

Maryland Residential Building Projects

An increase in building projects is being seen in Maryland, especially in its capital, Annapolis, or in the most populous, which is Maryland. These buildings are not the typical skyscrapers that you would find in other states in the east of the country, but they are quite tall and have a modern facade full of glass windows.

On the outskirts of Annapolis, there are several residential neighborhood projects, where different construction companies or firms build 20 houses of the same style (they are usually average or luxury houses) and then sell them.

This causes those houses to form what appear to be private neighborhoods, although, in reality, they are not. This is a trend that is happening both in Maryland and in other states that used to be small and are expanding but don’t want to build as many buildings. While new people are moving to Maryland, the feel is a small town, and that’s something you don’t want to miss.

A newly-built 4 Bedroom House with 3 Bathrooms and 1 attached garage,
gross floor area 2216 sqft – on 1713 Cedar St, Pocomoke City, Maryland
– Price $443,200

2020 Building Costs Per Square Foot for Single Family Homes in the State of Maryland, USA

Class 1 – Luxury Single Family Homes

The building cost per square foot for luxury private homes in Maryland ranges from $351.79 per sqft to $539.27 per sqft, with the average being $415.16 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 – Semi Luxury Single Family Homes

The building cost per square foot for semi-luxury private homes in Maryland ranges from $213.80 per sqft to $327.73 per sqft, with the average being $252.31 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 – Best Standard Single Family Homes

The building cost per square foot for best-standard private homes in Maryland ranges from $138.21per sqft to $209.93 per sqft, with the average being $161.81 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 4 – Good Standard Single Family Homes

The building cost per square foot for good-standard private homes in Maryland ranges from $100.87 per sqft to $154.68 per sqft, with the average being $119.04 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 – Average Standard Single Family Homes

The building cost per square foot for average-standard private homes in Maryland ranges from $81.88 per sqft to $125.39 per sqft, with the average being $96.55 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 – Minimum Standard Single Family Homes

The building cost per square foot for minimum-standard private homes in Maryland ranges from $64.58 per sqft to $98.98 per sqft, with the average being $76.18 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.

List of 9 Metropolitan Areas/Cities in Maryland – Percentage Deviation of the City/Town Building Cost from the National Average ($X), in Descending Order:

There are 157 municipalities grouped into 23 counties in the state of Maryland. 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 percentage deviation of building costs from the National Average for each metropolitan area in Maryland 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 Maryland:

Maryland Average 2% (2% more than X)

• Cumberland 215 -8% -8
• Salisbury 218 -6% -6
• Elkton 219 -5% -5
• Church Hill 216 -4% -4
• Baltimore 210-212 7% 7
• Frederick 217 7% 7
• Annapolis 214 8% 8
• Laurel 206-207 8% 8
• Bethesda 208-209 13% 13

The Metropolitan Area List above as well as the Bar Graphs below shows that Cumberland is the cheapest city to build a private home in the state of Maryland, and Bethseda is the most expensive city to build a home. Building costs are -8% below the national average in Cumberland and 13% above the national average in Bethseda.

Cheapest Places To Build in Maryland:

Cumberland is the cheapest to place to build at -8% below the national average, followed by Salisbury City at -6%. The third cheapest place to build is EIkton at -5% below the national average. The fourth cheapest city to build a house is Church Hill at -4% below the national average.

Expensive Places To Build in Maryland:

If anything between 5% and 10% is considered expensive, then there are 4 such metropolitan areas in the state of Maryland. The cost of building a home in Baltimore and Frederick is 7% above the US average. Home building costs in Annapolis and Laurel are 8% above the national average.

More Expensive Places To Build in Maryland:

If anything between 10% and 15% is considered more expensive, then there is one such metropolitan area in the state of Maryland. Building costs in the City of Bethseda are 13% above the national average.

Very Expensive Places To Build in Maryland:

The most expensive places to build a house in the USA are those 15% above the national average. There are no such places in Maryland.

Maryland State Average Costs:

Private home building costs in the state of Maryland are 2% above the US average. Bethseda is the most expensive city to build a home in Maryland, and the state of Maryland is number 38 on the national ascending costs scale.