Building Costs Per Square Foot in the State of Michigan, USA – 2024

New 3 Bedroom House 340 Dover Road Waterford Michigan $369900 (2)

Completed in 2022 – Newly-built 3 Bedroom House with 3 Bathrooms, 2 x Attached Garages, Gross Floor Area 1,825 sqft – Located on 340 Dover Road, Waterford, MI 48328 – Price $369,900 

As of 2024, building costs in the state of Michigan are 1% 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 Michigan, USA

  • Class 1 – Luxury Homes – $402.75 to $614.15 per sqft
  • Class 2 – Semi Luxury Homes – $244.79 to $373.25 per sqft
  • Class 3 – Best Standard Homes – $158.22 to $239.08 per sqft
  • Class 4 – Good Standard Homes – $115.47 to $176.15 per sqft
  • Class 5 – Average Standard Homes – $93.74 to $142.80 per sqft
  • Class 6 – Minimum Standard  Homes – $73.95 to $112.73 per sqft
Michigan Single Family Houses 2024 Building Costs

Michigan Single Family Houses 2024 Building Costs

2024 Building Costs Per Square Foot for Manufactured Housing in the State of Michigan, 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 – $142.61 to $162.50 per sqft
  • Good Quality Housing – $120.23 to $143.37 per sqft
  • Average Quality Housing – $97.50 to $124.86 per sqft
  • Low Average Quality Housing – $82.57 to $108.79 per sqft
  • Lowest Quality Housing – $70.95 to $96.23 per sqft
Michigan Manufactured Housing 2024 Building Costs

Michigan Manufactured Housing 2024 Building Costs

Construction Market Analysis in the State of Michigan, USA

Building costs in Michigan are 1% higher than the national average, equivalent to the states of Colorado and Nevada and closer to the states of Ohio, Washington, Wisconsin, Kansas, Maryland, Louisiana and Delaware by 1% . According to TE statistics, the number of building permits issued in Michigan are at their peak during the second and third quarter of the year. The numbers dwindle towards the end and start of the year. The TE Chart shows the number of monthly building permits issued for new private housing in the state over a 5,10 and 25-year period counting back from 2022. The  25-year chart shows the construction boom ended in 2006. Before that, the average monthly peak value of permits was around 5000. This dropped to 3000 in 2006 and reached a record low of 750 in 2009. From 2009 to 2016, the numbers climbed steadily along a smooth slope, reaching an average monthly peak value of 3000. However, although 2017 recorded the highest peak since 2007, the average peak value dropped to 2200, and this was the beginning of an annual decline which persisted until the end of 2020 at around 1800 permits. Recovery was observed in 2021 as the average monthly peak climbed to 2000 permits. The strong monthly performance in 2021 saw values between 1500 and 2000 throughout the year and 2022 might be off to a good start. In February 2022, the state of Michigan approved 1771 building permits for new private housing.

Pages: First |1 | 2 | 3 | ... | Next → | Last | Single Page