New home construction cost per square foot
Based on NAHB's analysis of U.S. Census Bureau Survey of Construction data for new single-family homes started in 2024.
| Build type | Median cost per sq ft (excl. lot) |
|---|---|
| Spec / for-sale homes | $153 |
| Custom / contractor-built homes | $166 |
Regional spread
Cost per square foot varies sharply by region. Two examples from the same dataset: spec-built homes in New England averaged over $282/sq ft, while the East South Central region (Alabama, Kentucky, Mississippi, Tennessee) averaged roughly $129–$140/sq ft — more than double the spread between the cheapest and most expensive region.
Where the money goes
NAHB's 2024 "Cost of Constructing a Home" study found construction cost accounted for 64.4% of the final sales price — a record high — with the rest going to the finished lot, financing, overhead, and profit. Within construction cost, the largest single categories were:
| Construction stage | Share of construction cost |
|---|---|
| Interior finishes | 24.1% |
| Systems rough-in (electrical, plumbing, HVAC) | 19.2% |
| Framing | 16.6% |
These are the largest three of NAHB's construction-stage categories reported in the source study; the remaining categories are not reproduced here.
Estimate your build
Pre-filled with the national spec-build median — replace it with a local quote for accuracy.