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Construction cost trends that will shape 2020 and beyond

Crunching the latest quarterly numbers and giving you the trends that matter, so that you have the insight you need going into the next quarter.

Click on the interactive graphic below or continue scrolling for your specific market.

Overall Construction Cost Index Q3 2020

(JANUARY 2009 = 100)

Overall Construction Cost Index Q2 2020

(JANUARY 2009 = 100)

Construction Cost Index by City

The Mortenson Construction Cost Index is calculated quarterly by pricing a representative non-residential construction project in geographies throughout the country. Click a city below to jump to the latest findings.

Chicago Construction Cost Index

(JANUARY 2009 = 100)

Advice for Building Owners in Chicago

Overall, we have seen construction costs remain flat in 2020. While there is significant downward pressure as trade contractors and suppliers look to rebuild their backlogs, there are also upward pressures on costs. The global coronavirus pandemic and recent natural disasters in the U.S. have resulted in supply chain disruptions, driving cost increases for many materials. The most notable increases have been seen for lumber, PVC, steel and copper. In fact, costs for lumber have doubled since March. We expect to see a competitive market through early 2021 with costs remaining flat. Continued volatility in pricing should be anticipated as the market adjusts to supply chain impacts and ongoing events

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Denver Construction Cost Index

(JANUARY 2009 = 100)

Advice for Building Owners in Denver

Overall, we have seen construction costs remain flat in 2020. While there is significant downward pressure as trade contractors and suppliers look to rebuild their backlogs, there are also upward pressures on costs. The global coronavirus pandemic and recent natural disasters in the U.S. have resulted in supply chain disruptions, driving cost increases for many materials. The most notable increases have been seen for lumber, PVC, steel and copper. In fact, costs for lumber have doubled since March. We expect to see overall project costs remaining flat with some continued volatility in pricing as the market adjusts to ongoing events.

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Milwaukee Construction Cost Index

(JANUARY 2009 = 100)

Advice for Building Owners in Milwaukee

Overall, we have seen construction costs remain flat in 2020. While there is significant downward pressure as trade contractors and suppliers look to rebuild their backlogs, there are also upward pressures on costs. The global coronavirus pandemic and recent natural disasters in the U.S. have resulted in supply chain disruptions, driving cost increases for many materials. The most notable increases have been seen for lumber, PVC, steel and copper. In fact, costs for lumber have doubled since March. We expect to see overall project costs remaining flat with some continued volatility in pricing as the market adjusts to ongoing events.

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Minneapolis Construction Cost Index

(JANUARY 2009 = 100)

Advice for Building Owners in Minneapolis

Overall, we have seen construction costs remain flat in 2020. While there is significant downward pressure as trade contractors and suppliers look to rebuild their backlogs, there are also upward pressures on costs. The global coronavirus pandemic and recent natural disasters in the U.S. have resulted in supply chain disruptions, driving cost increases for many materials. The most notable increases have been seen for lumber, PVC, steel and copper. In fact, costs for lumber have doubled since March. We expect to see overall project costs remaining flat with some continued volatility in pricing as the market adjusts to ongoing events.

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Phoenix Construction Cost Index

(JANUARY 2009 = 100)

Advice for Building Owners in Phoenix

Overall, we have seen construction costs remain flat in 2020. While there is significant downward pressure as trade contractors and suppliers look to rebuild their backlogs, there are also upward pressures on costs. The global coronavirus pandemic and recent natural disasters in the U.S. have resulted in supply chain disruptions, driving cost increases for many materials. The most notable increases have been seen for lumber, PVC, steel and copper. In fact, costs for lumber have doubled since March. We expect to see overall project costs remaining flat with some continued volatility in pricing as the market adjusts to ongoing events.

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Portland Construction Cost Index

(JANUARY 2009 = 100)

Advice for Building Owners in Portland

Overall, we have seen construction costs remain flat in 2020. While there is significant downward pressure as trade contractors and suppliers look to rebuild their backlogs, there are also upward pressures on costs. The global coronavirus pandemic and recent natural disasters in the U.S. have resulted in supply chain disruptions, driving cost increases for many materials. The most notable increases have been seen for lumber, PVC, steel and copper. In fact, costs for lumber have doubled since March. We expect to see overall project costs remaining flat with some continued volatility in pricing as the market adjusts to ongoing events.

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Seattle Construction Cost Index

(JANUARY 2009 = 100)

Advice for Building Owners in Seattle

Overall, we have seen construction costs remain relatively flat in 2020. While there is significant downward pressure as trade contractors and suppliers look to rebuild their backlogs, there are also upward pressures on costs. The global coronavirus pandemic and recent natural disasters in the U.S. have resulted in supply chain disruptions, driving cost increases for many materials. The most notable increases have been seen for lumber, PVC, steel and copper. In fact, costs for lumber have doubled since March. We expect to see overall project costs remaining flat with some continued volatility in pricing as the market adjusts to ongoing events.

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