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Construction cost trends that will shape 2021 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 Q1 2021
(JANUARY 2009 = 100)
Overall Construction Cost Index Q1 2021
(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
The data collected for the Mortenson Cost Index is showing an increase of nearly 5% nationally and 2.4% in Chicago for the first quarter of 2021. This is the largest single quarter increase since its inception, driven by significant disruptions to the supply chain and increases in commodity costs. This will potentially moderate throughout the year as capacity returns to pre-pandemic levels. The current upward pressure is somewhat offset by a competitive market with subcontractors working to fill their capacity.
As markets rebound with increased private and government spending, the industry may see additional upward pressure on pricing. We continue to monitor this somewhat unpredictable market and know that a resilient, agile approach to projects will be necessary in the months to come.
Denver Construction Cost Index
(JANUARY 2009 = 100)
Advice for Building Owners in Denver
The data collected for the Mortenson Cost Index is showing an increase of nearly 5% both nationally and in Denver for the first quarter of 2021. This is the largest single quarter increase since its inception, driven by significant disruptions to the supply chain and increases in commodity costs. This will potentially moderate throughout the year as capacity returns to pre-pandemic levels. The current upward pressure is somewhat offset by a competitive market with subcontractors working to fill their capacity.
As markets rebound with increased private and government spending, the industry may see additional upward pressure on pricing. We continue to monitor this somewhat unpredictable market and know that a resilient, agile approach to projects will be necessary in the months to come.
Milwaukee Construction Cost Index
(JANUARY 2009 = 100)
Advice for Building Owners in Milwaukee
The data collected for the Mortenson Cost Index is showing an increase of nearly 5% nationally and 7.1% in Milwaukee for the first quarter of 2021. This is the largest single quarter increase since its inception, driven by significant disruptions to the supply chain and increases in commodity costs. This will potentially moderate throughout the year as capacity returns to pre-pandemic levels. The current upward pressure is somewhat offset by a competitive market with subcontractors working to fill their capacity.
As markets rebound with increased private and government spending, the industry may see additional upward pressure on pricing. We continue to monitor this somewhat unpredictable market and know that a resilient, agile approach to projects will be necessary in the months to come.
Minneapolis Construction Cost Index
(JANUARY 2009 = 100)
Advice for Building Owners in Minneapolis
The data collected for the Mortenson Cost Index is showing an increase of nearly 5% nationally and 6% in Minneapolis for the first quarter of 2021. This is the largest single quarter increase since its inception, driven by significant disruptions to the supply chain and increases in commodity costs. This will potentially moderate throughout the year as capacity returns to pre-pandemic levels. The current upward pressure is somewhat offset by a competitive market with subcontractors working to fill their capacity.
As markets rebound with increased private and government spending, the industry may see additional upward pressure on pricing. We continue to monitor this somewhat unpredictable market and know that a resilient, agile approach to projects will be necessary in the months to come.
Phoenix Construction Cost Index
(JANUARY 2009 = 100)
Advice for Building Owners in Phoenix
The data collected for the Mortenson Cost Index is showing an increase of nearly 5% nationally and 6.7% in Phoenix for the first quarter of 2021. This is the largest single quarter increase since its inception, driven by significant disruptions to the supply chain and increases in commodity costs. This will potentially moderate throughout the year as capacity returns to pre-pandemic levels. The current upward pressure is somewhat offset by a competitive market with subcontractors working to fill their capacity.
As markets rebound with increased private and government spending, the industry may see additional upward pressure on pricing. We continue to monitor this somewhat unpredictable market and know that a resilient, agile approach to projects will be necessary in the months to come.
Portland Construction Cost Index
(JANUARY 2009 = 100)
Advice for Building Owners in Portland
The data collected for the Mortenson Cost Index is showing an increase of nearly 5% nationally and 3.8% in Portland for the first quarter of 2021. This is the largest single quarter increase since its inception, driven by significant disruptions to the supply chain and increases in commodity costs. This will potentially moderate throughout the year as capacity returns to pre-pandemic levels. The current upward pressure is somewhat offset by a competitive market with subcontractors working to fill their capacity.
As markets rebound with increased private and government spending, the industry may see additional upward pressure on pricing. We continue to monitor this somewhat unpredictable market and know that a resilient, agile approach to projects will be necessary in the months to come.
Seattle Construction Cost Index
(JANUARY 2009 = 100)
Advice for Building Owners in Seattle
The data collected for the Mortenson Cost Index is showing an increase of nearly 5% nationally and 5.2% in Seattle for the first quarter of 2021. This is the largest single quarter increase since its inception, driven by significant disruptions to the supply chain and increases in commodity costs. This will potentially moderate throughout the year as capacity returns to pre-pandemic levels. The current upward pressure is somewhat offset by a competitive market with subcontractors working to fill their capacity.
As markets rebound with increased private and government spending, the industry may see additional upward pressure on pricing. We continue to monitor this somewhat unpredictable market and know that a resilient, agile approach to projects will be necessary in the months to come.