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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 Q4 2020

(JANUARY 2009 = 100)

Overall Construction Cost Index Q4 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

Our Chicago construction cost index increased 2 percent overall in 2020. Downward pressure continues as some trade contractors and suppliers work to rebuild their backlogs. However, due to pandemic-related disruptions to supply chains we are seeing significant increases for PVC, steel, copper, lumber and glass. We anticipate a continued competitive market with material price fluctuations in the first half of 2021. We recommend planning for project costs to increase 3% in 2021.

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Denver Construction Cost Index

(JANUARY 2009 = 100)

Advice for Building Owners in Denver

Our Denver construction cost index was flat overall in 2020. Downward pressure continues as some trade contractors and suppliers work to rebuild their backlogs. However, due to pandemic-related disruptions to supply chains we are seeing significant increases for PVC, steel, copper, lumber and glass. This, together with losses in productivity due to ongoing COVID-19-related procedures will offset much of the downward pressure in the market. We recommend planning for project costs to increase 2% in 2021.  

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Milwaukee Construction Cost Index

(JANUARY 2009 = 100)

Advice for Building Owners in Milwaukee

Our Milwaukee construction cost index increased 2.6 percent overall in 2020. Downward pressure continues as some trade contractors and suppliers work to rebuild their backlogs. However, due to pandemic-related disruptions to supply chains we are seeing significant increases for PVC, steel, copper, lumber and glass. This, together with losses in productivity due to ongoing COVID-19-related procedures will offset much of the downward pressure in the market. We recommend planning for project costs to increase 3% in 2021.   

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Minneapolis Construction Cost Index

(JANUARY 2009 = 100)

Advice for Building Owners in Minneapolis

Our Minneapolis construction cost index increased 3.1 percent overall in 2020. Downward pressure continues as some trade contractors and suppliers work to rebuild their backlogs. However, due to pandemic-related disruptions to supply chains we are seeing significant increases for PVC, steel, copper, lumber and glass. This, together with losses in productivity due to ongoing COVID-19-related procedures will offset much of the downward pressure in the market. We recommend planning for project costs to increase 3% in 2021.  

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Phoenix Construction Cost Index

(JANUARY 2009 = 100)

Advice for Building Owners in Phoenix

Our Phoenix construction cost index increased 1.7 percent overall in 2020. Downward pressure continues as some trade contractors and suppliers work to rebuild their backlogs. However, due to pandemic-related disruptions to supply chains we are seeing significant increases for PVC, steel, copper, lumber and glass. This, together with losses in productivity due to ongoing COVID-19-related procedures will offset much of the downward pressure in the market. We recommend planning for project costs to increase 3% in 2021.  

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Portland Construction Cost Index

(JANUARY 2009 = 100)

Advice for Building Owners in Portland

Our Portland construction cost index increased 2.2 percent overall in 2020. Downward pressure continues as some trade contractors and suppliers work to rebuild their backlogs. However, due to pandemic-related disruptions to supply chains we are seeing significant increases for PVC, steel, copper, lumber and glass. This, together with losses in productivity due to ongoing COVID-19-related procedures will offset much of the downward pressure in the market. We recommend planning for project costs to increase 3% in 2021. 

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Seattle Construction Cost Index

(JANUARY 2009 = 100)

Advice for Building Owners in Seattle

Our Seattle construction cost index increased 2.2 percent overall in 2020. Downward pressure continues as some trade contractors and suppliers work to rebuild their backlogs. However, due to pandemic-related disruptions to supply chains we are seeing significant increases for PVC, steel, copper, lumber and glass. This, together with losses in productivity due to ongoing COVID-19-related procedures will offset much of the downward pressure in the market. We recommend planning for project costs to increase 3% in 2021. 

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