With buying an existing home being financially out of reach for so many, some people are considering going a different route: Purchasing land and constructing a new house. But when you factor in the cost of the property, labor, and materials—which have also gone up in price, thanks to supply chain issues and inflation—building a new home is unlikely to be cheaper, at least according to a new report from Today’s Homeowner.
Of course, a lot depends on the size of the house you’re building, the type of materials and furnishings you plan to use, and where you live. To give you an idea of what you might end up paying in your area, here are Today’s Homeowner’s estimates of the average cost of building a new house in each state.
The cost of building a new house in each state
To rank the states for their report, Today’s Homeowner estimated the average price of building a new 2,100-square-foot spec home, excluding “the cost of a land plot and development” in each location. Using that methodology, the average cost of building a new home in the United States is $332,397, which comes out to $158 per square foot.
Here are the average costs for each state, ranked from least to most expensive:
- Mississippi
Total price: $287,670
Price per square foot: $137 - Arkansas
Total price: $288,175
Price per square foot: $137 - Alabama
Total price: $291,397
Price per square foot: $139 - Louisiana
Total price: $296,107
Price per square foot: $141 - North Carolina
Total price: $297,062
Price per square foot: $141 - Florida
Total price: $297,228
Price per square foot: $142 - Oklahoma
Total price: $300,673
Price per square foot: $143 - South Carolina
Total price: $301,079
Price per square foot: $143 - South Dakota
Total price: $301,739
Price per square foot: $144 - Tennessee
Total price: $302,204
Price per square foot: $144 - West Virginia
Total price: $304,383
Price per square foot: $145 - Georgia
Total price: $305,143
Price per square foot: $145 - Kentucky
Total price: $308,661
Price per square foot: $147 - Texas
Total price: $309,334
Price per square foot: $147 - Virginia
Total price: $310,815
Price per square foot: $148 - Kansas
Total price: $312,435
Price per square foot: $149 - New Mexico
Total price: $314,409
Price per square foot: $150 - Arizona
Total price: $317,153
Price per square foot: $151 - Vermont
Total price: $322,652
Price per square foot: $154 - Iowa
Total price: $324,620
Price per square foot: $155 - Michigan
Total price: $325,347
Price per square foot: $155 - Idaho
Total price: $326,675
Price per square foot: $156 - Nevada
Total price: $326,753
Price per square foot: $156 - Delaware
Total price: $329,212
Price per square foot: $157 - Wyoming
Total price: $329,590
Price per square foot: $157 - Indiana
Total price: $329,607
Price per square foot: $157 - Colorado
Total price: $330,238
Price per square foot: $157 - Nebraska
Total price: $332,676
Price per square foot: $158 - Ohio
Total price: $333,741
Price per square foot: $159 - Montana
Total price: $334,808
Price per square foot: $159 - Wisconsin
Total price: $335,299
Price per square foot: $160 - Maryland
Total price: $337,392
Price per square foot: $161 - Utah
Total price: $338,173
Price per square foot: $161 - Oregon
Total price: $338,532
Price per square foot: $161 - Pennsylvania
Total price: $339,167
Price per square foot: $162 - North Dakota
Total price: $340,480
Price per square foot: $162 - Missouri
Total price: $341,452
Price per square foot: $163 - Maine
Total price: $345,816
Price per square foot: $165 - Alaska
Total price: $348,591
Price per square foot: $166 - Minnesota
Total price: $352,943
Price per square foot: $168 - New Hampshire
Total price: $361,098
Price per square foot: $172 - Washington
Total price: $363,120
Price per square foot: $173 - California
Total price: $363,314
Price per square foot: $173 - Connecticut
Total price: $367,853
Price per square foot: $175 - New York
Total price: $371,875
Price per square foot: $177 - Rhode Island
Total price: $372,069
Price per square foot: $177 - Illinois
Total price: $380,189
Price per square foot: $181 - New Jersey
Total price: $387,262
Price per square foot: $184 - Massachusetts
Total price: $402,709
Price per square foot: $192 - Hawaii
Total price: $431,364
Price per square foot:$205
The full report contains additional information about the methodology used to compile this list, as well as a breakdown of the types of expenses associated with building a new home.
