Metal Building Prices & Construction Prices for Labor and Materials in Nevada vs. USA
The U.S. has seen a significant increase in the average cost of construction, labor, and materials over the last few years. According to the NAHB, the average construction cost of a home in the United States in 2013 was $246,453. This average is nearly a $60,000 increase since 2011, and the biggest jump the U.S. has seen since 1998. This article explores the prices that make up these costs (including structural steel) as a national average as compared to the state of Nevada alone.
Average Construction Cost Comparisons
The cost of construction per square foot increased from $82 to $95 between 2011 and 2013 across the nation as a whole. But the state of Nevada saw an
even bigger increase per square foot when the average cost of construction shot up to $111. That’s an astounding 20.7% jump in Nevada alone.
Framing and trusses often account for the biggest share of construction costs, usually as a result from increasing costs in lumber. With this in mind, it could be assumed that the increase in price for framing and trusses from $11 per square foot in 2011 to $16 per square foot in 2013 had the biggest impact on this significant increase in construction costs.
The latest survey from the NAHB also found that many builders have run into labor shortages as well. Framing crews are the least available of all types of labor needed for constructing a home – and 48% of builders are reporting a shortage nationwide. This shortage of framing crews is also a significant factor in rising construction costs both in Nevada and across the rest of the United States.
Metal Buildings / Structural Steel Comparisons
Pound for pound, the selection of structural steel for a buildings framing system or roofing greatly benefit a project. Other materials used in the project are measured against the standard set by structural steel as the material of choice. Structural steel often enhances construction productivity and costs 5% to 7% less than a concrete framing system.
Going by the latest numbers from www.scrapregister.com the cost of steel across the U.S. is $368.39 USD/MT. Nevada buyers can expect to pay a slightly higher fee of $370.47 USD/MT.
Structural steel prices have been difficult to pinpoint over the last 30 months as they have fluctuated widely. However, as reported on www.forconstructionpros.com, the IHS reports prices for structural steel are expected to stabilize in the latter half of 2014. You can read the report here: IHS Reports Prices for Fabricated Structural Steel Expected to Stabalize for Balance of 2014.
National Association of Homebuilders www.nahb.org