Growth in the construction industry is building

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We recently released our U.S. Construction Perspective, which includes:

  • Which industry had the highest overall construction spend in 2014
  • What is driving the cost growth
  • Which cities lead in high construction costs
  • 2015 key construction markets
  • What’s next in construction trends

Click here for the full report.

With regard to the Boston market specifically, the Perspective outlines the following:

Construction Cost Projections: Boston and National 2009 - 2020

Construction Cost Projections: Boston and National 2009 – 2020

  • The data indicates a continued trend of growth in construction costs through 2020, with Boston prices staying consistently higher than the national average.
  • High priced labor contributes to larger-than-average construction costs in Boston.
How does Boston currently compare?

How Boston currently compares nationally

  • The average wage for unskilled labor in Boston is $68.35, compared to a national average of $51.67.
  • The average cost for materials in Boston is $259.74, only slightly higher than the national average of $235.07.

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