Whether you're budgeting for a new school, apartment, office or hospital, understanding construction costs early can improve planning and funding decisions. This guide provides benchmark construction costs for common public and commercial building types using RSMeans™ Data and construction cost estimating best practices.
Construction Cost Benchmarks at a Glance: 2026 Chart
| Building Type | Typical Cost Range | Cost Per Sq. Ft. |
|---|---|---|
| Hospital | $87.97-$202.63 million | $439.85-$454.33 |
| Office | $460,000 (one-story building)-$364 million+ (11-20 story building) | $202-$574 |
| Apartment | $7.1-$54.6 million | $220-$700 |
| K-12 School | $15-$25 million | $221-$239 |
How Much Does It Cost to Build a Hospital?
Quick Answer: For most healthcare organizations and developers, hospital construction costs in 2026 average $439.85 to $454.33 per square foot, resulting in a total investment of approximately $88 million to more than $202 million for a full-scale hospital project.
The average cost to build a hospital in the United States in 2026 ranges from approximately $439.85 to $454.33 per square foot, according to the latest construction cost data. These estimates are based on a typical two- to three-story hospital facility and vary depending on the building's structural system and exterior materials, such as curtain wall construction with rigid steel framing or brick veneer with wood-frame construction.
Hospital size has a significant impact on total project costs. Most newly constructed hospitals range from 200,000 to 446,000 square feet, depending on service offerings, bed capacity and specialty care requirements. Based on Gordian’s most recent square-foot construction cost data, the total cost to build a hospital in 2026 typically falls between $87.97 million and $202.63 million or more.
Key Cost Drivers
- Equipment
- Operating rooms
- MEP systems
- Site conditions
How Much Does Office Construction Cost Per Square Foot?
Quick Answer: Office construction costs typically range from $202 to $574 per square foot, with total project costs varying from under $500,000 for smaller office buildings to more than $364 million for large-scale commercial office developments.
The average cost to build an apartment in the United States ranges from approximately $202 to $574 per square foot, according to the latest office construction cost data. Costs vary based on factors such as building height, location, design complexity, building systems and material selections. Office projects can range from small one-story buildings to large high-rise developments, with construction requirements and costs increasing as building size and complexity grow.
Office buildings can range from approximately 1,700 square feet for a small single-story office to more than 920,000 square feet for a large multi-story tower. Based on current construction data, the total cost to build an office can range from approximately $460,000 for a small office building to more than $364 million for a large high-rise office project.
Key Cost Drivers
- Square footage
- Location
- Type of building
How Much Does Apartment Construction Cost Per Square Foot?
Quick Answer: The cost to build an apartment complex typically ranges from $220 to $700 per square foot, with total project costs for a standard mid-rise development averaging between $7.1 million and $54.6 million, depending on location, building specifications and project scale.
Construction costs vary based on factors such as building height, location, unit mix, amenities, parking requirements and material selections. Mid-rise apartment complexes (4-7 stories) and high-rise apartment buildings (8+ stories) typically require more complex structural systems and building components, which can significantly impact overall project costs.
Apartment complex construction costs can vary dramatically depending on project size and scope. Based on current data, a typical mid-rise apartment complex can cost between $7.1 million and $54.6 million to build, with larger high-rise developments often exceeding these figures due to increased density, infrastructure requirements and premium finishes. Developers should also account for site preparation, permitting, utility connections and common-area amenities when budgeting for a multifamily housing project.
Key Cost Drivers
- Building permits
- Financing
- Design and layout
- Land
How Much Does It Cost to Build a K-12 School?
Quick Answer: For most school districts and educational institutions, the cost to build a K-12 school in 2026 averages between $221 and $239 per square foot, depending on the type of school and location. Total project costs can vary widely based on building size, site conditions, sustainability goals and specialized educational requirements.
School construction costs can vary significantly depending on geographic market conditions and project scope. Major metropolitan areas tend to command substantially higher construction costs, with New York City ranking among the most expensive markets for K-12 school construction. In addition to classroom space, modern school projects often incorporate enhanced HVAC systems, energy-efficient features, improved acoustics, advanced safety measures and sustainable design elements that can impact overall project budgets.
FAQs
What type of building costs the most per square foot?
Apartment complexes have the highest potential cost per square foot, ranging from $220 to $700 per square foot. Office buildings follow with a range of $202 to $574 per square foot, while hospitals average $439.85 to $454.33 per square foot and K-12 schools typically range from $221 to $239 per square foot.
However, the "most expensive" building type depends on how costs are measured. Hospitals often have the highest baseline construction costs because of advanced mechanical, electrical and plumbing (MEP) systems, specialized medical equipment, operating rooms and stringent regulatory requirements.
Apartment buildings can exceed hospital costs on a per-square-foot basis when luxury finishes, structured parking and high-rise construction are involved.
How do construction costs vary by state?
Construction costs can vary by 20% to 50% or more between states and cities, making regional cost data essential for accurate budgeting and planning.
Why do construction costs change every year?
Construction costs change every year because labor rates, material prices, market demand, regulations and economic conditions constantly evolve, affecting the total cost of building projects.
What factors have the biggest impact on construction budgets?
The biggest factors affecting construction budgets are location, building size, project complexity, MEP systems, site conditions and material selections.
Together, these variables typically influence cost more than any other project characteristic.