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Hermanson Construction Cost Index - Q3 2020

Sep 4, 2020 | Source: Hermanson Marketing Mechanical Construction Cost Index

Many of Hermanson’s clients – both owners and general contractors – continuously seek to understand the trends impacting Mechanical Construction Cost.

Hermanson’s Estimating team has long tracked key construction cost indicators as part of our continuous effort to provide accurate costing information. Now, every quarter, we are publishing a basic Mechanical Construction Cost Index to help our clients understand mechanical market conditions and to plan their projects.

Hermanson’s Mechanical Construction Cost Index is based on a comprehensive, representative Puget Sound region project. A complete estimate for this baseline project was completed is Q4 2017, and is updated with current pricing following the end of each quarter. Through Q3 2020, an overall increase of 4.4% was realized. Factors that influenced this increase:

MATERIALS

  • 10.3% Increase in Galv. Sheetmetal Rolls and Flat Stock
  • 20% Increase in Copper
  • 10% Increase in PVC

LABOR

  • Fitter & Plumber Wage Rate Increase (Local 32)
  • Sheetmetal Wage Rate Increase (Local 66)

Hermanson-CCI-Q3-2020_01.jpg Hermanson-CCI-Q3-2020_03.jpg

 

Hermanson’s baseline project estimate contains Puget Sound pricing the following components:

Plumbing

  • Labor

  • Material

    • PVC

    • Cast Iron

    • Copper & Steel Threaded Pipe

    • Restroom Fixtures

HVAC

  • Labor

  • Material

    • Ductwork

    • Pump

    • Copper & Steel Threaded Pipe

    • Exhaust Fan

    • Accessories