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

In the first quarter of 2024, we saw an increase in mechanical construction costs, with our overall project price rising 5.0% compared to Q4 2023. The pricing shows that HVAC costs increased by approximately 8.2%, and plumbing costs decreased by 1.4%.

The primary factors for the change in costs were minor increases in the cost of equipment, labor rate increases, and a decrease in copper prices.