Hermanson Construction Cost Index - Q4 2023

Jan 17, 2024 | Mechanical Construction Cost Index

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

In the final quarter of 2023, we saw a decrease in mechanical construction costs, with our overall project price dropping 2.1% when compared to Q3 2023. The pricing shows that HVAC costs went down by approximately 2.0%, and plumbing costs decreased by 2.2%.

The primary factors for the change in costs were lower material prices for copper pipe, steel pipe, and PVC pipe.

Blog-Charts---Q4.23.png

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

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