2026 Cost Per Sq Ft?

[Ravi Kaku]

I'm curious what people are actually seeing on recent projects. I know there can be a huge range depending on location, finish level, lot, and whether we're talking about a true custom build or a more standardized spec.

For those actively building or completing new construction, what are you currently seeing for:

• Construction cost per sq ft — excluding land
• Basic/spec-level finishes vs. higher-end finishes
• Does your $/sq ft include the GC, permits, plans, utilities, etc., or is it primarily hard construction costs?
• Are there particular items that have moved the most in the last 12–18 months?
• For a typical investor-grade spec home, what would you consider a realistic all-in construction budget per sq ft today?

I'm especially interested in hearing from builders and investors who have actually completed projects recently rather than general estimates from online calculators.

For context, I'm primarily interested in the Houston/Texas market, but I'd be interested in hearing how other markets compare as well.