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Hermanson Construction Cost Index - Q1 2022

Mar 22, 2022 | 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.

For at least the first quarter of 2022 double-digit increases in mechanical construction costs took a break. Netting an overall increase of 1.1%, Q1-2022 benefitted from stabilized pricing in most cost components. 

After significant increases in equipment pricing in Q4-2021, HVAC costs were up slightly, with both commodities and equipment remaining stable. Plumbing costs were up 1.8%, primariliy reflecting increases in PVC and Cast Iron. Scheduled regional labor rate increases are also incorporated into the overall uptick. 

Continuing concerns about nternational unrest, rising commodities pricing, labor shortages, and continuing pandemic impacts have most in the industry remaining cautious. 

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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