New York City is the most expensive city to build in

Project Supervision & Management, Management & Executive, Commercial...

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New York City maintains the top spot for 2 years in a row as the most expensive city to build in around the world according to Turner and Townsend’s annual report, the 2018 International Construction Market Survey.  On average it cost $362 per square foot to build in New York City.  As far as labor goes the city’s average that a construction employee will make an hour is $98.30.

Wages for construction employees are starting to rise to meet the demands of a busy market.  Contractors have seen a 10% increase in their hourly wage to $29.63 per hour as well. 

New York City large-scale projects such as Hudson Yards, Pacific Park and Essex Crossing has brought in over 30,000 jobs into the city. There is a high demand for skilled employees.  Many companies are willing to pay generous salaries as well as offer great benefits to attract top talent to their companies.  Senior level roles with these companies can see salaries reaching 200K.  With many of the projects in development, now is the time to enter a thriving industry.

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