Cost Per Square Foot Benchmarks Miss Wide Local Spread in Bid Tabs

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For mortgage pros, the takeaway is simple: national construction-cost shortcuts can mislead borrower expectations, builder budgets, and collateral conversations.

HousingWire reported on October 28, 2026, that the national cost per square foot can miss the mark in both directions when compared with public bid tabs. The supplied summary says those bid tabs showed about a 3x spread for the same concrete flatwork item, ranging from $4.50 to $13.68 per square foot.

That matters for loan officers because borrowers, builders, and referral partners often use cost-per-square-foot shortcuts early in a transaction. When the shortcut is off, the ripple can hit budget conversations, renovation expectations, construction-loan planning, and the way a borrower thinks about whether a project is financially realistic.

Key takeaways

• HousingWire reported that public bid tabs showed roughly a 3x spread for the same concrete flatwork item.
• The reported range ran from $4.50 to $13.68 per square foot, according to the supplied summary.
• The story is a reminder that national construction-cost averages can be wrong both high and low, depending on the local market and line item.
• Loan officers working construction, renovation, or purchase files should be cautious when borrowers rely on broad cost-per-square-foot assumptions.

Sources

• HousingWire — The national cost-per-square-foot is wrong in both directions

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