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document.body, { attributes: true, childList: false, subtree: true, attributeFilter: [ 'style', 'class' ], }); } else { triggerPostRender(); } } );} );</script> </div></div><div class="c-sidebar__row"><div class="c-article-about ui-bg--athens-grey"><h6 class="c-article-about__heading">Connect</h6><div class="c-article-about__socials"><ul class="c-socials-list"><li class="c-socials-list__item"> <a class="c-cta c-cta--social" href="https://www.linkedin.com/company/rider-levett-bucknall_3/" target="_blank"> <i class="fab fa-linkedin"></i> </a></li><li class="c-socials-list__item"> <a class="c-cta c-cta--social" href="https://twitter.com/rlbamericas" target="_blank"> <i class="fab fa-x-twitter"></i> </a></li><li class="c-socials-list__item"> <a class="c-cta c-cta--social" href="https://www.youtube.com/channel/UCAvBnI_4p2HcAtP7KQ5nL0A" target="_blank"> <i class="fab fa-youtube"></i> </a></li></ul></div></div></div></div></div></div></div><div class="l-sec__main-content"><div class="ui-cms-editable ui-cms-editable--insights"><h3 class="wp-block-heading">Construction costs are up 1.12% from Q1 and up 5.41% year-over-year.</h3><p class="has-vivid-red-color has-text-color has-link-color wp-elements-5b46dccca0e5cf54eaa2a5e144695ec4"><em><strong>This edition of our QCR features the University of Maryland Eastern Shore (UMES) School of Pharmacy and Health Professions.</strong> Click <a href="https://www.rlb.com/americas/projects/university-of-maryland-eastern-shore-school-of-pharmacy-and-health-professions/">here</a> to learn more about how RLB helped UMES create spaces for innovative research.</em></p><p>The latest RLB quarterly cost report, with data current to mid-Q2 2024, shows that the national average increase in construction costs was 1.12 percent over the previous quarter. Boston, Chicago, Denver, Honolulu, Los Angeles, Portland, San Francisco, and Washington DC experienced increases over the national average this quarter. Denver, Las Vegas, New York, Phoenix, and Seattle experienced gains that were less than the national average. </p><blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"><p>“The construction industry continues to experience strong demand, but uncertainty is being fueled by high interest rates and increasing labor costs for the rest of 2024. The approaching presidential election and potential policy adjustments are also contributing to this uncertainty. Nevertheless, overall growth in the construction sector is expected to remain positive this year.”</p> <cite>Paul Brussow, President of RLB North America</cite></blockquote><h3 class="wp-block-heading">A few key insights:</h3><p>The chart below shows a comparative map of the annual percentage change for the U.S.</p><figure class="wp-block-image size-full"><img fetchpriority="high" decoding="async" width="6765" height="4150" src="https://s31756.pcdn.co/americas/wp-content/uploads/sites/4/2024/07/US-Comparative-Cost-Index-Map-Q2-2024-01.png" alt="" class="wp-image-9003241322450984" srcset="https://s31756.pcdn.co/americas/wp-content/uploads/sites/4/2024/07/US-Comparative-Cost-Index-Map-Q2-2024-01.png 6765w, https://s31756.pcdn.co/americas/wp-content/uploads/sites/4/2024/07/US-Comparative-Cost-Index-Map-Q2-2024-01-768x471.png 768w, https://s31756.pcdn.co/americas/wp-content/uploads/sites/4/2024/07/US-Comparative-Cost-Index-Map-Q2-2024-01-1536x942.png 1536w, https://s31756.pcdn.co/americas/wp-content/uploads/sites/4/2024/07/US-Comparative-Cost-Index-Map-Q2-2024-01-2048x1256.png 2048w, https://s31756.pcdn.co/americas/wp-content/uploads/sites/4/2024/07/US-Comparative-Cost-Index-Map-Q2-2024-01-1920x1178.png 1920w, https://s31756.pcdn.co/americas/wp-content/uploads/sites/4/2024/07/US-Comparative-Cost-Index-Map-Q2-2024-01-312x190.png 312w, https://s31756.pcdn.co/americas/wp-content/uploads/sites/4/2024/07/US-Comparative-Cost-Index-Map-Q2-2024-01-1200x736.png 1200w, https://s31756.pcdn.co/americas/wp-content/uploads/sites/4/2024/07/US-Comparative-Cost-Index-Map-Q2-2024-01-114x70.png 114w, https://s31756.pcdn.co/americas/wp-content/uploads/sites/4/2024/07/US-Comparative-Cost-Index-Map-Q2-2024-01-960x589.png 960w, https://s31756.pcdn.co/americas/wp-content/uploads/sites/4/2024/07/US-Comparative-Cost-Index-Map-Q2-2024-01-286x175.png 286w" sizes="(max-width: 6765px) 100vw, 6765px" /></figure><ul class="wp-block-list"><li>During Q2 2024, the U.S. national average increase in construction cost is approximately 1.12 percent; compared to 1.31 percent in the first quarter.</li><li>Year-over-year, the U.S. national average increase in construction costs is approximately 5.41 percent; compared to 5.85 percent YOY in the first quarter. </li><li>The construction unemployment rate is down slightly to 5.4 percent; down from 5.6 percent in the same period last year</li><li>The Architectural Billings Index (ABI) is 42.4; a decrease of nearly 6 points over the previous month.</li></ul></div><div class="c-contacts-cards c-contacts-cards--double c-contacts-cards--full"><div class="c-contacts-cards__info c-contacts-cards__info--mb-invisible"><div class="c-contacts-cards__title"><p class="t-body t-medium t-uppercase ui-color--white"> FURTHER INFORMATION:</p></div><div class="c-contacts-cards__cta"> <a class="c-contacts-cards__link t-btn t-uppercase ui-color--white" href="https://www.rlb.com/americas/about/contact-offices/" target=""> <span>FIND YOUR NEAREST RLB OFFICE</span> <i class="c-contacts-cards__icon fal fa-arrow-right"></i> </a></div></div><div class="c-contacts-cards__content"><div class="c-contacts-cards__row"><div class="c-contacts"><div class="c-contacts__avatar"> <noscript><img class="c-contacts__img" src="https://s31756.pcdn.co/americas/wp-content/uploads/sites/4/2020/07/Taryn_Harbert_RLB-106x106.jpg.optimal.jpg" alt="Taryn Harbert"/></noscript><img class="lazyload c-contacts__img" src='data:image/svg+xml,%3Csvg%20xmlns=%22http://www.w3.org/2000/svg%22%20viewBox=%220%200%20210%20140%22%3E%3C/svg%3E' data-src="https://s31756.pcdn.co/americas/wp-content/uploads/sites/4/2020/07/Taryn_Harbert_RLB-106x106.jpg.optimal.jpg" alt="Taryn Harbert"/></div><div class="c-contacts__info"><h6 class="c-contacts__heading ui-color--main t-heading-6"> Taryn Harbert</h6><div class="c-contacts__title-wrapper"><p class="c-contacts__title ui-color--hoki t-body"> Associate</p><div class="c-contacts__title-box"> <i class="c-contacts__icon fal fa-mobile ui-color--hoki"></i> <a class="c-contacts__title c-cta ui-color--hoki t-body" href="tel:+1 602 443 4848"> +1 602 443 4848 </a></div><div class="c-contacts__title-box"> <i class="c-contacts__icon fal fa-at ui-color--hoki"></i> <a class="c-contacts__title c-cta ui-color--hoki t-body" href="mailto:taryn.harbert@us.rlb.com"> taryn.harbert@us.rlb.com </a></div></div></div></div></div></div><div class="c-contacts-cards__info-wrapper c-contacts-cards__info--mb-visible"><div class="c-contacts-cards__info"><div class="c-contacts-cards__cta"> <a class="c-contacts-cards__link t-btn t-uppercase ui-color--white" href="https://www.rlb.com/americas/about/contact-offices/" target=""> <span>FIND YOUR NEAREST RLB OFFICE</span> <i class="c-contacts-cards__icon fal fa-arrow-right"></i> </a></div></div></div></div></div></div></div><div class="l-sec"><div class="c-blog-post-nav"> <a class="c-blog-post-nav-btn c-blog-post-nav-btn--prev" href="https://www.rlb.com/americas/insight/rlb-construction-cost-report-north-america-q1-2024/"><div class="c-blog-post-nav-btn__short-label"> Prev</div><div class="c-blog-post-nav-btn__label"> Previous</div> <span class="c-blog-post-nav-btn__desc"> RLB Construction Cost Report North America Q1 2024 </span><div class="c-blog-post-nav-btn__btn c-blog-post-nav-btn__btn--prev"><div class="ui-slider-navigation-btn ui-slider-navigation-btn--red js-slider-btn-prev"> <i class="fal fa-chevron-left"></i></div></div> </a><div class="c-blog-post-nav-cta"><div class="c-blog-post-nav-cta__link"> Like this post? 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