Commercial remodeling is booming across the US, and some states are spending more than others. To find out which states are spending the most, BuildFax analyzed the more than 5.2 million commercial properties in our database to determine the average remodeling job cost per state in 2016.
[infogram id=”_/csWhjq5yearbmCSBOh0g” prefix=”vEx” format=”interactive” title=”Commercial Remodel Costs”]
Louisiana is the biggest spender, averaging $1,308,870 for a commercial renovation. Second, Maryland, which averaged $983,537. Third, Hawaii with an average of $915,627. Fourth, Massachusetts, which averaged $907,364. And fifth, Kansas, with an average of $824,529.
Here’s the complete top ten list:
BuildFax analyzed the more than 5.2 million commercial properties in our database to determine the average remodeling job cost per state in 2016. To do this we used advanced language processing and text mining to identify relevant remodels and additions with a job cost recorded of over $1,000. The values reported were determined using our proprietary algorithm which analyzes the relationship between reported job cost and true construction expense across the US.