- Homepage
- Cost to Build a Condominium
How Much Does It Cost to Build a Condominium?
Leading provider of condominium construction services
Apartment buildings and condo buildings come in many sizes and types with a range of associated costs. The national average cost range to build a condominium building is $2 to $4 million, with most people paying around $3 million for a mid-range 20-unit building with a shared lobby and amenities. This project’s low cost is $400,000 for a 2-unit condo home in a suburban area. The high cost is $14 million for an upscale condominium complex with 100 units and shared amenities in an upcoming urban area. Condos often resemble apartment buildings or complexes at first glance and are often constructed in the same way with similar construction costs. For accurate planning, estimate condominium construction costs including materials and labor.
The difference comes later in how the units are divided and used. A developer building an apartment complex may use it as a long-term investment property.
Hire Contractor For Your
Build Condominium Costs
The variations come from such things as the class, the location, and such things as the price for land purchase, prep work, parking lot pavements, play area installations, and more. That bumps up total average costs for the entire two-unit building to well over $530,000.
There is also the need to add in the costs of architectural work, contractor’s fees, permits, and so on. While some industry experts say that it all averages out to roughly $95 per square foot, that is not accurate, and in reality, it will range from $95 up to more than $235 per square foot.
Condominium building: two-unit, 1,200-1,500 sq.ft. townhouse style Class 1 building.
Condo Construction Cost per Square Foot
The cost of condo construction varies tremendously from unit to unit. Costs fluctuate due to the location, with urban areas costing more than suburban locations. Costs also vary depending on the unit type, amenities, and building type. This creates a cost range per square foot from $135 to $450 a square foot. These costs are for construction and do not account for land acquisition, parking, or the soft costs associated with listing and selling the finished units.
Condo Construction Cost per Unit
Apartments and other types of multi-family dwellings, and condos can sometimes be given costs on a per unit or square foot basis. This pricing structure makes it easier to compare the costs of a 10-unit building with a 20 or 100-unit building because square footage varies based on the units’ sizes and building size. The average cost range for condo building construction is $85,000 to $180,000 per unit. Some lower-end condos cost less to build, and higher-end buildings cost more, but most fall in this range.
Modular Condo Cost
It is very common, especially in urban areas, for large buildings to be built modularly. This means large sections of the building are constructed off-site. The sections are moved into place and assembled at the building site. This results in stronger buildings with fewer weather-related delays and lower building costs.
Prices vary depending on the area but generally cost between $145 and $180 a square foot, making this construction method more affordable, especially for luxury high rises.
Condo vs Apartment
Condos and apartment buildings are extremely similar. They are built using the same methods and materials and have very similar costs to build. The difference is that in a condo building, each occupant owns their unit. The building is owned by the condo association and paid for and maintained by the individual owners, who pay a monthly fee.
An apartment building is owned by a single entity, who rents out each unit. Renters do not own anything in the building and do not pay extra for maintenance costs. They are also not responsible for repairs or building upgrades, while condo owners are.
Building a condo building or apartment building have similar costs per square foot. Costs are ultimately determined by the number of units and location.
| Type | Average Costs per Sq.Ft. (Labor Included) |
|---|---|
| Apartment | $105 – $450 |
| Condo | $145 – $380 |
Question Answer
Frequently Asked Question
The average cost to build a condominium ranges from $2 to $4 million, with most mid-sized 20-unit buildings costing around $3 million. On a per-square-foot basis, construction costs generally range from $135 to $450, depending on location, design, and amenities.
The biggest cost factors include location, land purchase, building size, unit type, architectural design, amenities, permits, and contractor fees. Urban areas are typically more expensive than suburban developments, and luxury condos with shared amenities cost significantly more.
On average, the cost to build a single condominium unit ranges between $85,000 and $180,000. Lower-end condos may cost less, while luxury units with high-end finishes and amenities can exceed this range.
Both are constructed using similar methods and materials, but ownership differs:
In a condo, each unit is owned individually, and owners share responsibility for common areas through a condo association.
In an apartment building, a single owner or company owns all the units and rents them out to tenants.
Comprehensive Trade-Specific Estimates
At Estimate Florida Consulting, we offer detailed cost estimates across all major trades, ensuring no part of your project is overlooked. From the foundation to the finishing touches, our trade-specific estimates provide you with a complete and accurate breakdown of costs for any type of construction project.
Our Simple Process to Get Your Estimate
01
Upload Plans
Submit your project plans, blueprints, or relevant documents through our online form or via email.
02
Receive Quotation
We’ll review your project details and send you a quote based on your scope and requirements.
03
Confirmation
Confirm the details and finalize any adjustments to ensure the estimate meets your project needs.
04
Get Estimate
Receive your detailed, trade-specific estimate within 1-2 business days, ready for your project execution.
Client Trust Us
Our Clients & Partners
We pride ourselves on building strong, lasting relationships with our clients and partners across the construction industry.
Testimonials
What Our Clients Say?
We take pride in delivering accurate, timely, and reliable estimates that help contractors and builders win more projects. Our clients consistently praise our attention to detail, fast turnaround times, and the positive impact our estimates have on their businesses.
Estimate Florida Consulting has helped us win more bids with their fast and accurate estimates. We trust them for every project!
Marvelous Marble
