International design and consultancy firm Arcadis has named New York City as the world's most expensive city in which to build, according to its annual International Construction Costs Index. Building in New York is 50% more expensive than in the average U.S. metro and 20% more expensive than in other pricey cities like Boston, Chicago and Los Angeles.
San Francisco follows behind New York in cost to build and brings its own set of issues — seismic requirements, lack of contractors and limited real estate — that raise costs. On the other end of the spectrum, building in Houston will cost developers 10% less than the national average.