According to the report from Whitestone Research, the average M&R cost per square foot ranged from $3.39 in New York City to $1.17 in Beaufort, S.C. In Washington D.C., the benchmark city for Whitestone’s Building M&R Cost Reference, the cost increased by 1.45 percent over the past year. The overall M&R costs for the 200 U.S. cities increased by 1.8 percent in 2004.
Top 10 comparison of M&R costs by metropolitan area:
1. New York $3.39
2. Yonkers, NY $3.05
3. San Francisco, CA $2.96
4. San Jose, CA $2.84
5. Philadelphia, PA $2.80
6. Trenton, NJ $2.78
7. Oakland, CA $2.74
8. Stamford, CT $2.72
9. Hilo, HI $2.71
10. Honolulu, HI $2.71
M&R cost of a model two-story office building over a 50-year period as per the data defined in the Whitestone Building Maintenance and Repair Cost Reference, 2004–2005. Canadian Prices are adjusted to the U.S. dollar using the Sept. 15, 2004 source data from the Federal Reserve Bank of New York.
Whitestone Research specializes in applied economic research and software development. Whitestone products and services are used every year by hundreds of major corporations, government agencies, and public and private institutions.
