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What the Data Says: Concrete Cost Updates

By Gordian

Gordian’s RSMeans Data is North America’s most comprehensive, and most trusted, construction cost database. Containing upwards of 92,000 construction material, labor and equipment costs, RSMeans Data is prized by architects, engineers and contractors for accurate and current prices.

Regular, comprehensive updates to the database make it a reliable resource for construction professionals. They also empower Gordian’s internal team of data analysts and cost engineers to track long-term price trends, providing industry executives and leaders with insights they can use to weather cost volatility, stay ahead of the curve and make more informed business decisions.

In this blog post, we’ll use RSMeans Data to provide a quarterly analysis of the price of concrete, one of the construction industry’s most vital materials.

DISCLAIMER: The costs referenced below represent the national average and are used for reference purposes only. Costs in your local market may differ.

Tracking the Cost of Concrete With RSMeans Data

What the Data Says: Concrete Cost Updates 1

January 2024

While most concrete costs fall, the price of concrete block peaks and shows no sign of slowing down. Demand for concrete is high and production is low due to shortages of sand and other raw materials.

November 2023

Concrete and masonry costs are up approximately 3.9% compared with November of 2022. Concrete finishing helps drive this increase with an 8.5% hike, followed by a 6% price increase for concrete pouring, cast-in-place concrete and structural concrete. On the other side of the coin, as supply lines stabilize, prices for common concrete products drop.

However, given concrete’s correlation to project starts, it is worth noting that as the construction industry rebounds after a volatile couple of years, demand for concrete is likely to rise. The price of concrete will rise with it.

Get analysis and commentary on construction material prices and labor costs, including quarterly reports, in this resource hub.

July 2023

After peaking in 2022, concrete costs and masonry prices largely decline. Even the price of concrete block, which had increased for two years, finally ebbs in the third quarter of 2023. Gordian’s data experts report cautious optimism that concrete costs will settle as 2023 comes to an end.

January 2023

Concrete costs present a mixed bag over the course of 2022. Overall, they increase approximately 15%, with concrete block, grid reinforcement products and cast roof decks leading the uptick. Masonry costs, on the other hand, rise a modest 5.5% over the same timeframe.

Entering 2023, supply constraints drive up concrete costs across the board. A gypsum shortage impacts Portland ready-mix concrete, specifically. Supply chain shifts as a result of the Russian invasion of Ukraine affect the availability of concrete more broadly.

Domestically, Gordian’s experts find dramatic regional variances in concrete costs. Barge traffic on the Mississippi River hits a dry spell, as the U.S. Army Corps of Engineers report a 20% traffic reduction compared to its ten-year average. Attributed to low-water levels, the dearth of barge traffic squeezes the mobility of raw materials. Thus, regions nearer the Mississippi are seeing significantly different prices than those that are farther away.

January 2022

Due in large part to fuel price escalations and other transportation expenses, ready-mix concrete costs increase by 28% since January of 2021.

About Gordian

Gordian is the leading provider of Building Intelligence™ Solutions, delivering unrivaled insights, robust technology and expert services to fuel customers’ success through all phases of the building lifecycle. Gordian created Job Order Contracting (JOC) and the industry-standard RSMeans Data. We empower organizations to optimize capital investments, improve project performance and minimize long-term operating expenses.

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