Section 202 and 811 Construction Cost Indices

From: HUD USER News

In 2005, HUD commissioned the NAHB Research Center to
conduct an evaluation of the Department's method of
determining construction and development costs relative
to Section 202 and Section 811 supportive housing for
the elderly and persons with disabilities. The Research
Center collected detailed development cost information
from 544 projects completed from January 2000 through
December 2002. Center staff then analyzed each of the
major construction cost indices in use - the Urban
Consumer Price Index (CPI-U), the Builders' Economic
Council Index (BEC), R.S. Means Residential Construction
Cost Index, the Craftsman National Construction Cost
Estimator, and the Marshall and Swift Residential Cost
Handbook. The resulting variations, compared to
historical costs of Section 202 and 811 projects and to
basic program cost limits, indicate which construction
cost indices and models would be most effective for
future use. The analysis also considers appropriate
adjustments for geographic location, inflation, and
factors such as regulatory processes, seasonal
conditions, accessibility requirements, environmental
conditions, and hazard mitigation.
 
Results and final recommendations from this study are
published in Construction Cost Indices: HUD Section 202
and 811 Supportive Housing Programs. In addition, the
report contains an Excel-based interactive cost model
that you can use to estimate project costs. The study is
available online
at https://www.huduser.gov/portal/publications/hsgfin/costindices.html.
 
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