(The Center Square) – The cost of building a new home in Ohio is expected to rise by $30,000 as the impact of President Donald Trump’s tariffs continues to drive up prices for homebuilders, a national property management group said in a recent analysis.
Evernest looked at lumber, steel and aluminum, copper and drywall costs in August and compared them to a 15.92% tariff rate to calculate expected material increases.
The group did not factor in labor or financing costs, only materials.
“Tariffs on building materials are pushing up the base price of new homes in every state,” the company said. “For younger buyers, the extra $30,000 is a real barrier and not just a line item. The data shows that these policies affect real affordability, especially in places where incomes haven’t kept pace with construction costs.”
In Ohio, the group estimates the cost for a 2,200-square-foot home would jump from $286,000 to more than $315,000 or a hike of $29,595.
That includes a more than $13 per square foot increase in construction materials.
According to the National Association of Home Builders, the biggest issue is lumber.
The association said in April, suppliers increased their prices by an average of 6.3% in response to tariff announcements and estimated a nearly $11,000 increase per home build.
The group also expects countervailing and antidumping duties to more than double in the fall, raising more concern for price jumps.
A recent poll from National Association of Home Builders and Wells Fargo showed 60% of builders said suppliers have already increased prices or plan to do so because of tariffs.
Hawaii is expected to see the largest price increases with new home construction jumping $102,000, according to the company. In California, the jump is $68,000, while Colorado and Maine are expected to have a $45,000 increase.
