Cost per sq for SFH & MFH - 2025 estimates?

[Maya Cohen]

I've been searching for up-to-date estimates of the cost per sq ft for new construction of SFH & MFH in Philadelphia in 2025.

For a land cost of $150k, how would you think about how much the completed home would need to sell for to make that land cost worth it?

Would love to hear from folks with knowledge of the current market! The construction project in question would be in West Philly, if that's helpful. Thanks in advance for your insight! 
 

[Robert Ellis]

Quote from @Maya Cohen:

I've been searching for up-to-date estimates of the cost per sq ft for new construction of SFH & MFH in Philadelphia in 2025.

For a land cost of $150k, how would you think about how much the completed home would need to sell for to make that land cost worth it?

Would love to hear from folks with knowledge of the current market! The construction project in question would be in West Philly, if that's helpful. Thanks in advance for your insight! 
 

 we underwrite 10% land cost to finished build value. I think you can go as high as 15% but it's cutting into your margins and depends if you are a GC yourself or not. 150k is close to a million or more. I'd be looking at multiple structures. we try to build below the average new build cost in our market in Columbus Ohio which is 515,000 last year and we target land 40-50k and urban core adjacent where we get higher price per square foot. we build for clients with margin around $190 a sq ft depending on multi or single. we can get that down in our triplex it's a little higher on our single family homes because of garages and limited economies of scale. hope that helps. idk Philly but if you show me the area and styles of homes I can give you some more insights.