This study shows how much Whatcom is investing in affordable housing

A new study is using the average construction costs of new housing units authorized in the U.S. to see which areas are investing more in affordable housing.

The average construction costs of new housing units authorized in the Bellingham metropolitan area in 2022 closely mirror the national average, according to Construction Coverage, a company that provides reviews and research on the construction, auto and real estate industries.

The average construction cost per new housing unit authorized in Whatcom County last year was $221,060.

Nationally, that amount was about $5,000 more at $226,657.

The U.S., however, has seen a reduction in that spending over the last few months, according to the U.S. Census Bureau and the U.S. Bureau of Labor Statistics.

The analysis by Construction Coverage noted that construction spending rose during the pandemic as the demand for single-family homes surged and homebuilders prioritized building them over multi-family units.

Areas focusing more on multi-family housing saw lower average construction costs because the price per housing unit is less, according to the study.

The 1,620 new housing units authorized for construction in 2022 in Whatcom County boost the total construction value of new housing units authorized last year to $358,117,000.

The median home price in Whatcom County last year was $632,170.

The median home price nationally was much lower at $357,319.

Washington saw the 15th lowest average construction cost per new housing unit authorized in 2022, among states in the U.S.

Delaware had the lowest average construction cost, with an average value of $142,259. Hawaii had the highest average construction cost, with an average of $413,133.

Compare Whatcom County’s average construction cost per new housing unit authorized in 2022 to other areas in Washington:

▪ Kennewick-Richland: $273,352.

▪ Bremerton-Silverdale-Port Orchard: $267,909.

▪ Wenatchee: $239,780.

▪ Vancouver: $228,052.

▪ Seattle-Tacoma-Bellevue: $214,298.

▪ Longview: $208,711.

▪ Spokane-Spokane Valley: $198,055.

▪ Yakima: $196,301.

▪ Mount Vernon-Anacortes: $195,199.

▪ Olympia-Lacey-Tumwater: $187,624.

The data used in this analysis is from the U.S. Census Bureau and Zillow.