GITNUX MARKETDATA REPORT 2024

Statistics About The Average Price To Finish A Basement

The average cost to finish a basement in the United States ranges from $30 to $100 per square foot, with the national average being around $40 to $50 per square foot according to recent statistics.

Last Updated: June 20, 2024

Written & Summarized by: Jannik Lindner

How we write

In this post, we explore the wide range of costs associated with finishing a basement in the United States. From DIY projects to luxurious transformations, we break down the average prices per square foot, total project costs, and return on investment figures to provide a comprehensive overview of what to expect when undertaking a basement remodeling project.

Statistic 1

"The average cost to finish a basement is approximately $18,960."

Statistic 2

"Nationally, basement remodeling costs average $52,275-$74,834."

Statistic 3

"The square footage cost can be between $30 and $75 when working on basement finishing."

Statistic 4

"Costs can get as high as $90 per square foot for complex designs."

Statistic 5

"DIY basement finishing can cost as low as $5,000."

Statistic 6

"The average price to finish a small basement (400-700 square feet) is about $15,000."

Statistic 7

"Finishing a large basement (1,400+ square feet) could cost as much as $30,000 or more."

Statistic 8

"A basic unfinished basement to finished transformation typically ranges from $32-$47 per square foot."

Statistic 9

"The cost return on investment (ROI) for a finished basement is about 70%."

Statistic 10

"Creating a luxurious basement could cost upwards of $55-$75 per square foot."

Statistic 11

"On average, basement remodeling costs around $20,800 for a simple finish of a 12x20 foot room with electrical wiring, drywall, and carpeting."

Statistic 12

"On average, basement remodeling projects have a return on investment of 70 to 75 percent, meaning that you'll typically be able to recover most of the cost when selling your home."

Statistic 13

"The cost to finish a basement and turn it into a livable space ranges from $6,500 to $18,500 on average."

Statistic 14

"The materials for an average basement remodeling project typically cost between $3,000 to $5,000."

Statistic 15

"Drywall costs for basement remodels range from approximately $1,000 to $3,000."

Statistic 16

"The average cost per square foot to finish a basement is $25–$50."

Statistic 17

"The cost of finishing a basement bedroom averages between $50-$75 per square foot."

In conclusion, the cost to finish a basement can vary significantly based on factors such as square footage, complexity of design, DIY versus professional labor, and desired level of luxury. The average cost falls around $18,960, with square footage costs ranging from $30 to $90. DIY projects can be as low as $5,000, while transforming a large basement can exceed $30,000. The return on investment for a finished basement is typically around 70%, making it a worthwhile investment for homeowners. Overall, the price range for finishing a basement is broad, accommodating various budgets and preferences.

Jannik Lindner

Jannik is the Co-Founder of Gitnux and has been working in the digital space since 2016. He is specialized in content and tech.

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