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How much of the bill is labor?
This Old House says labor usually makes up about 40% of a basement finishing project. HomeGuide puts labor at $6–$20 per square foot, or 20%–40% of the total, and notes that large structural changes bring in more specialists.
| Size | Mid-range total | Labor at 40% | Labor at $6–$20/sq ft |
|---|---|---|---|
| 500 sq ft | $20,000–$37,500 | $8,000–$15,000 | $3,000–$10,000 |
| 800 sq ft | $32,000–$60,000 | $12,800–$24,000 | $4,800–$16,000 |
| 1,000 sq ft | $40,000–$75,000 | $16,000–$30,000 | $6,000–$20,000 |
| 1,200 sq ft | $48,000–$90,000 | $19,200–$36,000 | $7,200–$24,000 |
| 1,500 sq ft | $60,000–$112,500 | $24,000–$45,000 | $9,000–$30,000 |
Trade wages behind the estimate
The state factor uses mean hourly wages from the Bureau of Labor Statistics' Occupational Employment and Wage Statistics, May 2025. These are wages paid to workers, not contractor billing rates, which include overhead and profit. They are used only to compare one state with another.
| Trade (SOC code) | U.S. mean hourly wage |
|---|---|
| Carpenters (47-2031) | $31.55 |
| Electricians (47-2111) | $34.37 |
| Plumbers, pipefitters, steamfitters (47-2152) | $34.70 |
| Drywall and ceiling tile installers (47-2081) | $30.58 |
The highest trade-wage states are Hawaii, Oregon, Washington, Illinois, New Jersey. The lowest are Arkansas, Mississippi, North Carolina, Alabama, Florida.
Getting comparable bids
- Write a one-page scope: rooms, bathroom fixtures, number of egress windows, ceiling type and flooring.
- Ask each contractor to price the permit, the water fix and any electrical panel work as separate lines.
- Ask whether quotes include design, dumpster and final cleaning.
- Compare per-square-foot totals only after removing the bathroom and egress lines, which do not scale with area.
- Check the license, insurance and recent permits of each contractor with your building department.
The usual order of work
| Phase | Who | Notes |
|---|---|---|
| 1. Water and radon | Waterproofer, mitigator | Test radon and fix leaks before anything is covered |
| 2. Permit and plan | Owner, designer | Rooms, egress windows, bathroom location |
| 3. Egress and drains | Excavator, plumber | Cut windows and break slab for drains while the space is open |
| 4. Framing and insulation | Carpenter | Foam on the concrete, treated bottom plates, fire blocking |
| 5. Rough electrical, plumbing, HVAC | Licensed trades | Inspections before walls close |
| 6. Drywall and ceiling | Drywall crew | Leave access panels for valves and cleanouts |
| 7. Flooring, trim, paint, fixtures | Finish trades or owner | Final inspection |
Bathroom and egress costs land early, in phase 3, which is why they surprise people who budget only by the square foot.
Common questions
What percentage of a basement finish is labor?
About 40% according to This Old House; HomeGuide gives 20%–40%.
How much do carpenters make?
The U.S. mean hourly wage for carpenters was $31.55 in May 2025 (BLS OEWS).
Related calculators
Sources
- https://www.thisoldhouse.com/foundations/reviews/cost-to-finish-basement
- https://homeguide.com/costs/cost-to-finish-a-basement
- https://api.bls.gov/publicAPI/v1/timeseries/data/ (OEWS series OEUS…472031, 472111, 472152, 472081, May 2025)
- https://www.bls.gov/oes/tables.htm