Short answer: a feasibility study’s cost depends mostly on how much research it takes, not on how long the report is. A focused market study for one development project in California often costs in the low five figures. One California firm puts single residential or commercial projects at roughly $6,000 to $15,000. Multi-phase projects, regional facilities and studies that add financial modeling, economic impact or benefit-cost analysis cost more. This guide explains what you pay for, so you can compare quotes fairly.
Feasibility study types and what they cost relative to each other
| Study type | What it answers | Relative cost |
|---|---|---|
| Market study | Is there enough demand, and what is the competition? | Lower. A defined market and one product type. |
| Market and financial feasibility | Will the project pay for itself? Includes revenue, operating cost and financing models. | Moderate. |
| Full feasibility study | Market, technical, financial, regulatory and operational questions together. | Higher. |
| Feasibility with economic or fiscal impact | Also measures jobs, income and public revenue for a lender, agency or council. | Higher. |
| Feasibility with benefit-cost analysis | Needed for many federal infrastructure grants. | Higher, and must follow the funder’s rules. |
What drives the cost
- Research time. This is the main driver. Primary research such as interviews, surveys and site visits costs more than desk research.
- Project size and phasing. A multi-year, multi-product build-out needs more analysis than a single building.
- Market area. A clearly defined area keeps research focused. Regional facilities such as airports, arenas or energy projects draw from wide areas.
- Data availability. Some markets have good public data. Others need records requests and phone calls.
- Who will read it. Lenders, investors, EB-5 reviewers and federal grant programs each expect particular methods and formats.
- Financial modeling depth. A simple pro forma costs less than a model with scenarios, financing structures and sensitivity tests.
PHD ECONOMIST-LED
Need a feasibility study for your project or grant?
GERC prepares benefit-cost, economic and fiscal impact, feasibility and grant work for agencies, developers and the primes that support them, and gives you a fixed quote.
What a quote should include
- A clear scope: the questions the study will answer and the market area.
- The methods: primary research, data sources and models.
- Deliverables: report, financial model, presentation, and how many revision rounds.
- Timeline and milestones.
- Fixed fee or hourly, and what triggers extra charges.
Compare quotes on scope, not just price. A cheap study that a lender or grant reviewer won’t accept costs more in the end.
When a feasibility study pays for itself
A study is cheap compared with the cost of building something the market won’t support. It also helps with financing, investors, city approvals and grant applications. GERC’s feasibility and market research has supported renewable energy, airport and real estate development projects worth billions of dollars. Read more on our feasibility study consultant page.
Ways to keep the cost down
- Bring your data. Site plans, cost estimates, existing studies and any market data you already have.
- Phase the work. Start with a market study, then add financial modeling only if the market supports the project.
- Be clear about the audience so the consultant doesn’t over-build or under-build the report.
- Combine related studies. If you will also need an economic impact analysis or a benefit-cost analysis, scope them together and share the research.
What we would do in your position
- Write down the decision the study must support: go or no-go, financing, a grant application or a council vote.
- Ask for a fixed-fee, phased quote.
- Talk to us. GERC is a PhD economist-led firm. We scope feasibility studies to your decision and give you a fixed quote. Book a consultation.
Feasibility study cost: frequently asked questions
How much does a feasibility study cost?
It depends on scope and research time. A market study for a single residential or commercial project in California can cost roughly $6,000 to $15,000. Full feasibility studies, multi-phase projects and studies that add financial modeling or impact analysis cost more.
What is the biggest factor in feasibility study cost?
Research time. Primary research, a large or poorly documented market area, and complex multi-phase projects all add time and cost. Report length matters much less.
How long does a feasibility study take?
Simple market studies can take a few weeks. Full feasibility studies with primary research and financial models usually take longer. Ask for a timeline with milestones in the quote.
Is a feasibility study the same as a benefit-cost analysis?
No. A feasibility study asks whether a project can succeed. A benefit-cost analysis asks whether its benefits to society exceed its costs. Federal infrastructure grants often need a BCA.
Can grant funds pay for a feasibility study?
Sometimes. Some planning grants fund feasibility work. Check the program’s rules on eligible costs.
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Prefer to talk now? Call (909) 454-7076 or email info@gercconsulting.com.