Data center spending totaled $22.3 billion in June 2026, the second-highest monthly total on record. Only January 2026's $25.5 billion stands higher.
Year-to-date spending through June now stands at $81.5 billion, already surpassing 2025's full-year total of $72.5 billion and running more than three times the 2024 full-year total.
The cost of building data centers continues to advance. Over the last 5-years, median and average data center construction costs have risen by 17% and 22% on a compounded annual basis.
This exclusive data center report was prepared by ConstructConnect Chief Economist, Michael Guckes, and Associate Economist, Devin Bell.
Data center spending totaled $22.3 billion in June 2026, the second-highest monthly total on record. Only January 2026's $25.5 billion stands higher.
Year-to-date spending through June now stands at $81.5 billion, already surpassing 2025's full-year total of $72.5 billion and running more than three times the 2024 full-year total.
Twenty-three projects broke ground in June, lifting the year-to-date start count to 116. These projects are also getting larger, as the average data center has more than doubled in size since 2022, reaching nearly 700,000 square feet in the second quarter of 2026. That growth may reflect firms seeking economies of scale to reduce their cost per unit of compute.
Data center spending totaled $22.3 billion in June 2026, the second-highest monthly total on record. Only January 2026's $25.5 billion stands higher. Year-to-date spending through June now stands at $81.5 billion, already surpassing 2025's full-year total of $72.5 billion and running more than three times the 2024 full-year total. Image and Data: ConstructConnect
Among data center projects larger than 2,000 square feet, with the top and bottom 10% trimmed, the year-to-date 2026 median construction cost stands at $570 per square foot and the average at $859. The spread reflects several high-cost projects, with many reporting costs well above $1,000 per square foot even after the trim.
Compared to the 2025 median and average costs of $415 and $514 respectively, construction costs are up a dramatic 38% and 67% respectively. Looking back over the last 5-years, median and average data center construction costs have risen by 17% and 22% on a compounded annual basis.
Data center project starts remain concentrated in a handful of states. Year to date, North Carolina, Indiana, Illinois, and Michigan have each recorded more than $10 billion in new starts. Virginia and Texas remain close behind.
As developers seek sites with ample power and water resources, construction activity is moving toward the South and Midwest, regions that also align with the nation's natural gas pipeline infrastructure.
Near-term planned spending is geographically consistent with the broader shift toward regions with available power and water resources. Texas, North Carolina, Virginia, Arkansas, and Utah lead the pipeline. Southern states, including Georgia and Oklahoma, and Midwest states, including Ohio, Indiana, and Illinois, account for much of the remaining activity.
Planned US Data Center construction starts value by US Census Region is shown on a map from July to December 2026. These projects are still in the preconstruction phase and are not guaranteed to break ground. Image and Data: ConstructConnect
ConstructConnect Project Intelligence is tracking 85 data center projects in late-stage preconstruction with scheduled start dates before year-end. Those projects represent a combined $78.2 billion in planned value, suggesting spending could continue to build on already record levels.
It is worth noting that not all of these projects will reach groundbreaking, and the figure excludes Project Kestrel, a $100 billion planned development that ConstructConnect is tracking separately given its exceptional scale.
Data centers require large amounts of power to operate continuously, a demand that is already showing up in Power Infrastructure construction. Starts in the category are up 4% year to date compared to last year's record levels.
Power access is increasingly shaping where data centers can be built, and that constraint could continue to lift Power Infrastructure starts in the near future.
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