For those operating private or corporate aircraft, securing adequate aircraft hangar space is an essential requirement, whether owned or leased. With rising construction costs making new hangar development more expensive. Helpful solutions are provided for planning your own near-term hangar purchase or lease.
Average Cost to Buy an Aircraft Hangar in 2024
Building a new freestanding general aircraft hangar averages $60 – $120 per square foot, which equates to approximately $900,000 – $1.8 million to build an average 15,000 square foot hangar. Small box hangars for piston aircraft typically range from $300,000 to $700,000 based on a size of 5,000 – 7,000 square feet. Prices vary based on location, materials, doors, site preparation, permits, specialty systems, and other options.
Factors Influencing Aircraft Hangar Acquisition Cost
Location: Proximity to major cities, popular airports, or areas with high land prices. Costs increase due to higher land prices and demand.
Size and layout: The size and complexity of the hangar design, including height and width. Larger and more complex designs result in higher material and labor costs.
Average cost of renting an aircraft hangar in 2024
Instead of purchasing land and investing a lot of money to build a new facility, renting existing airport hangar space provides an alternative. According to recent data, the typical rent for a 2,000 square foot single aircraft hangar averages about $850-950 per month. Larger spaces, such as 10,000 square feet, rent from $4,000 to $7,000 per month.
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