The average sale price of a home in Manhattan last year was $1.46 million, according to a recent Douglas Elliman report, while the average sale price for a new home in the United States was just under $230,000. The middle class makes up a smaller proportion of the population in New York than elsewhere in the nation.
With major foundation repairs involving hydraulic piers costing $10,000 or more, and minor cracks costing as low as $500, most homeowners will pay around $4,005 to repair foundation issues. Here are a few things that can influence the cost of a foundation repair.
1 The cost depends on the type of piers used, how deep they have to go to reach stable soil and local labor rates. 2  Piers are placed 6-8 feet apart, and can cost $1,000-$3,000 each. 3  Underpinning just one corner of a house can run $3,500-$5,000 and up. Repairing a simple crack in a poured concrete foundation can cost about $400-$800, depending on the extent of the damage. 2  Replacing an entire basement floor can add another $200-$400. 3  And in earthquake-prone areas, reinforcing the foundation with anchor bolts runs $1,500-$3,500 or more.