According to the Federal Emergency Management Agency, the average cost to construct an 8- by 8- by 8-foot safe room with a wood frame and plywood and steel sheathing is $6,300. The actual construction price depends on the size and design of the shelter and the home's foundation type. Retrofitting an existing home with a storm shelter can also increase the costs. The federal government offers funding for the construction of a storm shelter through the Small Business Administration, the U.S. Department of Housing and Urban Development and FEMA.
Learn more about how to get federal assistance to build a storm shelter on the next page.