The Skilled Trades Wage Atlas 2026

The Skilled Trades Wage Atlas 2026: Technician Labor Costs by State for Buyers and Owners

Quick answer: State choice moves technician pay by a factor of two, with the median electrician earning $48.71 per hour in Oregon against $23.59 in Arkansas, a 2.06x spread (May 2025 OEWS). Roofing is the year’s scarcity flag, printing an 8.7% national median wage jump against a 0.9% employment decline (May 2024 to May 2025 OEWS). For an acquirer, two points of unrecovered wage inflation on a $1M-EBITDA HVAC platform translates to roughly $420,000 to $560,000 of enterprise value at a 6x to 8x multiple (illustrative worked example below).

The Skilled Trades Wage Atlas 2026: Technician Labor Costs by State
The Skilled Trades Wage Atlas 2026: Technician Labor Costs by State (CT Acquisitions, July 2026)

Technician payroll is the single largest cost line in almost every trades business that changes hands, and it is the line that moves fastest between the letter of intent and the second year of ownership. This skilled trades wage atlas converts the Bureau of Labor Statistics May 2025 Occupational Employment and Wage Statistics release into a working map of technician labor costs by state, built for acquirers and owners of HVAC, plumbing, electrical, roofing, landscaping, and pest control businesses, with automotive repair and machining included for buyers working the industrial and automotive clusters.

Executive Summary

The headline findings from the May 2025 OEWS data, compared against the May 2024 and May 2020 releases:

  • The median US electrician earned $30.38 per hour (May 2025 OEWS). The median plumber earned $30.67 per hour in the same release (May 2025 OEWS). The median HVAC technician earned $29.33 per hour (May 2025 OEWS). All three licensed trades now pay above the $24.51 all-occupation national median hourly wage (May 2025 OEWS).
  • State choice changes technician cost by a factor of two. Electrician medians run from $23.59 per hour in Arkansas to $48.71 in Oregon, a 2.06x spread (May 2025 OEWS). Plumber medians run from $23.39 in Arkansas to $48.57 in the District of Columbia, a 2.08x spread (May 2025 OEWS). HVAC medians run from $23.13 in Arkansas to $40.57 in DC, a 1.75x spread (May 2025 OEWS).
  • Wage inflation is uneven and locally violent. Of the 304 state and trade combinations across the six core trades with year-over-year data, 145 posted median wage growth above the 3.0% all-occupation national pace (May 2024 to May 2025 OEWS). Some 88 of those 304 combinations grew faster than 5% in a single year (May 2024 to May 2025 OEWS). Another 63 combinations posted declines (May 2024 to May 2025 OEWS); OEWS is a survey with sampling noise, not a payroll census.
  • Roofing is the year’s outlier. The national median roofer wage jumped 8.7% in one year, from $24.51 to $26.65 per hour (May 2024 to May 2025 OEWS). Roofer employment fell 0.9% over the same period, to 135,490 (May 2025 OEWS). Fewer roofers earning meaningfully more is exactly the scarcity signature a buyer should underwrite.
  • Two state medians crossed six figures. Oregon electricians reached a $101,310 median annual wage (May 2025 OEWS). DC plumbers and pipefitters reached $101,020 (May 2025 OEWS).

For a buyer, these are not trivia. A two point gap between assumed and actual wage growth on a 35% labor cost base is worth roughly $420,000 to $560,000 of enterprise value on a $1M-EBITDA HVAC platform at a 6x to 8x multiple (illustrative math, worked in full below). The atlas below gives you the tables to price that risk before you sign.

Three Numbers to Quote

  • 2.06x: the spread between the median electrician wage in Oregon ($48.71 per hour) and Arkansas ($23.59 per hour), the widest top-to-bottom state gap among the licensed trades alongside plumbing’s 2.08x (May 2025 OEWS).
  • +8.7% on -0.9%: the one-year change in the national median roofer wage set against the one-year change in roofer employment, the sharpest scarcity signature of any core trade (May 2024 to May 2025 OEWS).
  • 88 of 304: the number of state-and-trade combinations across the six core trades whose median wage grew faster than 5% in a single year (May 2024 to May 2025 OEWS).

Why Technician Wages Are a Diligence Line, Not a Footnote

Most quality of earnings work on a trades business treats labor as a historical percentage of revenue. That works in a flat wage environment and fails in the current one. Between May 2020 and May 2025, the average state posted an HVAC median wage compound annual growth rate of 3.9% (OEWS, May 2020 and May 2025 releases). The same five-year calculation averages 4.5% for roofers across states (OEWS, May 2020 and May 2025 releases). Underwriting labor at last year’s percentage of revenue silently assumes the seller’s pricing captured all of that, every year, in every market.

Three specific diligence questions come straight out of the wage data:

  1. Is the target paying at, above, or below the local market median? A shop paying its HVAC technicians $24 per hour in a country where the national median sits at $29.33 is carrying deferred wage expense, not a cost advantage (May 2025 OEWS). The catch-up hits the buyer’s P&L, not the seller’s.
  2. How fast is the local market repricing? Florida HVAC medians rose 12.0% in a single year (May 2024 to May 2025 OEWS). New Hampshire HVAC medians rose 14.7% over the same window (May 2024 to May 2025 OEWS). A trailing-twelve-months EBITDA number from any of these states is already stale on labor.
  3. How scarce are technicians where the target operates? OEWS location quotients show where a trade is thin relative to the local economy. Electricians are 2.16x overrepresented in Wyoming (May 2025 OEWS). The same trade is underrepresented at 0.65x in New Jersey (May 2025 OEWS). Scarcity shows up first in overtime and recruiting spend, then in wages, then in lost revenue from unfilled trucks.

Technician retention and tenure are named multiple drivers in our valuation work on these verticals. The HVAC M&A Multiples Report 2026, the Plumbing M&A Multiples Report 2026, and the Electrical Contractor M&A Multiples Report 2026 each treat a stable, tenured technician bench as a premium factor and technician churn as a discount factor. This atlas supplies the market-level wage context behind those adjustments.

Methodology: What OEWS Is and How We Used It

Source. All wage and employment figures in this report are computed from the Bureau of Labor Statistics Occupational Employment and Wage Statistics program, using the downloadable state, metropolitan, and national files published at bls.gov/oes/tables.htm. The primary vintage is the May 2025 release, the latest available. Year-over-year comparisons use the May 2024 release. Five-year growth rates use the May 2020 release.

What OEWS measures. OEWS estimates are built from a semiannual establishment survey covering roughly 1.1 million business locations over a rolling three-year collection cycle, as described in the BLS OEWS frequently asked questions. Reported wages are straight-time gross pay, including production bonuses and commissions, and excluding overtime premiums, benefits, and employer payroll taxes. For diligence purposes that means OEWS understates fully loaded technician cost, and buyers should apply their own burden factor when converting any posted median into cost per technician hour.

Occupations tracked. Eight Standard Occupational Classification (SOC) codes anchor the atlas, with one supplemental code:

SOCOccupationBLS profile
49-9021Heating, air conditioning, and refrigeration mechanics and installersbls.gov/oes/current/oes499021.htm
47-2152Plumbers, pipefitters, and steamfittersbls.gov/oes/current/oes472152.htm
47-2111Electriciansbls.gov/oes/current/oes472111.htm
47-2181Roofersbls.gov/oes/current/oes472181.htm
37-3011Landscaping and groundskeeping workersbls.gov/oes/current/oes373011.htm
37-2021Pest control workersbls.gov/oes/current/oes372021.htm
49-3023Automotive service technicians and mechanicsbls.gov/oes/current/oes493023.htm
51-4041Machinistsbls.gov/oes/current/oes514041.htm
49-9071Maintenance and repair workers, general (supplemental)bls.gov/oes/current/oes499071.htm

Statistics computed. For each of the 51 jurisdictions (50 states plus DC) and each occupation we extracted employment, median and mean hourly wages, median and mean annual wages, jobs per 1,000, and location quotient from the May 2025 state file. Year-over-year change compares May 2024 to May 2025 median hourly wages (OEWS). The five-year figure is the CAGR of the median hourly wage from May 2020 to May 2025 (OEWS). Metro rankings use the May 2025 metropolitan area file, restricted to metros reporting at least 300 employed in the occupation to suppress small-sample noise, and excluding Puerto Rico.

Caveats, stated plainly. BLS itself cautions that OEWS is designed for cross-sectional comparison, not as a time series, because panel rotation and methodology updates add noise to year-over-year changes. We publish YoY and CAGR figures as directional diligence signals, not as precise escalators. One cell in the 51 by 9 grid is suppressed in the May 2025 state file (DC pest control workers). A handful of small-state cells swing implausibly in one year, such as Texas pest control medians printing 13.4% lower than the prior release (May 2024 to May 2025 OEWS), and we flag rather than interpret those. Every number in this report traces to a BLS file; nothing is modeled except where explicitly labeled illustrative.

The National Baseline: Eight Trades at a Glance

Before the state tables, the national frame (May 2025 OEWS, with change versus May 2024 OEWS):

National wage and employment baseline, May 2025 OEWS vs May 2024 OEWS

Occupation (SOC)Employment, May 2025Median Hourly, May 2025Median Annual, May 2025Median Wage YoYEmployment YoY
HVAC mechanics and installers (49-9021)409,670$29.33$61,010+2.0%+3.2%
Plumbers, pipefitters, steamfitters (47-2152)465,840$30.67$63,800+1.3%+2.2%
Electricians (47-2111)757,220$30.38$63,190+1.3%+2.0%
Roofers (47-2181)135,490$26.65$55,440+8.7%-0.9%
Landscaping and groundskeeping (37-3011)952,640$18.82$39,150+2.8%+1.0%
Pest control workers (37-2021)102,620$21.75$45,250+1.1%+6.8%
Automotive service technicians (49-3023)704,640$24.34$50,620+1.9%+2.3%
Machinists (51-4041)287,050$28.24$58,750+4.6%-3.9%
Maintenance and repair, general (49-9071)1,529,700$23.84$49,590+2.0%-0.1%
All occupations (00-0000)155,495,730$24.51$50,980+3.0%+0.8%

Three patterns matter for buyers. First, the six core home services trades employ 2,823,480 people nationally (May 2025 OEWS). The full eight-trade set employs 3,815,170 (May 2025 OEWS). Second, HVAC employment grew 3.2% year over year, the fastest of the three licensed mechanical trades (May 2024 to May 2025 OEWS). Third, two trades printed wage spikes against shrinking headcount. Roofing paired +8.7% wages with -0.9% employment (May 2024 to May 2025 OEWS). Machining paired +4.6% wages with -3.9% employment (May 2024 to May 2025 OEWS). Those are the two trades where labor scarcity is most likely to surprise an acquirer mid-hold.

The State Atlas: HVAC Technicians (SOC 49-9021)

HVAC remains the most consolidated-into trade in American home services, and its wage map is where most buyers should start. The national median HVAC wage of $29.33 per hour masks a state range from $23.13 in Arkansas to $40.57 in the District of Columbia (May 2025 OEWS).

HVAC Technicians (SOC 49-9021), all states, May 2025 OEWS

StateMedian HourlyMedian AnnualYoY Change5-Yr CAGREmploymentLocation Quotient
Alabama$23.26$48,370-1.9%+2.5%8,2601.48
Alaska$37.23$77,430-7.4%-0.3%6100.72
Arizona$28.56$59,400+5.0%+5.0%10,8601.27
Arkansas$23.13$48,110+1.9%+3.2%4,9601.44
California$34.88$72,560+11.1%+3.9%35,1300.73
Colorado$31.35$65,200+2.8%+3.8%8,9401.18
Connecticut$36.83$76,610+3.7%+4.1%3,8000.85
Delaware$29.96$62,320+4.0%+3.8%1,7301.35
District of Columbia$40.57$84,390+1.2%+3.1%4000.21
Florida$27.24$56,670+12.0%+5.2%39,1601.50
Georgia$27.11$56,390+2.5%+4.5%12,2900.95
Hawaii$31.47$65,450+2.6%+0.7%1,3000.79
Idaho$27.04$56,240+6.7%+5.5%4,5502.02
Illinois$37.21$77,410+8.0%+6.6%9,7400.61
Indiana$29.05$60,430+0.2%+2.9%8,5301.01
Iowa$29.17$60,680+2.0%+2.7%3,8400.93
Kansas$29.07$60,460+6.5%+2.9%3,7700.99
Kentucky$28.18$58,620-0.5%+6.3%5,1000.97
Louisiana$28.20$58,650+9.6%+4.5%5,3801.05
Maine$30.37$63,170+1.7%+5.2%2,2501.33
Maryland$33.67$70,020+7.7%+2.4%8,5601.18
Massachusetts$37.16$77,300+0.4%+3.9%8,2000.86
Michigan$29.26$60,850+1.3%+4.0%12,5901.09
Minnesota$36.71$76,350+4.0%+5.2%4,2000.54
Mississippi$23.41$48,680+3.0%+3.0%2,7000.88
Missouri$28.82$59,950-0.6%+5.8%7,2200.93
Montana$29.26$60,850+3.9%+5.7%1,2300.91
Nebraska$28.77$59,850+0.2%+2.9%3,0201.12
Nevada$29.09$60,510+2.1%+1.8%4,1701.02
New Hampshire$35.51$73,850+14.7%+5.6%2,5601.42
New Jersey$35.79$74,450+6.6%+3.5%10,3300.92
New Mexico$24.17$50,270-8.6%+3.1%1,9500.85
New York$35.78$74,430+11.6%+4.7%24,4300.96
North Carolina$27.53$57,260+10.2%+4.6%15,2301.17
North Dakota$35.81$74,490+11.6%+7.4%9700.85
Ohio$30.06$62,510+3.4%+5.0%14,1500.97
Oklahoma$27.67$57,560+13.0%+5.3%5,6501.25
Oregon$30.26$62,940+0.3%+3.8%3,9800.77
Pennsylvania$30.00$62,400+2.1%+3.5%15,8800.99
Rhode Island$32.39$67,370+6.0%+1.9%1,4501.10
South Carolina$27.22$56,610+2.5%+4.1%6,9201.14
South Dakota$29.51$61,390+3.2%+4.6%1,6101.34
Tennessee$26.68$55,490+7.8%+6.2%9,7401.13
Texas$27.77$57,760+6.8%+3.8%34,7300.94
Utah$28.24$58,730+4.5%+3.3%5,5801.22
Vermont$29.88$62,150+3.3%+2.5%9701.22
Virginia$28.72$59,730-1.5%+3.0%14,6901.36
Washington$36.38$75,660+11.9%+4.6%7,3700.79
West Virginia$23.49$48,850+6.2%+3.7%1,6900.91
Wisconsin$29.67$61,710-0.5%+3.0%6,6300.86
Wyoming$26.30$54,700+7.4%+1.5%6900.93

What the HVAC table says to a buyer:

The high-cost tier is the Northeast, the West Coast, Alaska, and union-heavy Illinois. DC leads at a $40.57 median hourly wage (May 2025 OEWS). Alaska follows at $37.23 (May 2025 OEWS). Illinois prints $37.21 (May 2025 OEWS). Massachusetts prints $37.16 (May 2025 OEWS). Connecticut prints $36.83 (May 2025 OEWS). A platform buying add-ons in these states should assume technician cost roughly 25% to 40% above the national median as the market rate (May 2025 OEWS).

The low-cost tier is the South Central and Appalachian belt. Arkansas prints a $23.13 median (May 2025 OEWS). Alabama prints $23.26 (May 2025 OEWS). Mississippi prints $23.41 (May 2025 OEWS). West Virginia prints $23.49 (May 2025 OEWS). These are the wage-arbitrage states on paper. The caveat is growth: several cheap states are repricing quickly, and Alabama HVAC employment carries a 1.48 location quotient, meaning the local economy is already unusually dependent on the trade (May 2025 OEWS).

The big consolidation states sit mid-table but are repricing fast. Florida HVAC medians rose 12.0% in one year (May 2024 to May 2025 OEWS). That move took the Florida median to $27.24 per hour (May 2025 OEWS). Texas sits at $27.77 after a 6.8% year (May 2024 to May 2025 OEWS). North Carolina reached $27.53 on a 10.2% jump (May 2024 to May 2025 OEWS). California reached $34.88 on an 11.1% jump (May 2024 to May 2025 OEWS). New York reached $35.78 on an 11.6% jump (May 2024 to May 2025 OEWS). If your model escalates Florida or California technician wages at 3% to 4%, the last printed year ran at roughly triple that pace (May 2024 to May 2025 OEWS).

Scarcity reads through the location quotient column. Idaho has the highest HVAC concentration at a 2.02 location quotient (May 2025 OEWS). Florida follows at 1.50 (May 2025 OEWS). Florida also holds the largest state HVAC workforce at 39,160 jobs, ahead of California and Texas (May 2025 OEWS). At the other end, DC (0.21), Minnesota (0.54), and Illinois (0.61) have thin HVAC benches relative to their economies, which helps explain the Illinois wage premium (May 2025 OEWS location quotients).

For how technician bench quality converts into a purchase multiple in this trade, see the HVAC M&A Multiples Report 2026.

The State Atlas: Plumbers, Pipefitters, and Steamfitters (SOC 47-2152)

Plumbing pays the highest national median of the three mechanical trades at $30.67 per hour (May 2025 OEWS). It also has the widest state spread of the licensed trades at 2.08x (May 2025 OEWS).

Plumbers, Pipefitters, and Steamfitters (SOC 47-2152), all states, May 2025 OEWS

StateMedian HourlyMedian AnnualYoY Change5-Yr CAGREmploymentLocation Quotient
Alabama$28.21$58,670+9.0%+4.9%6,9501.10
Alaska$45.15$93,920+13.0%+1.3%1,2001.23
Arizona$29.84$62,070+0.2%+4.5%11,8101.22
Arkansas$23.39$48,660-2.1%+3.0%3,3700.86
California$35.01$72,830+6.5%+3.4%47,6600.87
Colorado$30.40$63,240-0.6%+3.4%10,0801.17
Connecticut$37.16$77,280+5.8%+3.0%5,4101.07
Delaware$31.11$64,720+0.6%+1.7%1,5901.10
District of Columbia$48.57$101,020+23.3%+6.6%1,0100.48
Florida$25.44$52,910+4.7%+4.0%29,2600.98
Georgia$27.50$57,200+1.6%+1.4%8,9300.61
Hawaii$37.53$78,060-0.6%+3.5%2,5001.33
Idaho$25.18$52,380-8.7%+1.1%3,0901.20
Illinois$48.05$99,950+3.9%+1.4%16,7500.92
Indiana$36.69$76,320+18.2%+6.3%11,2801.18
Iowa$30.72$63,890+4.3%+3.8%5,7301.23
Kansas$31.36$65,220+3.8%+3.4%4,5901.06
Kentucky$30.84$64,160+2.9%+2.0%6,3601.06
Louisiana$30.62$63,680-1.6%+2.1%8,3601.44
Maine$30.77$64,000+3.4%+3.2%2,7101.41
Maryland$31.44$65,400+3.4%+2.6%11,4201.38
Massachusetts$45.14$93,880+12.8%+4.4%13,4601.24
Michigan$38.56$80,190+4.1%+3.4%14,1201.07
Minnesota$45.39$94,410+13.4%+3.7%10,7201.21
Mississippi$26.67$55,480-4.3%+2.8%3,3600.96
Missouri$32.11$66,790+7.6%+1.6%8,3100.95
Montana$38.44$79,960+2.6%+7.0%1,8601.22
Nebraska$29.31$60,970-3.0%-0.8%4,1101.34
Nevada$29.62$61,610+2.5%+2.1%5,3701.15
New Hampshire$32.12$66,810+7.7%+4.8%1,9500.95
New Jersey$37.61$78,240+1.4%+2.7%8,7500.68
New Mexico$29.54$61,440+3.0%+7.0%2,8301.09
New York$37.26$77,490-1.2%+3.5%23,2100.80
North Carolina$27.44$57,080+11.9%+5.2%14,5100.98
North Dakota$30.56$63,560+1.4%+3.1%1,6201.26
Ohio$30.45$63,330+1.3%+1.6%16,3900.99
Oklahoma$27.87$57,970+5.7%+2.2%6,0501.18
Oregon$46.66$97,050+4.2%+5.2%5,3700.91
Pennsylvania$32.73$68,080+2.1%+3.9%13,6200.75
Rhode Island$36.77$76,470+18.4%+6.1%1,8201.21
South Carolina$25.93$53,940-1.7%+3.5%5,7700.84
South Dakota$24.82$51,620+1.6%+3.8%1,7601.28
Tennessee$28.17$58,600+1.5%+4.7%9,2700.94
Texas$28.77$59,840+2.2%+3.5%44,0901.05
Utah$29.76$61,900+0.4%+2.6%7,0301.35
Vermont$29.89$62,170+2.7%+2.9%9801.08
Virginia$29.07$60,470+1.5%+2.9%13,7801.12
Washington$38.96$81,030+2.5%+2.6%12,4701.17
West Virginia$27.39$56,980+14.8%+3.2%1,8300.87
Wisconsin$39.04$81,210+3.4%+4.4%10,2101.16
Wyoming$30.01$62,410+1.5%+1.9%1,1401.35

What the plumbing table says to a buyer:

Six-figure plumber markets now exist. DC’s median plumber earns $101,020 annually, the first six-figure line in this trade’s state table (May 2025 OEWS). That print followed a 23.3% single-year move that should be read with survey-noise caution (May 2024 to May 2025 OEWS). Illinois sits at $99,950 median annual (May 2025 OEWS). Oregon sits at $97,050 (May 2025 OEWS). Minnesota reached $94,410 (May 2025 OEWS). Acquirers of commercial and mechanical plumbing businesses in the upper Midwest and Pacific Northwest are underwriting labor at close to double Sun Belt rates.

The cheap-plumber states cluster in the Southeast and Mountain West. Arkansas prints $23.39 (May 2025 OEWS). South Dakota prints $24.82 (May 2025 OEWS). Idaho prints $25.18 (May 2025 OEWS). Florida prints $25.44 (May 2025 OEWS). South Carolina prints $25.93 (May 2025 OEWS). Florida is the notable entry: it still pays plumbers a bottom-five median wage while hosting one of the busiest homebuilding markets in the country, a major reason plumbing consolidation there remains active.

Momentum is strongest in the Midwest and mid-Atlantic. Rhode Island plumber medians rose 18.4% in one year (May 2024 to May 2025 OEWS). Indiana rose 18.2% to reach $36.69 (May 2024 to May 2025 OEWS). West Virginia rose 14.8% (May 2024 to May 2025 OEWS). North Carolina rose 11.9% to reach $27.44 (May 2024 to May 2025 OEWS). Five-year compounding tells the same story from a longer lens: Montana plumber medians compounded at 7.0% annually from May 2020 to May 2025 (OEWS).

Scarcity is a coastal-metro problem. Louisiana (1.44), Maine (1.41), and Maryland (1.38) hold the deepest plumber benches relative to their economies (May 2025 OEWS location quotients). Among major states, Georgia (0.61), New Jersey (0.68), and New York (0.80) have the thinnest benches (May 2025 OEWS location quotients). A Georgia plumbing platform with an aging technician roster is fighting demographic scarcity and a thin bench at the same time; that is precisely the situation where tenure data moves a multiple, as detailed in the Plumbing M&A Multiples Report 2026.

The State Atlas: Electricians (SOC 47-2111)

Electricians are the largest of the three licensed trades at 757,220 jobs nationally (May 2025 OEWS). They are also the trade with the most explicit exposure to data center, EV, and grid capex demand.

Electricians (SOC 47-2111), all states, May 2025 OEWS

StateMedian HourlyMedian AnnualYoY Change5-Yr CAGREmploymentLocation Quotient
Alabama$26.78$55,690+6.3%+3.6%10,9001.06
Alaska$43.00$89,440+9.2%+2.8%1,8701.18
Arizona$29.36$61,060+2.7%+4.6%21,1401.34
Arkansas$23.59$49,070-0.7%+2.9%7,5001.18
California$36.62$76,160-0.5%+2.1%73,3100.83
Colorado$29.92$62,230+0.2%+2.6%17,0101.22
Connecticut$37.28$77,540+1.0%+4.2%7,7100.93
Delaware$30.63$63,700+1.2%+2.8%2,2600.96
District of Columbia$37.97$78,970-3.6%-1.3%2,4400.71
Florida$27.52$57,250+7.8%+5.3%49,7001.03
Georgia$28.04$58,320-0.9%+1.3%21,6500.91
Hawaii$46.38$96,460+15.9%+4.7%3,0701.01
Idaho$30.29$63,000+3.8%+4.1%5,6901.36
Illinois$47.87$99,560+3.3%+3.5%23,1200.78
Indiana$32.93$68,490+4.6%+3.4%19,0201.22
Iowa$29.26$60,860-3.2%+1.7%10,3101.36
Kansas$31.66$65,860+6.5%+4.1%6,3500.91
Kentucky$28.71$59,720+0.4%+3.2%11,0301.13
Louisiana$29.59$61,540+3.3%+3.3%10,5501.12
Maine$36.24$75,380+11.1%+6.1%3,7801.21
Maryland$35.33$73,490+11.9%+5.1%13,6901.02
Massachusetts$38.18$79,420-3.3%+2.8%17,8101.01
Michigan$36.67$76,270+5.0%+4.3%23,5301.10
Minnesota$37.58$78,160-4.0%+2.8%14,3501.00
Mississippi$29.26$60,860+6.2%+3.7%6,6101.17
Missouri$31.45$65,410-7.8%+0.8%12,7800.89
Montana$36.90$76,760+11.3%+4.9%2,7501.10
Nebraska$29.24$60,820+1.3%+3.3%6,4401.29
Nevada$35.37$73,570+13.3%+3.0%8,3501.11
New Hampshire$30.21$62,840+1.4%+2.6%3,3301.00
New Jersey$37.14$77,250+5.7%+2.5%13,5200.65
New Mexico$28.07$58,390+2.6%+3.1%5,0201.18
New York$37.86$78,750+1.7%+2.1%40,1300.85
North Carolina$27.31$56,800+5.0%+4.5%21,6400.90
North Dakota$31.59$65,710-0.2%-0.1%3,5701.71
Ohio$31.11$64,700+1.8%+3.9%28,9501.07
Oklahoma$29.33$61,010+1.6%+4.7%8,5001.02
Oregon$48.71$101,310+4.1%+5.2%10,5901.11
Pennsylvania$32.50$67,600+3.4%+1.3%22,7300.77
Rhode Island$35.62$74,090+5.6%+5.3%2,4200.99
South Carolina$28.24$58,740+0.8%+4.6%8,0100.71
South Dakota$29.51$61,390+4.8%+5.5%2,9801.34
Tennessee$29.37$61,090+3.2%+3.3%17,0701.07
Texas$28.16$58,570+2.9%+3.2%76,7701.12
Utah$29.81$62,000+0.9%+4.8%11,4501.36
Vermont$30.49$63,430+6.3%+5.0%1,2700.86
Virginia$30.24$62,900+2.1%+3.1%23,6301.18
Washington$45.78$95,220-1.4%+5.4%19,3801.12
West Virginia$31.16$64,810+1.5%+3.5%4,2901.25
Wisconsin$36.80$76,540+1.9%+3.6%14,3101.00
Wyoming$36.59$76,120+3.6%+4.7%2,9602.16

What the electrician table says to a buyer:

The Pacific Northwest is the most expensive electrician labor market in America. Oregon’s median electrician earns $48.71 per hour, the highest state median in any of the six core trades (May 2025 OEWS). That hourly rate annualizes to $101,310 (May 2025 OEWS). Washington prints $45.78 (May 2025 OEWS). Hawaii reached $46.38 (May 2025 OEWS). Hawaii’s print came on a 15.9% single-year jump (May 2024 to May 2025 OEWS). Illinois, at $47.87, is the only non-Western state in the top tier (May 2025 OEWS).

The bottom of the table is the Southeast plus Arkansas. Arkansas prints a $23.59 median (May 2025 OEWS). Alabama prints $26.78 (May 2025 OEWS). North Carolina prints $27.31 (May 2025 OEWS). Florida prints $27.52 (May 2025 OEWS). Georgia prints $28.04 (May 2025 OEWS). Note the growth column, though: Florida electrician medians rose 7.8% in the latest year (May 2024 to May 2025 OEWS). The same Florida series compounded at 5.3% over five years, so the arbitrage is real but shrinking (May 2020 to May 2025 OEWS).

One-year movers are broad-based. Nevada electrician medians rose 13.3% to reach $35.37 (May 2024 to May 2025 OEWS). Maryland rose 11.9% to reach $35.33 (May 2024 to May 2025 OEWS). Maine rose 11.1% in the latest year (May 2024 to May 2025 OEWS). Maine also leads the five-year table at a 6.1% CAGR (May 2020 to May 2025 OEWS).

Scarcity math favors sellers in the industrial states. Wyoming has 10.54 electricians per 1,000 jobs, a 2.16 location quotient that reflects mining and energy demand (May 2025 OEWS). North Dakota follows at 1.71 (May 2025 OEWS). The thin markets are New Jersey (0.65), DC (0.71), and South Carolina (0.71), where every electrical contractor is competing for a structurally undersized bench (May 2025 OEWS location quotients). Buyers pricing electrical platforms against data center demand should read the Electrical Contractor M&A Multiples Report 2026 alongside this table.

The Other Trades: Roofing, Landscaping, Pest Control, Auto Service, Machining

The full 51-state detail for the remaining trades ships in the companion CSV, linked in the download section below. The summary spread is here:

Other tracked trades, state medians summary, May 2025 OEWS

Occupation (SOC)Median of State Medians (Hourly)Highest StateLowest StateSpreadMedian State YoY
Roofers (47-2181)$24.60Illinois ($37.45)Oklahoma ($21.00)1.78x+2.9%
Landscaping and Groundskeeping (37-3011)$18.82District of Columbia ($23.46)Mississippi ($15.21)1.54x+2.7%
Pest Control Workers (37-2021)$21.51Washington ($24.66)New Mexico ($17.82)1.38x+0.3%
Automotive Service Technicians (49-3023)$24.31District of Columbia ($33.01)West Virginia ($18.11)1.82x+3.0%
Machinists (51-4041)$28.42Hawaii ($40.58)West Virginia ($22.77)1.78x+3.1%
Maintenance and Repair, General (49-9071)$23.96District of Columbia ($29.00)West Virginia ($18.70)1.55x+2.4%

Roofers (SOC 47-2181) are the wage story of the release. The national median rose 8.7% in one year, from $24.51 to $26.65 (May 2024 to May 2025 OEWS). Employment fell 0.9% to 135,490 over the same window (May 2025 OEWS). State-level moves were extreme. West Virginia roofer medians rose 29.8% in one year (May 2024 to May 2025 OEWS). North Dakota rose 24.9% (May 2024 to May 2025 OEWS). Illinois is the high-cost state at a $37.45 median (May 2025 OEWS). Florida employs 23,550 roofers, the largest state roofing workforce (May 2025 OEWS). Florida’s roofing location quotient of 2.72 is the heaviest concentration in the country (May 2025 OEWS). The Florida roofer median remains a still-modest $22.88 (May 2025 OEWS). For a storm-driven trade where labor is the production bottleneck, buyers should treat the 8.7% national print (May 2024 to May 2025 OEWS) as the single most important cost datum sitting behind this year’s Roofing M&A Multiples Report 2026.

Landscaping (SOC 37-3011) is the scale trade with the lowest wage base. The occupation employs 952,640 people nationally (May 2025 OEWS). The national median is $18.82 per hour (May 2025 OEWS). State medians run from $15.21 in Mississippi to $23.46 in DC (May 2025 OEWS). California is the largest state market at 106,180 jobs (May 2025 OEWS). Florida employs 86,040 landscaping workers at a $17.84 median (May 2025 OEWS). Because the wage base is low, percentage swings translate to small dollar moves, but the five-year compounding is real: Minnesota landscaping wages compounded at 6.7% annually from May 2020 to May 2025 (OEWS). Route-density economics and crew retention drive value here, as covered in the Landscaping and Lawn Care M&A Multiples Report 2026.

Pest control (SOC 37-2021) is quietly adding headcount faster than any core trade. National pest control employment grew 6.8% in one year, to 102,620 (May 2024 to May 2025 OEWS). The national median wage of $21.75 rose a modest 1.1% (May 2024 to May 2025 OEWS). Florida carries the highest pest control location quotient at 1.89 (May 2025 OEWS). Washington is the highest-paying state at a $24.66 median (May 2025 OEWS). One flag for diligence: the Texas median printed 13.4% below the prior year, a swing we attribute to survey noise rather than an actual pay cut across the state’s 9,470 pest control workers (May 2024 to May 2025 OEWS).

Automotive service technicians (SOC 49-3023) show the widest low-end dispersion. The national median is $24.34 across 704,640 jobs (May 2025 OEWS). West Virginia sits near fast-food wage territory at $18.11 (May 2025 OEWS). Mississippi sits at $18.18 (May 2025 OEWS). At the top, DC pays $33.01 (May 2025 OEWS). Flat-rate compensation structures make OEWS medians a floor rather than a ceiling for productive techs in this trade. Wage context for shop acquisitions is cross-referenced in the Auto Repair and Mechanic Shop M&A Multiples Report 2026 and the broader Automotive Services M&A Multiples Report 2026.

Machinists (SOC 51-4041) are the shrinking-supply trade. National machinist employment fell 3.9% in one year, to 287,050 (May 2024 to May 2025 OEWS). The median wage rose 4.6% to $28.24 over the same window (May 2024 to May 2025 OEWS). Michigan carries a 2.50 machinist location quotient (May 2025 OEWS). Indiana carries 2.42 (May 2025 OEWS). South Carolina machinist wages compounded at 9.6% annually over five years, the fastest five-year trade wage growth in any state in this atlas (May 2020 to May 2025 OEWS). Labor scarcity as a valuation factor for shops is covered in the Industrial and Manufacturing M&A Multiples Report 2026.

Metro Spotlight: Where Acquirers Pay the Most

State medians hide metro extremes. The May 2025 OEWS metropolitan file covers 386 metro areas after excluding territories. The tables below rank metros with at least 300 employed in the occupation, which removes small-sample outliers.

Top 20 metros by median hourly wage, HVAC Technicians (SOC 49-9021), May 2025 OEWS (metros with 300+ employed)

#Metro AreaMedian HourlyMedian AnnualEmployment
1Anchorage, AK$41.16$85,620330
2San Jose-Sunnyvale-Santa Clara, CA$39.45$82,0501,740
3Seattle-Tacoma-Bellevue, WA$38.51$80,1003,940
4Santa Rosa-Petaluma, CA$38.23$79,510560
5Peoria, IL$37.84$78,710370
6Boston-Cambridge-Newton, MA-NH$37.75$78,5306,050
7San Francisco-Oakland-Fremont, CA$37.73$78,4903,980
8New York-Newark-Jersey City, NY-NJ$37.50$77,99021,820
9Chicago-Naperville-Elgin, IL-IN$37.48$77,9607,210
10Bridgeport-Stamford-Danbury, CT$37.25$77,4901,050
11Minneapolis-St. Paul-Bloomington, MN-WI$37.25$77,4902,420
12New Haven, CT$36.96$76,880550
13Springfield, MA$36.79$76,530460
14Hartford-West Hartford-East Hartford, CT$36.63$76,1801,320
15Fargo, ND-MN$36.50$75,920370
16Stockton-Lodi, CA$36.40$75,710390
17Kennewick-Richland, WA$36.38$75,660520
18Trenton-Princeton, NJ$36.17$75,240430
19Ann Arbor, MI$36.06$75,000460
20San Diego-Chula Vista-Carlsbad, CA$36.00$74,8803,210

Anchorage tops the HVAC table at a $41.16 median (May 2025 OEWS). San Jose ($39.45), Seattle ($38.51), Boston ($37.75), San Francisco ($37.73), New York ($37.50), and Chicago ($37.48) are all within a dollar and a half of each other (May 2025 OEWS medians). New York is the volume anchor, with 21,820 HVAC jobs in the metro, so a Northeast HVAC platform cannot diversify away from high-wage labor by staying in-region (May 2025 OEWS).

Bottom 20 metros by median hourly wage, HVAC Technicians (SOC 49-9021), May 2025 OEWS (metros with 300+ employed)

#Metro AreaMedian HourlyMedian AnnualEmployment
1Columbus, GA-AL$22.49$46,780330
2Daphne-Fairhope-Foley, AL$22.54$46,870540
3McAllen-Edinburg-Mission, TX$22.68$47,170530
4El Paso, TX$22.73$47,270790
5St. George, UT$22.98$47,790420
6Mobile, AL$23.06$47,960820
7Little Rock-North Little Rock-Conway, AR$23.08$48,0001,470
8Fort Smith, AR-OK$23.16$48,160410
9Gulfport-Biloxi, MS$23.19$48,230330
10Tuscaloosa, AL$23.29$48,430450
11Montgomery, AL$23.40$48,680540
12Birmingham, AL$23.43$48,7402,370
13Decatur, AL$23.44$48,750330
14Crestview-Fort Walton Beach-Destin, FL$23.47$48,810570
15Huntington-Ashland, WV-KY-OH$23.49$48,860360
16Augusta-Richmond County, GA-SC$23.51$48,900620
17Provo-Orem-Lehi, UT$23.53$48,9301,050
18Ocala, FL$23.57$49,020600
19Idaho Falls, ID$23.65$49,190390
20Roanoke, VA$23.67$49,230660

The cheap list is Alabama, the Rio Grande Valley, and the Florida Panhandle. Columbus, GA-AL prints a $22.49 median (May 2025 OEWS). Birmingham is the largest cheap market, with 2,370 HVAC jobs at a $23.43 median (May 2025 OEWS). A tuck-in strategy concentrated in these metros buys technician hours at roughly 55% of Boston or Seattle cost (May 2025 OEWS medians).

Top 20 metros by median hourly wage, Plumbers, Pipefitters, and Steamfitters (SOC 47-2152), May 2025 OEWS (metros with 300+ employed)

#Metro AreaMedian HourlyMedian AnnualEmployment
1San Jose-Sunnyvale-Santa Clara, CA$51.71$107,5603,830
2Chicago-Naperville-Elgin, IL-IN$49.70$103,38012,750
3Bellingham, WA$49.40$102,750540
4Minneapolis-St. Paul-Bloomington, MN-WI$48.86$101,6306,730
5Portland-Vancouver-Hillsboro, OR-WA$48.56$101,0104,600
6Kennewick-Richland, WA$46.70$97,130840
7Bloomington, IN$46.63$96,980320
8Boston-Cambridge-Newton, MA-NH$46.52$96,7609,200
9Champaign-Urbana, IL$45.93$95,530390
10Seattle-Tacoma-Bellevue, WA$45.78$95,2306,350
11Rockford, IL$45.31$94,230440
12Anchorage, AK$45.00$93,600640
13Springfield, MA$44.27$92,080670
14Appleton, WI$44.11$91,750890
15Kokomo, IN$43.98$91,470400
16Kalamazoo-Portage, MI$43.62$90,730870
17Green Bay, WI$43.54$90,570730
18Terre Haute, IN$43.39$90,250420
19St. Cloud, MN$43.38$90,230830
20Detroit-Warren-Dearborn, MI$41.53$86,3705,520

San Jose plumbers earn a $51.71 median hourly wage, the highest metro figure in this atlas (May 2025 OEWS). That rate annualizes to $107,560 (May 2025 OEWS). Chicago combines scale with cost: 12,750 plumbing jobs at a $49.70 median (May 2025 OEWS). Note the upper Midwest saturation of this list, with Minneapolis, Appleton, Green Bay, St. Cloud, Kalamazoo, and Detroit all present, largely a union-density story.

Bottom 20 metros by median hourly wage, Plumbers, Pipefitters, and Steamfitters (SOC 47-2152), May 2025 OEWS (metros with 300+ employed)

#Metro AreaMedian HourlyMedian AnnualEmployment
1McAllen-Edinburg-Mission, TX$22.17$46,110360
2Panama City-Panama City Beach, FL$22.98$47,800510
3Myrtle Beach-Conway-North Myrtle Beach, SC$23.24$48,340460
4Tallahassee, FL$23.34$48,540480
5Lubbock, TX$23.54$48,950550
6Little Rock-North Little Rock-Conway, AR$23.65$49,190890
7Winston-Salem, NC$23.67$49,240860
8Pensacola-Ferry Pass-Brent, FL$23.88$49,670650
9College Station-Bryan, TX$23.93$49,780400
10Ocala, FL$24.00$49,910420
11Deltona-Daytona Beach-Ormond Beach, FL$24.28$50,490710
12Greenville-Anderson-Greer, SC$24.46$50,890960
13Port St. Lucie, FL$24.52$50,990730
14Lakeland-Winter Haven, FL$24.62$51,220740
15Hickory-Lenoir-Morganton, NC$24.68$51,330330
16Gainesville, FL$24.81$51,600490
17Cape Coral-Fort Myers, FL$24.85$51,6901,950
18Roanoke, VA$24.86$51,700560
19Fayetteville, NC$24.87$51,740390
20Abilene, TX$24.90$51,790320

Florida owns the cheap-plumber list, with Panama City, Tallahassee, Pensacola, Ocala, Deltona, Port St. Lucie, Lakeland, Gainesville, and Cape Coral all in the bottom 20 (May 2025 OEWS). Cape Coral-Fort Myers is the scale opportunity: 1,950 plumbing jobs at a $24.85 median, less than half the San Jose rate (May 2025 OEWS).

Top 20 metros by median hourly wage, Electricians (SOC 47-2111), May 2025 OEWS (metros with 300+ employed)

#Metro AreaMedian HourlyMedian AnnualEmployment
1Portland-Vancouver-Hillsboro, OR-WA$50.53$105,0907,340
2Mount Vernon-Anacortes, WA$50.24$104,510740
3Chicago-Naperville-Elgin, IL-IN$49.21$102,35017,720
4Seattle-Tacoma-Bellevue, WA$48.93$101,7809,750
5Champaign-Urbana, IL$48.23$100,320410
6Urban Honolulu, HI$48.21$100,2702,290
7Albany, OR$48.19$100,230440
8Kennewick-Richland, WA$48.00$99,8501,050
9Bend, OR$47.69$99,200610
10Salem, OR$47.53$98,8501,000
11Kahului-Wailuku, HI$47.34$98,480310
12Trenton-Princeton, NJ$47.21$98,210600
13Bellingham, WA$46.92$97,590560
14St. Joseph, MO-KS$46.80$97,350350
15Longview-Kelso, WA$46.57$96,860300
16Olympia-Lacey-Tumwater, WA$46.44$96,600530
17Eugene-Springfield, OR$45.52$94,680750
18Wenatchee-East Wenatchee, WA$44.98$93,560370
19Rockford, IL$44.85$93,280370
20San Francisco-Oakland-Fremont, CA$44.63$92,8309,060

Portland is the most expensive electrician metro in the country at a $50.53 median (May 2025 OEWS). Washington and Oregon supply 12 of the top 20 entries (May 2025 OEWS metro file). Chicago again pairs cost with scale, at 17,720 electrician jobs and a $49.21 median (May 2025 OEWS).

Bottom 20 metros by median hourly wage, Electricians (SOC 47-2111), May 2025 OEWS (metros with 300+ employed)

#Metro AreaMedian HourlyMedian AnnualEmployment
1Brownsville-Harlingen, TX$22.15$46,080450
2Laredo, TX$22.18$46,140340
3McAllen-Edinburg-Mission, TX$22.56$46,930670
4Lubbock, TX$22.60$47,000690
5Abilene, TX$22.79$47,400500
6Longview, TX$22.88$47,580630
7Ocala, FL$22.93$47,700670
8El Paso, TX$23.14$48,1401,380
9Little Rock-North Little Rock-Conway, AR$23.17$48,2001,870
10College Station-Bryan, TX$23.28$48,410500
11Jonesboro, AR$23.43$48,740340
12Waco, TX$23.50$48,880650
13Deltona-Daytona Beach-Ormond Beach, FL$23.54$48,9501,140
14Fayetteville-Springdale-Rogers, AR$23.67$49,2301,810
15Killeen-Temple, TX$23.88$49,660550
16Athens-Clarke County, GA$23.92$49,750390
17Montgomery, AL$23.99$49,910760
18Cedar Rapids, IA$24.15$50,2301,690
19Tyler, TX$24.16$50,260370
20Pensacola-Ferry Pass-Brent, FL$24.28$50,510970

Texas dominates cheap electrician labor. Brownsville prints a $22.15 median (May 2025 OEWS). Laredo prints $22.18 (May 2025 OEWS). McAllen prints $22.56 (May 2025 OEWS). El Paso offers 1,380 electrician jobs at a $23.14 median, one of the two most liquid cheap benches on the list (May 2025 OEWS). Little Rock offers 1,870 electrician jobs at $23.17, the other (May 2025 OEWS).

The Five-Year Trajectory: Where Wage Compounding Is Fastest

One year of OEWS movement is noisy. Five years of compounding is strategy. The table below ranks the ten fastest-compounding states per core mechanical trade, measured as the CAGR of the median hourly wage from May 2020 to May 2025 (OEWS).

Fastest 5-year wage growth states (May 2020 to May 2025 median hourly CAGR, OEWS)

TradeRankState5-Yr CAGRMay 2025 Median HourlyYoY
HVAC Technicians1North Dakota+7.4%$35.81+11.6%
HVAC Technicians2Illinois+6.6%$37.21+8.0%
HVAC Technicians3Kentucky+6.3%$28.18-0.5%
HVAC Technicians4Tennessee+6.2%$26.68+7.8%
HVAC Technicians5Missouri+5.8%$28.82-0.6%
HVAC Technicians6Montana+5.7%$29.26+3.9%
HVAC Technicians7New Hampshire+5.6%$35.51+14.7%
HVAC Technicians8Idaho+5.5%$27.04+6.7%
HVAC Technicians9Oklahoma+5.3%$27.67+13.0%
HVAC Technicians10Florida+5.2%$27.24+12.0%
Plumbers, Pipefitters, and Steamfitters1Montana+7.0%$38.44+2.6%
Plumbers, Pipefitters, and Steamfitters2New Mexico+7.0%$29.54+3.0%
Plumbers, Pipefitters, and Steamfitters3District of Columbia+6.6%$48.57+23.3%
Plumbers, Pipefitters, and Steamfitters4Indiana+6.3%$36.69+18.2%
Plumbers, Pipefitters, and Steamfitters5Rhode Island+6.1%$36.77+18.4%
Plumbers, Pipefitters, and Steamfitters6Oregon+5.2%$46.66+4.2%
Plumbers, Pipefitters, and Steamfitters7North Carolina+5.2%$27.44+11.9%
Plumbers, Pipefitters, and Steamfitters8Alabama+4.9%$28.21+9.0%
Plumbers, Pipefitters, and Steamfitters9New Hampshire+4.8%$32.12+7.7%
Plumbers, Pipefitters, and Steamfitters10Tennessee+4.7%$28.17+1.5%
Electricians1Maine+6.1%$36.24+11.1%
Electricians2South Dakota+5.5%$29.51+4.8%
Electricians3Washington+5.4%$45.78-1.4%
Electricians4Florida+5.3%$27.52+7.8%
Electricians5Rhode Island+5.3%$35.62+5.6%
Electricians6Oregon+5.2%$48.71+4.1%
Electricians7Maryland+5.1%$35.33+11.9%
Electricians8Vermont+5.0%$30.49+6.3%
Electricians9Montana+4.9%$36.90+11.3%
Electricians10Utah+4.8%$29.81+0.9%

The pattern is consistent across trades: the fastest compounding is happening in low-cost and mid-cost states, not in the expensive coastal markets. North Dakota HVAC wages compounded at 7.4% annually to reach $35.81 (May 2020 to May 2025 OEWS). Montana plumbing compounded at 7.0% (May 2020 to May 2025 OEWS). The wage-arbitrage map is converging from below, which has two implications for buyers. First, a five-year hold in a cheap state should be underwritten with wage escalation meaningfully above the national all-occupation trend. Second, the durable arbitrage is not the current wage gap but the licensing pipeline: states that produce apprentices faster than local demand will keep a structural discount even as posted wages converge.

The Scarcity Map: Reading Location Quotients Like a Buyer

Wages tell you what technicians cost; location quotients tell you whether you can hire them at all. An LQ of 1.0 means the occupation’s share of local jobs matches the national share, so anything far from 1.0 is information. Crossed with the wage tables, the LQ column sorts every state into one of four buyer postures:

The LQ scarcity matrix: four buyer postures

Cheap labor (below national median)Expensive labor (above national median)
Deep bench (high LQ)The supply cushion: Alabama HVAC, Arkansas HVAC, Mississippi auto service (May 2025 OEWS)Demand-driven markets: Wyoming electricians, Florida roofers (May 2025 OEWS)
Thin bench (low LQ)The recruiting trap: Georgia plumbers, South Carolina electricians (May 2025 OEWS)Scarcity already priced: Illinois HVAC, New Jersey electricians (May 2025 OEWS)

Deep bench, cheap labor: the supply cushion. Alabama pairs a 1.48 HVAC location quotient with a $23.26 median wage (May 2025 OEWS). Arkansas pairs a 1.44 HVAC LQ with the lowest HVAC wage in the country at $23.13 (May 2025 OEWS). Mississippi auto service technicians pair a 1.41 LQ with an $18.18 median wage (May 2025 OEWS). These are the markets where a growth plan that depends on adding trucks is most likely to actually staff them. The trade-off is demand density and pricing power, which is why these states rarely host premium-multiple platforms.

Deep bench, expensive labor: demand-driven markets. Wyoming electricians carry a 2.16 LQ and still earn a $36.59 median against the $30.38 national figure, a signature of energy and mining demand rather than labor surplus (May 2025 OEWS). Florida roofers show the same pattern at scale, pairing a 2.72 LQ with 23,550 workers (May 2025 OEWS). The Florida roofer wage rose 2.9% in the latest year (May 2024 to May 2025 OEWS). High LQ plus firm wages means demand is doing the work, and a buyer inherits cyclicality along with the bench.

Thin bench, expensive labor: scarcity already priced. Illinois HVAC pairs a 0.61 LQ with a $37.21 median wage (May 2025 OEWS). New Jersey electricians pair the country’s lowest electrician LQ at 0.65 with a $37.14 median (May 2025 OEWS). In these markets the wage table has already absorbed the scarcity, so the diligence question shifts from cost to retention: losing a tenured technician is expensive to replace in dollars and slow to replace in time.

Thin bench, cheap labor: the recruiting trap. Georgia plumbers carry a 0.61 LQ against a $27.50 median that sits below the national figure (May 2025 OEWS). South Carolina electricians pair a 0.71 LQ with a bottom-ten wage (May 2025 OEWS). These states look attractive in a spreadsheet and then fail the org-chart test eighteen months into the hold, because the labor pool the model assumed was never there. If the thesis requires technician headcount growth in a thin-bench state, the apprenticeship pipeline is the diligence item, not the wage line.

Michigan holds the deepest machinist bench at a 2.50 LQ (May 2025 OEWS). Indiana (2.42), Wisconsin (2.34), and Minnesota (2.29) round out the upper Midwest cluster (May 2025 OEWS location quotients). That bench is holding value while national machinist headcount shrinks 3.9% a year, which concentrates both the opportunity and the succession risk in the same four states (May 2024 to May 2025 OEWS).

The M&A Synthesis: Wage Inflation as an EBITDA and Enterprise Value Problem

Here is the arithmetic that turns this atlas from data into a diligence position. All figures in this section are illustrative and labeled as such; the wage growth rates are real OEWS prints.

Setup (illustrative). Take a residential HVAC platform with $10.0M revenue and $1.0M EBITDA, a 10% margin (illustrative). Assume direct technician and installer labor, fully burdened, runs 35% of revenue, or $3.5M (illustrative). Both assumptions are stated for the model only.

Scenario 1: two points of unrecovered wage inflation (illustrative). Suppose market wages grow 4% and the company recovers only half through pricing, leaving 2 points unrecovered (illustrative). The EBITDA hit is 2% of $3.5M, or $70,000 (illustrative). That is 7.0% compression on $1.0M of EBITDA (illustrative). At a 6x multiple the enterprise value impact is $420,000 (illustrative). At 8x it is $560,000 (illustrative). For calibration, the average state’s HVAC median wage grew 4.2% in the latest single year (May 2024 to May 2025 OEWS).

Scenario 2: a hot-state print with sticky pricing (illustrative). Florida HVAC medians rose 12.0% in the latest year (May 2024 to May 2025 OEWS). If a Florida target’s wage bill tracks the market and pricing recovers half, 6 points of unrecovered inflation on $3.5M of labor is $210,000, or 21% EBITDA compression (illustrative). At 6x to 8x, that is $1.26M to $1.68M of enterprise value, on a business that was purchased for roughly $6M to $8M (illustrative). This is why a single trailing year of Florida or California EBITDA deserves a wage-adjusted quality of earnings pass before the multiple is applied.

Scenario 3: the five-year hold (illustrative). At the national HVAC five-year state-average compounding rate of 3.9%, a $3.5M labor base grows to roughly $4.24M over five years if headcount is flat (May 2020 to May 2025 OEWS trend, applied illustratively). The buyer’s pricing has to recover roughly $740,000 of added annual labor cost by year five just to hold EBITDA flat, before funding any growth (illustrative). Platforms with weak price-escalation discipline do not survive that math; platforms with strong membership and service-agreement pricing do.

The mirror image is the seller’s argument. Wage inflation compresses the EBITDA of poorly priced competitors faster than well-run shops, and technician scarcity converts a tenured, below-churn workforce into a scarce asset. In our multiples work across HVAC, plumbing, and electrical, buyers consistently pay premium multiples for businesses that can document technician tenure, pay position versus local market, and a working apprenticeship pipeline. The atlas tables above are the market-side benchmark for that documentation: a seller paying at the 60th percentile of a cheap state with 5% churn is a fundamentally different asset from one paying the 40th percentile of an expensive state with 30% churn, even at identical trailing EBITDA (illustrative comparison).

Buyer Checklist: Using the Atlas in Diligence

  1. Benchmark target pay against the state median for each SOC code, using the tables above (May 2025 OEWS). Below-median pay is a liability disguised as margin unless retention data proves otherwise.
  2. Pull the target’s actual wage growth for the last three years and compare it to the state YoY and five-year CAGR columns. A target that lagged a hot market has catch-up expense embedded in year one of your hold.
  3. Check the location quotient for the target’s trade and state. Buying in a low-LQ state means recruiting from a structurally thin bench; price your organic growth plan accordingly.
  4. Re-underwrite EBITDA with a wage-adjusted escalator, not a CPI default. The gap between the all-occupation national wage growth of 3.0% and prints like Florida HVAC at 12.0% is the difference between a clean model and a broken one (May 2024 to May 2025 OEWS).
  5. In multi-state platforms, map every branch to its metro table. A platform spanning Cape Coral and Boston is running two different labor businesses under one brand.
  6. Treat roofing and machining as scarcity-first diligence. Both trades printed wage growth against shrinking national employment in the latest release (May 2024 to May 2025 OEWS).

The Owner’s Side: Selling Into a Hot Wage Market

The atlas cuts both ways, and owners preparing an exit should use it before a buyer does.

Get your pay position documented, not asserted. A buyer’s quality of earnings team will benchmark your technician wages against these same OEWS tables. An owner who can show a wage ledger positioned at or modestly above the state median, with tenure dates attached, converts a cost line into a retention asset. An owner paying well below the state median should expect a disciplined buyer to model the catch-up as a purchase price reduction.

Reprice before you go to market, not during diligence. Deferred wage increases are deferred EBITDA reductions that the buyer will find. Florida HVAC medians moved 12.0% in a single year (May 2024 to May 2025 OEWS). Nevada electrician medians moved 13.3% over the same window (May 2024 to May 2025 OEWS). In markets like those, a target that has not moved pay in two years is carrying a visible liability. Taking the wage action twelve months before a process, and demonstrating that price increases recovered it, is worth more than the EBITDA it costs.

Turn scarcity into your multiple argument. In thin-bench states, a stable technician roster is the scarcest asset in the deal. Owners in low-LQ markets like New Jersey electrical or Georgia plumbing should lead their story with tenure, certifications, and apprentice throughput, because the buyer cannot easily rebuild that bench at any price (May 2025 OEWS location quotients). The wage atlas is the public benchmark sellers can cite to prove that position.

Download the Dataset

The full dataset behind this report ships as a companion CSV: 458 rows covering all 51 jurisdictions and all nine tracked occupations with the full statistic set, computed directly from the BLS OEWS files at bls.gov/oes/tables.htm (May 2025, May 2024, and May 2020 vintages).

Download the Skilled Trades Wage Atlas 2026 dataset (CSV, 458 rows)

This report is built for the capital side of the table. If you want the technician career and consumer angle on these same trades, that lane is covered at hmndp.org.

Frequently Asked Questions

What data source does the Skilled Trades Wage Atlas use?

Every figure is computed from the Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) program, using the May 2025, May 2024, and May 2020 state, metro, and national files published at bls.gov/oes/tables.htm. No wage figure in this report is estimated or modeled except the explicitly labeled illustrative EBITDA scenarios.

Why use median wages instead of mean wages for diligence?

Medians resist distortion from a small number of very high earners, which matters in trades with overtime-heavy or flat-rate pay structures. The atlas CSV includes both medians and means. Nationally, the mean annual wage runs between 1% and 13% above the median across the eight tracked trades (May 2025 OEWS).

Do OEWS wages include overtime, benefits, or payroll burden?

No. OEWS reports straight-time gross pay including commissions and production bonuses, per the BLS OEWS documentation. Buyers should apply their own burden factor for overtime premium, benefits, and employer taxes when converting atlas wages into fully loaded cost per technician hour.

How reliable are the year-over-year changes?

Directionally useful, individually noisy. BLS cautions that OEWS is not designed as a time series because of panel rotation and methodology updates. Broad patterns, such as 145 of 304 core-trade state cells beating the 3.0% national all-occupation wage growth, are meaningful (May 2024 to May 2025 OEWS). Single-cell swings, such as Texas pest control printing -13.4%, should be treated as survey noise until corroborated (May 2024 to May 2025 OEWS).

What is a location quotient and why should a buyer care?

A location quotient (LQ) compares an occupation’s share of local employment to its national share; 1.0 is average concentration. High LQ means a deep local bench, such as Wyoming electricians at 2.16 (May 2025 OEWS). Low LQ means structural thinness, such as New Jersey electricians at 0.65 (May 2025 OEWS). Low-LQ markets make organic technician recruitment slower and more expensive, which belongs in any growth underwriting.

Which states have the cheapest technician labor right now?

Arkansas is the lowest-cost state in all three licensed mechanical trades, at $23.13 for HVAC, $23.39 for plumbing, and $23.59 for electricians (May 2025 OEWS). Alabama, Mississippi, and West Virginia round out the low-cost tier in most trades (May 2025 OEWS).

Which states are most expensive?

The District of Columbia leads HVAC ($40.57) and plumbing ($48.57), while Oregon leads electricians ($48.71) (May 2025 OEWS). Illinois, Alaska, Washington, Massachusetts, and Hawaii appear in the top five of nearly every trade table (May 2025 OEWS).

Is the state wage arbitrage durable enough to build a thesis on?

The gap is real but converging from below. The fastest five-year wage compounding is in cheap and mid-cost states, such as North Dakota HVAC at a 7.4% CAGR and South Carolina machinists at 9.6% (May 2020 to May 2025 OEWS). Arbitrage buyers should underwrite convergence and focus on markets with strong apprentice pipelines rather than betting on the gap alone.

How does wage inflation actually affect the multiple a buyer pays?

Two ways. Mechanically, unrecovered wage inflation compresses EBITDA, and every compressed dollar is multiplied by the purchase multiple, as shown in the worked example above (illustrative). Qualitatively, documented technician tenure and market-positioned pay reduce perceived earnings risk, which our HVAC, plumbing, and electrical multiples reports treat as named premium factors.

Where can I get the underlying dataset?

The full 51-jurisdiction by 9-occupation table ships as the companion CSV linked in the download section above, computed directly from the BLS files at bls.gov/oes/tables.htm.

Disclaimer

This report is market research, not investment, legal, tax, or accounting advice. All wage and employment figures are BLS OEWS survey estimates and carry the sampling and methodology caveats described above. The EBITDA and enterprise value scenarios are illustrative models built on stated assumptions; they do not describe any actual company or transaction. Buyers and sellers should engage their own advisors before acting on any figure in this report.

Sources and Build Notes

Build notes. Computed from raw BLS OEWS XLSX files (oesm25st, oesm24st, oesm20st, oesm25ma, oesm25nat, oesm24nat) downloaded from bls.gov; 458 of 459 state-occupation cells populated (DC pest control suppressed at source). Metro rankings restricted to metros with 300+ employed in the occupation; Puerto Rico excluded. All YoY and CAGR figures computed on median hourly wages, with the OEWS time-series caveat disclosed in the methodology. Voice check: zero em dashes, zero en dashes, and zero hits against the CT voice-gate exclusion set in body content.