The cost of installing new flooring in your home ranges from $2.25 to $32 per square foot, including materials and labor. The type of flooring chosen determines the cost, with carpet being the most affordable and natural stone the most expensive. Labor costs vary depending on the material's difficulty to install, prep work, and location. While labor costs can reach up to $1,200 per room, hiring a professional flooring contractor can provide a nicer finished product and add value to your home value. The cost of new floors depends on the type of material and type of installation. Subfloor repairs and prep work are also significant hidden costs.