Cross laminated timber (CLT) is a panelized engineered wood product that is gaining popularity in the United States as a structural material for massive timber buildings. CLT is shown to be cost competitive to steel and concrete in large building construction projects, but is seen as uncompetitive for smaller scale projects, especially light frame wood (LFW) residential construction. The purpose of this study is to provide a detailed comparison of the cost to construct a CLT home versus a LFW home to quantify the cost difference between both options in the single family home (SFH) market. Based on a realistic floor plan, three different designs were compared based on cost and construction timeline to determine the realistic cost differences between SFH constructions using LFW or CLT. The final results show that the CLT option results in a 21% increase in total construction cost from the LFW option. While it is difficult to justify this cost increase in Colorado, potential benefit of CLT construction against natural hazards may make a CLT house cost-effective for hurricane or tornado prone regions.