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The cost of wood siding varies by the type of wood. Engineered wood siding tends to be in the middle of typical costs ($3 to $7 per square foot for materials). Hardwoods, for instance, can cost $5 to $20 per square foot for materials alone, but cedar wood can be as cheap as $3 per square foot.

Fiber cement siding is one of the lowest-maintenance options. The material’s formula is resistant to insect activities, moisture, and most physical impacts. Vinyl and aluminium siding is also fairly easy to upkeep. All these low-maintenance options only require basic surface cleaning, caulking, and regular gutter maintenance to prevent water dams from forming. 

Different types of siding provide unique aesthetic and structural features, with each material commanding its own cost. Availability of materials and shipping costs also factors largely into the cost. The common types of siding materials include:

• Stucco: $7–$9 per square foot

• Wood: $1–$15 per square foot

• Engineered wood: $1–$6 per square foot

• Aluminum: $3–$6 per square foot

• Fiber cement: $5–$14 per square foot

• Brick: $10–$20 per square foot

• Brick veneer: $3–$10 per square foot

• Stone: $7–$30 per square foot

• Stone veneer: $5–$11 per square foot

There are several highly durable types of siding that you can build right on top of without removing it, with wood being one of them, provided it's in excellent condition. However, a common reason for siding replacement is to eliminate materials that are in poor condition, making installing new wood siding over old not recommended. Additionally, the cost of adding siding over existing siding can increase costs to between $7 and $13 per square foot.