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Yes, an LVL beam is more affordable than the cost of a steel I-beam, totaling between $50 and $200 per linear foot as opposed to the $100 to $400 per linear foot you’d pay for a steel I-beam. Not only is the wood material more affordable than steel, but it’s also more similar to traditional wooden beams and doesn’t require as much retrofitting to connect joists.

Costs depend on metal type, fabrication complexity, labor, finishing, and shipping or installation requirements.

The difference between a lintel and a beam is what loads each is responsible for supporting. A lintel is a type of beam that is responsible only for supporting the load above an opening, such as a window or door, and transfers the weight to the side walls around an opening. A beam supports the slab and transfers the load to nearby columns, which then disperse the load to the ground.

A steel beam is stronger than a wood beam and requires fewer vertical supports underneath, which means it’s a better option for larger structures or if you want an open space under your home that doesn’t have posts as obstructions. However, steel I-beams cost more than wood ones, and they can be difficult to install retroactively, as getting them into the basement area can be challenging, if not impossible.