Metal Stud Framing Costs. Installing steel studs in the average 2,000 square foot home will run an average of $21,000 with a range of $19,000 to $25,000.Though metal studs currently run in the $2 to $4 per square foot range, steel prices fluctuate over time causing material costs to rise or fall.Regardless of the steel market, labor remains relatively stable at about $5 to $10 per square