The cost to install drywall is about $1.50 per square foot. After material and labor are added in, the cost per panel can range from around $40.00 to $60.00. A typical 12x12 room, for example, will use 12 panels.rywall joint tape varies widely in price depending on if you just want basic joint tape, mold-resistant, fiber mesh, laminated, etc. Most typical rolls will cost you around $3.00 to $5.00, with some rolls as cheap as $1.75 and others up around $15.00, so shop wisely!