This type costs an average of $5 to $10 per square foot, with installation costs running $3 to $10 per square foot. High: Some of the top-of-the-line engineered hardwood products have seven or more core layers with a top veneer that's around 1/6-inch thick, often made of exotic wood. These cost around $8 to $13 per square foot, with another $3 to $10 per square foot in installation costs.