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How to Price a Freelance Project
The short answer: estimate the hours, multiply by your rate, add a 15–25% buffer for revisions and surprises, add project costs, and round up. Then put the scope in writing and take a deposit before you start.
Five steps to a project price
- Break the project into tasks and estimate hours for each, including calls, revisions and handoff.
- Multiply by your hourly rate. Use your minimum from how to set your freelance rate, or your market rate if it's higher.
- Add a buffer of 15–25%. Projects almost always take longer than planned.
- Add project costs such as stock images, fonts, software or subcontractors.
- Round up to a clean number. $1,850 reads better than $1,812.
Project quote calculator
Worked example
A 20-hour website at $75 an hour, with a 20% buffer and $50 in project costs: 20 × $75 × 1.2 + $50 = $1,850. Ask for a $925 deposit to start and $925 on delivery. If the project takes only 16 hours, you've earned about $113 an hour after project costs.
Put the scope in writing
A fixed price only works with a clear scope. Your proposal or contract should cover:
- The exact deliverables and format
- The number of revision rounds included
- The timeline and what you need from the client, and when
- Payment terms: deposit, final payment, and late fees
- What counts as extra work, and how it's priced (your hourly rate or a change order)
For a full outline and scope wording, see how to write a freelance proposal. Scope creep is the main way fixed-price projects lose money. When a client asks for more, reply with a short change estimate before doing the work.
Tools for proposals and getting paid
Send proposals clients can sign and pay a deposit on in one step.
Try HoneyBook →Invoice the balance on delivery and send automatic payment reminders.
Try FreshBooks →Some links on this page are affiliate links, which may earn us a commission at no extra cost to you. How we choose recommendations.
After the project: check your real rate
Divide what you were paid by the hours it actually took. If it's below your target rate, raise your estimate or buffer next time. This habit is what makes project pricing more profitable than hourly over time. For when to use each model, see hourly vs. project pricing.
FAQ
How do I price a freelance project?
Estimate the hours, multiply by your hourly rate, add a 15–25% buffer and any project costs, then round up. Define the scope in writing and take a deposit.
How much deposit should a freelancer ask for?
Many freelancers ask for 50% up front on smaller projects, or split larger projects into milestone payments.
How do I handle scope creep on a fixed-price project?
Agree on deliverables and revision rounds in writing. When the client asks for more, send a short change estimate before starting the extra work.