In the construction industry, the pressure for cost-effective and space-saving sustainable building is evident from economic, social, and environmental perspectives. Although the term sustainability itself often seems somewhat worn due to its overuse, sustainable building at a high level has now taken on a central role in the construction sector. A renaissance of multi-story wooden construction began in Austria with the harmonization of building regulations. Modern wooden construction using frame construction is characterized by its ecological advantages as a predominantly renewable resource, as well as its high degree of prefabrication that is independent of weather conditions, resulting in comparatively cost-effective building materials. A project study of a multi-story residential building examines the economic viability of wooden frame and reinforced concrete construction methods using the DCF method and the income capitalization approach. Starting from the establishment of the building-physical equivalence of both materials, such as thermal and sound insulation values, fire protection, and the comparison of production costs, a real estate economic comparison of the two construction methods is drawn over a period of 10 years using the DCF method.