The construction industry is known for its distinct range of materials, techniques, and methods which can significantly influence a structure’s performance and overall cost. Among the vast number of existing structural systems, the most adopted types are reinforced concrete (RC), steel, and composite structural systems. Designers must judiciously select from a multitude of structural systems to optimize strength, stiffness, stability, sustainability, and cost-effectiveness in their projects. This study aims to compare the seismic performance and cost-effectiveness of RC, steel, and composite systems. Additionally, a parametric study on composite systems explores variations in parameters such as number of stories, concrete grade, reinforcement grade, soil type, and seismic zone factor. Seismic analysis employs response spectrum analysis, while statistical analysis utilizes one-factor-at-a-time (OFAT) analysis. The results are presented in terms of base shear, displacement, and cost. This study aims to help architects, designers, decision-makers, and industry professionals make informed decisions that match project specifications, performance requirements, and financial constraints. The research highlights the crucial need for a thorough and tailored approach in selecting structural systems, focusing on cost-effectiveness. It emphasizes the significance of giving equal consideration to both factors when making decisions.