Abstract This paper presents details of the numerical examination and performance comparison of steel buckling restrained braced frames (BRBFs) designed with different response modification factors, using the next-generation performance assessment approach. Archetypal BRBF designs were conducted following the US provisions and considering response factors equal to or less than the codified limit. The archetypical buildings were subjected to ground-motions acquired from the FEMA P695 Far-Field record-set and scaled to MCE and DBE intensity levels. The FEMA P-58 performance assessment procedure was used to evaluate the results. The interstory drift ratio, residual interstory drift ratio, and peak story acceleration demands were determined and converted to performance quantities by using the Performance Assessment Calculation Tool (PACT). The repair time, probabilistic distribution of repair cost, unsafe placard probabilities, and irreparable residual drift probabilities were obtained, and a comparative study of response modification factors in terms of these results was conducted. The results show that designs with higher response factors result in higher repair costs, due to the damage of drift sensitive components and high residual drifts. On the other hand, BRBFs designed with lower response factors were found to experience higher accelerations, which result in an increase in the repair cost for acceleration sensitive components. An ideal response factor is proposed herein based on the consequence measures. The study was complemented by investigating the behavior of self-centering BRBFs and comparing their performance with those of conventional BRBFs.