Airbnb Rental Business Startup Cost Comparison
St. Paul, MN vs Miami, FL
St. Paul, MN
$10,000 - $53,000
COL Index: 104.5
VS
Miami, FL
$12,000 - $60,000
COL Index: 128.3
Detailed Cost Comparison
| Expense | St. Paul, MN | Miami, FL | Difference |
|---|---|---|---|
|
Business Registration & Permits
|
$1,400 - $6,100 | $2,600 - $9,500 | -38% |
|
Furnishing & Decor
|
$3,000 - $20,000 | $3,000 - $20,000 | Same |
|
Smart Locks & Technology
|
$500 - $3,000 | $500 - $3,000 | Same |
|
Professional Photography
|
$200 - $1,000 | $200 - $1,000 | Same |
|
Guest Supplies & Welcome Kit
|
$300 - $1,500 | $300 - $1,500 | Same |
|
Short-Term Rental Insurance (Annual)
|
$1,000 - $3,000 | $1,000 - $3,000 | Same |
|
Listing Setup & Marketing
|
$500 - $3,000 | $500 - $3,000 | Same |
|
Working Capital (3 Months)
|
$3,100 - $15,700 | $3,800 - $19,200 | -18% |
| Total Estimated Cost | $10,000 - $53,000 | $12,000 - $60,000 | -13% |
Local Market Factors
| Factor | St. Paul | Miami |
|---|---|---|
| Cost of Living Index | 104.5 | 128.3 |
| Commercial Rent ($/sqft/yr) | $14 - $34 | $25 - $65 |
| Labor Rate Index | 1.02 | 1.08 |
| Sales Tax | 8.375% | 7% |
| Minimum Wage | $15.57/hr | $13.00/hr |
| LLC Filing Fee | $155 | $125 |
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