Dental Practice Startup Cost Comparison
New York, NY vs Chicago, IL
New York, NY
$406,000 - $1,041,000
COL Index: 187.2
VS
Chicago, IL
$330,000 - $827,000
COL Index: 107.8
Detailed Cost Comparison
| Expense | New York, NY | Chicago, IL | Difference |
|---|---|---|---|
|
Business Formation & Dental Licensing
|
$5,300 - $17,100 | $5,600 - $12,000 | +27% |
|
Commercial Lease (First + Last + Security)
|
$41,700 - $156,500 | $23,500 - $88,000 | +78% |
|
Dental Equipment & Technology
|
$150,000 - $350,000 | $150,000 - $350,000 | Same |
|
Dental Supplies & Materials
|
$10,000 - $30,000 | $10,000 - $30,000 | Same |
|
Dental Office Build-Out
|
$87,000 - $217,500 | $69,000 - $172,500 | +26% |
|
Malpractice & Business Insurance (Annual)
|
$8,000 - $20,000 | $8,000 - $20,000 | Same |
|
Marketing & Patient Acquisition
|
$10,000 - $25,000 | $10,000 - $25,000 | Same |
|
Working Capital (3-6 Months)
|
$93,600 - $224,600 | $53,900 - $129,400 | +74% |
| Total Estimated Cost | $406,000 - $1,041,000 | $330,000 - $827,000 | +25% |
Local Market Factors
| Factor | New York | Chicago |
|---|---|---|
| Cost of Living Index | 187.2 | 107.8 |
| Commercial Rent ($/sqft/yr) | $40 - $120 | $25 - $65 |
| Labor Rate Index | 1.45 | 1.15 |
| Sales Tax | 8.875% | 10.25% |
| Minimum Wage | $16.00/hr | $15.80/hr |
| LLC Filing Fee | $200 | $150 |
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