Farm Startup Cost Comparison

Worcester, MA vs New York, NY

Worcester, MA

$47,000 - $510,000

COL Index: 112.4

VS

New York, NY

$71,000 - $1,083,000

COL Index: 187.2

Detailed Cost Comparison

Expense Worcester, MA New York, NY Difference
Business Registration & Licenses
$3,500 - $16,500 $5,300 - $17,100 -11%
Land Purchase or Lease
$4,600 - $182,600 $17,400 - $695,700 -74%
Farm Equipment & Machinery
$15,000 - $120,000 $15,000 - $120,000 Same
Seeds, Plants, or Livestock
$2,000 - $30,000 $2,000 - $30,000 Same
Structures & Fencing
$5,400 - $64,800 $7,300 - $87,000 -26%
Irrigation System
$3,000 - $30,000 $3,000 - $30,000 Same
Farm Insurance (Annual)
$2,000 - $10,000 $2,000 - $10,000 Same
Working Capital (6 Months)
$11,200 - $56,200 $18,700 - $93,600 -40%
Total Estimated Cost $47,000 - $510,000 $71,000 - $1,083,000 -52%

Local Market Factors

Factor Worcester New York
Cost of Living Index 112.4 187.2
Commercial Rent ($/sqft/yr) $14 - $28 $40 - $120
Labor Rate Index 1.08 1.45
Sales Tax 6.25% 8.875%
Minimum Wage $15.00/hr $16.00/hr
LLC Filing Fee $500 $200

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