Home Health Care Agency Startup Cost Comparison
Akron, OH vs Chicago, IL
Akron, OH
$42,000 - $291,000
COL Index: 86
VS
Chicago, IL
$53,000 - $360,000
COL Index: 107.8
Detailed Cost Comparison
| Expense | Akron, OH | Chicago, IL | Difference |
|---|---|---|---|
|
Licensing & Certification
|
$5,000 - $50,000 | $5,600 - $50,000 | -1% |
|
Office Space Setup
|
$1,700 - $11,300 | $5,900 - $39,100 | -71% |
|
Software & Technology
|
$3,000 - $15,000 | $3,000 - $15,000 | Same |
|
Insurance & Bonding
|
$5,000 - $25,000 | $5,000 - $25,000 | Same |
|
Initial Caregiver Recruitment
|
$4,300 - $25,500 | $5,800 - $34,500 | -26% |
|
Compliance & Accreditation
|
$3,000 - $20,000 | $3,000 - $20,000 | Same |
|
Marketing & Referral Network
|
$3,000 - $15,000 | $3,000 - $15,000 | Same |
|
Working Capital (3-6 Months)
|
$17,200 - $129,000 | $21,600 - $161,700 | -20% |
| Total Estimated Cost | $42,000 - $291,000 | $53,000 - $360,000 | -19% |
Local Market Factors
| Factor | Akron | Chicago |
|---|---|---|
| Cost of Living Index | 86 | 107.8 |
| Commercial Rent ($/sqft/yr) | $8 - $18 | $25 - $65 |
| Labor Rate Index | 0.85 | 1.15 |
| Sales Tax | 6.75% | 10.25% |
| Minimum Wage | $10.45/hr | $15.80/hr |
| LLC Filing Fee | $99 | $150 |
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