Home Health Care Agency Startup Cost Comparison
Springfield, IL vs New York, NY
Springfield, IL
$43,000 - $294,000
COL Index: 86.5
VS
New York, NY
$74,000 - $519,000
COL Index: 187.2
Detailed Cost Comparison
| Expense | Springfield, IL | New York, NY | Difference |
|---|---|---|---|
|
Licensing & Certification
|
$5,000 - $50,000 | $5,300 - $50,000 | -1% |
|
Office Space Setup
|
$2,000 - $13,000 | $10,400 - $69,600 | -81% |
|
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 - $25,800 | $7,300 - $43,500 | -41% |
|
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)
|
$17,300 - $129,800 | $37,400 - $280,800 | -54% |
| Total Estimated Cost | $43,000 - $294,000 | $74,000 - $519,000 | -43% |
Local Market Factors
| Factor | Springfield | New York |
|---|---|---|
| Cost of Living Index | 86.5 | 187.2 |
| Commercial Rent ($/sqft/yr) | $10 - $20 | $40 - $120 |
| Labor Rate Index | 0.86 | 1.45 |
| Sales Tax | 9.75% | 8.875% |
| Minimum Wage | $14.00/hr | $16.00/hr |
| LLC Filing Fee | $150 | $200 |
View Full Details
Ready to Start Your Home Health Care Agency?
Start your Home Health Care Agency LLC in — free registered agent for 1 year.
Form Your LLC for $0 + State Fee →Trusted by 500,000+ businesses · Excellent rating on Trustpilot