Home Health Care Agency Startup Cost Comparison
Yonkers, NY vs Chicago, IL
Yonkers, NY
$57,000 - $393,000
COL Index: 132.8
VS
Chicago, IL
$53,000 - $360,000
COL Index: 107.8
Detailed Cost Comparison
| Expense | Yonkers, NY | Chicago, IL | Difference |
|---|---|---|---|
|
Licensing & Certification
|
$5,000 - $50,000 | $5,600 - $50,000 | -1% |
|
Office Space Setup
|
$4,600 - $30,400 | $5,900 - $39,100 | -22% |
|
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
|
$6,400 - $38,400 | $5,800 - $34,500 | +11% |
|
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)
|
$26,600 - $199,200 | $21,600 - $161,700 | +23% |
| Total Estimated Cost | $57,000 - $393,000 | $53,000 - $360,000 | +9% |
Local Market Factors
| Factor | Yonkers | Chicago |
|---|---|---|
| Cost of Living Index | 132.8 | 107.8 |
| Commercial Rent ($/sqft/yr) | $22 - $48 | $25 - $65 |
| Labor Rate Index | 1.28 | 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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