Insurance Agency Startup Cost Comparison
West Palm Beach, FL vs Houston, TX
West Palm Beach, FL
$23,000 - $95,000
COL Index: 110.2
VS
Houston, TX
$21,000 - $89,000
COL Index: 96.5
Detailed Cost Comparison
| Expense | West Palm Beach, FL | Houston, TX | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$2,400 - $8,300 | $1,900 - $6,200 | +32% |
|
Insurance Producer Licenses
|
$1,000 - $4,000 | $1,000 - $4,000 | Same |
|
Office Lease (First + Last + Security)
|
$4,000 - $20,200 | $4,100 - $20,500 | -2% |
|
Technology & Equipment
|
$2,000 - $8,000 | $2,000 - $8,000 | Same |
|
Carrier Appointments & Bonds
|
$1,000 - $5,000 | $1,000 - $5,000 | Same |
|
E&O and Business Insurance (Annual)
|
$1,500 - $6,000 | $1,500 - $6,000 | Same |
|
Marketing & Lead Generation
|
$2,000 - $10,000 | $2,000 - $10,000 | Same |
|
Working Capital (3-6 Months)
|
$8,800 - $33,100 | $7,700 - $29,000 | +14% |
| Total Estimated Cost | $23,000 - $95,000 | $21,000 - $89,000 | +7% |
Local Market Factors
| Factor | West Palm Beach | Houston |
|---|---|---|
| Cost of Living Index | 110.2 | 96.5 |
| Commercial Rent ($/sqft/yr) | $20 - $42 | $18 - $45 |
| Labor Rate Index | 1.05 | 0.92 |
| Sales Tax | 7% | 8.25% |
| Minimum Wage | $13.00/hr | $7.25/hr |
| LLC Filing Fee | $125 | $300 |
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