Real Estate Agency Startup Cost Comparison
Boston, MA vs Chicago, IL
Boston, MA
$43,000 - $194,000
COL Index: 152.4
VS
Chicago, IL
$37,000 - $146,000
COL Index: 107.8
Detailed Cost Comparison
| Expense | Boston, MA | Chicago, IL | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$5,800 - $32,300 | $5,600 - $10,900 | +131% |
|
Broker License & Education
|
$2,000 - $6,000 | $2,000 - $6,000 | Same |
|
Office Lease (First + Last + Security)
|
$10,800 - $53,800 | $8,800 - $44,000 | +22% |
|
Office Build-Out & Furnishing
|
$4,100 - $20,700 | $3,500 - $17,300 | +19% |
|
Technology & MLS Access
|
$3,000 - $12,000 | $3,000 - $12,000 | Same |
|
Insurance (Annual)
|
$2,000 - $8,000 | $2,000 - $8,000 | Same |
|
Marketing & Brand Building
|
$3,000 - $15,000 | $3,000 - $15,000 | Same |
|
Working Capital (3-6 Months)
|
$12,200 - $45,700 | $8,600 - $32,300 | +42% |
| Total Estimated Cost | $43,000 - $194,000 | $37,000 - $146,000 | +30% |
Local Market Factors
| Factor | Boston | Chicago |
|---|---|---|
| Cost of Living Index | 152.4 | 107.8 |
| Commercial Rent ($/sqft/yr) | $30 - $80 | $25 - $65 |
| Labor Rate Index | 1.38 | 1.15 |
| Sales Tax | 6.25% | 10.25% |
| Minimum Wage | $15.00/hr | $15.80/hr |
| LLC Filing Fee | $500 | $150 |
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