Real Estate Agency Startup Cost Comparison
Fargo, ND vs New York, NY
Fargo, ND
$24,000 - $103,000
COL Index: 91.5
VS
New York, NY
$50,000 - $214,000
COL Index: 187.2
Detailed Cost Comparison
| Expense | Fargo, ND | New York, NY | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$700 - $3,300 | $5,300 - $17,100 | -82% |
|
Broker License & Education
|
$2,000 - $6,000 | $2,000 - $6,000 | Same |
|
Office Lease (First + Last + Security)
|
$3,500 - $17,600 | $15,700 - $78,300 | -78% |
|
Office Build-Out & Furnishing
|
$2,700 - $13,500 | $4,400 - $21,800 | -38% |
|
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)
|
$7,300 - $27,500 | $15,000 - $56,200 | -51% |
| Total Estimated Cost | $24,000 - $103,000 | $50,000 - $214,000 | -52% |
Local Market Factors
| Factor | Fargo | New York |
|---|---|---|
| Cost of Living Index | 91.5 | 187.2 |
| Commercial Rent ($/sqft/yr) | $12 - $24 | $40 - $120 |
| Labor Rate Index | 0.9 | 1.45 |
| Sales Tax | 7.5% | 8.875% |
| Minimum Wage | $7.25/hr | $16.00/hr |
| LLC Filing Fee | $135 | $200 |
View Full Details
Ready to Start Your Real Estate Agency?
Start your Real Estate 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