Real Estate Agency Startup Cost Comparison
Milwaukee, WI vs New York, NY
Milwaukee, WI
$26,000 - $110,000
COL Index: 95.8
VS
New York, NY
$50,000 - $214,000
COL Index: 187.2
Detailed Cost Comparison
| Expense | Milwaukee, WI | New York, NY | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$900 - $4,000 | $5,300 - $17,100 | -78% |
|
Broker License & Education
|
$2,000 - $6,000 | $2,000 - $6,000 | Same |
|
Office Lease (First + Last + Security)
|
$4,500 - $22,500 | $15,700 - $78,300 | -71% |
|
Office Build-Out & Furnishing
|
$2,800 - $13,800 | $4,400 - $21,800 | -37% |
|
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)
|
$7,700 - $28,700 | $15,000 - $56,200 | -49% |
| Total Estimated Cost | $26,000 - $110,000 | $50,000 - $214,000 | -48% |
Local Market Factors
| Factor | Milwaukee | New York |
|---|---|---|
| Cost of Living Index | 95.8 | 187.2 |
| Commercial Rent ($/sqft/yr) | $14 - $32 | $40 - $120 |
| Labor Rate Index | 0.92 | 1.45 |
| Sales Tax | 5.5% | 8.875% |
| Minimum Wage | $7.25/hr | $16.00/hr |
| LLC Filing Fee | $130 | $200 |
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