Real Estate Agency Startup Cost Comparison
New York, NY vs Miami, FL
New York, NY
$50,000 - $214,000
COL Index: 187.2
VS
Miami, FL
$35,000 - $149,000
COL Index: 128.3
Detailed Cost Comparison
| Expense | New York, NY | Miami, FL | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$5,300 - $17,100 | $2,600 - $9,500 | +85% |
|
Broker License & Education
|
$2,000 - $6,000 | $2,000 - $6,000 | Same |
|
Office Lease (First + Last + Security)
|
$15,700 - $78,300 | $8,800 - $44,000 | +78% |
|
Office Build-Out & Furnishing
|
$4,400 - $21,800 | $3,200 - $16,200 | +35% |
|
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)
|
$15,000 - $56,200 | $10,300 - $38,500 | +46% |
| Total Estimated Cost | $50,000 - $214,000 | $35,000 - $149,000 | +43% |
Local Market Factors
| Factor | New York | Miami |
|---|---|---|
| Cost of Living Index | 187.2 | 128.3 |
| Commercial Rent ($/sqft/yr) | $40 - $120 | $25 - $65 |
| Labor Rate Index | 1.45 | 1.08 |
| Sales Tax | 8.875% | 7% |
| Minimum Wage | $16.00/hr | $13.00/hr |
| LLC Filing Fee | $200 | $125 |
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