Real Estate Agency Startup Cost Comparison
Olympia, WA vs Chicago, IL
Olympia, WA
$29,000 - $121,000
COL Index: 110.5
VS
Chicago, IL
$37,000 - $146,000
COL Index: 107.8
Detailed Cost Comparison
| Expense | Olympia, WA | Chicago, IL | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$2,000 - $7,300 | $5,600 - $10,900 | -44% |
|
Broker License & Education
|
$2,000 - $6,000 | $2,000 - $6,000 | Same |
|
Office Lease (First + Last + Security)
|
$4,700 - $23,500 | $8,800 - $44,000 | -47% |
|
Office Build-Out & Furnishing
|
$3,200 - $15,800 | $3,500 - $17,300 | -9% |
|
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)
|
$8,800 - $33,200 | $8,600 - $32,300 | +3% |
| Total Estimated Cost | $29,000 - $121,000 | $37,000 - $146,000 | -18% |
Local Market Factors
| Factor | Olympia | Chicago |
|---|---|---|
| Cost of Living Index | 110.5 | 107.8 |
| Commercial Rent ($/sqft/yr) | $16 - $32 | $25 - $65 |
| Labor Rate Index | 1.05 | 1.15 |
| Sales Tax | 9% | 10.25% |
| Minimum Wage | $16.28/hr | $15.80/hr |
| LLC Filing Fee | $180 | $150 |
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