Real Estate Agency Startup Cost Comparison
South Bend, IN vs New York, NY
South Bend, IN
$22,000 - $95,000
COL Index: 83.5
VS
New York, NY
$50,000 - $214,000
COL Index: 187.2
Detailed Cost Comparison
| Expense | South Bend, IN | New York, NY | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$700 - $3,200 | $5,300 - $17,100 | -83% |
|
Broker License & Education
|
$2,000 - $6,000 | $2,000 - $6,000 | Same |
|
Office Lease (First + Last + Security)
|
$2,500 - $12,700 | $15,700 - $78,300 | -84% |
|
Office Build-Out & Furnishing
|
$2,500 - $12,500 | $4,400 - $21,800 | -43% |
|
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)
|
$6,700 - $25,100 | $15,000 - $56,200 | -55% |
| Total Estimated Cost | $22,000 - $95,000 | $50,000 - $214,000 | -56% |
Local Market Factors
| Factor | South Bend | New York |
|---|---|---|
| Cost of Living Index | 83.5 | 187.2 |
| Commercial Rent ($/sqft/yr) | $8 - $18 | $40 - $120 |
| Labor Rate Index | 0.83 | 1.45 |
| Sales Tax | 7% | 8.875% |
| Minimum Wage | $7.25/hr | $16.00/hr |
| LLC Filing Fee | $95 | $200 |
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