Real Estate Agency Startup Cost Comparison
Springfield, IL vs Miami, FL
Springfield, IL
$23,000 - $98,000
COL Index: 86.5
VS
Miami, FL
$35,000 - $149,000
COL Index: 128.3
Detailed Cost Comparison
| Expense | Springfield, IL | Miami, FL | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$700 - $3,300 | $2,600 - $9,500 | -67% |
|
Broker License & Education
|
$2,000 - $6,000 | $2,000 - $6,000 | Same |
|
Office Lease (First + Last + Security)
|
$2,900 - $14,700 | $8,800 - $44,000 | -67% |
|
Office Build-Out & Furnishing
|
$2,600 - $12,900 | $3,200 - $16,200 | -20% |
|
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)
|
$6,900 - $26,000 | $10,300 - $38,500 | -33% |
| Total Estimated Cost | $23,000 - $98,000 | $35,000 - $149,000 | -34% |
Local Market Factors
| Factor | Springfield | Miami |
|---|---|---|
| Cost of Living Index | 86.5 | 128.3 |
| Commercial Rent ($/sqft/yr) | $10 - $20 | $25 - $65 |
| Labor Rate Index | 0.86 | 1.08 |
| Sales Tax | 9.75% | 7% |
| Minimum Wage | $14.00/hr | $13.00/hr |
| LLC Filing Fee | $150 | $125 |
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