Real Estate Investment Business Startup Cost Comparison
Las Cruces, NM vs Chicago, IL
Las Cruces, NM
$20,000 - $324,000
COL Index: 88.5
VS
Chicago, IL
$35,000 - $753,000
COL Index: 107.8
Detailed Cost Comparison
| Expense | Las Cruces, NM | Chicago, IL | Difference |
|---|---|---|---|
|
Business Formation
|
$500 - $3,000 | $500 - $3,000 | Same |
|
First Property Down Payment
|
$6,100 - $182,600 | $19,600 - $587,000 | -69% |
|
Renovation & Repairs
|
$4,400 - $88,500 | $5,400 - $107,800 | -18% |
|
Landlord Insurance
|
$1,000 - $5,000 | $1,000 - $5,000 | Same |
|
Analysis & Management Tools
|
$500 - $3,000 | $500 - $3,000 | Same |
|
Closing & Financing Costs
|
$3,000 - $15,000 | $3,000 - $15,000 | Same |
|
Cash Reserves
|
$4,400 - $26,600 | $5,400 - $32,300 | -18% |
| Total Estimated Cost | $20,000 - $324,000 | $35,000 - $753,000 | -56% |
Local Market Factors
| Factor | Las Cruces | Chicago |
|---|---|---|
| Cost of Living Index | 88.5 | 107.8 |
| Commercial Rent ($/sqft/yr) | $8 - $20 | $25 - $65 |
| Labor Rate Index | 0.8 | 1.15 |
| Sales Tax | 8.3125% | 10.25% |
| Minimum Wage | $12.00/hr | $15.80/hr |
| LLC Filing Fee | $50 | $150 |
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