Real Estate Investment Business Startup Cost Comparison
Palm Coast, FL vs Chicago, IL
Palm Coast, FL
$23,000 - $407,000
COL Index: 97.3
VS
Chicago, IL
$35,000 - $753,000
COL Index: 107.8
Detailed Cost Comparison
| Expense | Palm Coast, FL | Chicago, IL | Difference |
|---|---|---|---|
|
Business Formation
|
$500 - $3,000 | $500 - $3,000 | Same |
|
First Property Down Payment
|
$8,500 - $254,300 | $19,600 - $587,000 | -57% |
|
Renovation & Repairs
|
$4,900 - $97,300 | $5,400 - $107,800 | -10% |
|
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
|
$4,900 - $29,200 | $5,400 - $32,300 | -10% |
| Total Estimated Cost | $23,000 - $407,000 | $35,000 - $753,000 | -45% |
Local Market Factors
| Factor | Palm Coast | Chicago |
|---|---|---|
| Cost of Living Index | 97.3 | 107.8 |
| Commercial Rent ($/sqft/yr) | $13 - $26 | $25 - $65 |
| Labor Rate Index | 0.92 | 1.15 |
| Sales Tax | 7% | 10.25% |
| Minimum Wage | $13.00/hr | $15.80/hr |
| LLC Filing Fee | $125 | $150 |
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