Self-Storage Facility Startup Cost Comparison
Chicago, IL vs Houston, TX
Chicago, IL
$557,000 - $7,093,000
COL Index: 107.8
VS
Houston, TX
$413,000 - $5,126,000
COL Index: 96.5
Detailed Cost Comparison
| Expense | Chicago, IL | Houston, TX | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$500 - $3,000 | $500 - $3,000 | Same |
|
Land & Building
|
$391,300 - $5,869,600 | $273,900 - $4,108,700 | +43% |
|
Storage Units & Access
|
$115,000 - $920,000 | $92,000 - $736,000 | +25% |
|
Management Software & Security
|
$10,000 - $50,000 | $10,000 - $50,000 | Same |
|
Business Insurance (Annual)
|
$5,000 - $20,000 | $5,000 - $20,000 | Same |
|
Marketing & Visibility
|
$3,000 - $15,000 | $3,000 - $15,000 | Same |
|
Working Capital (6 Months)
|
$32,300 - $215,600 | $29,000 - $193,000 | +12% |
| Total Estimated Cost | $557,000 - $7,093,000 | $413,000 - $5,126,000 | +38% |
Local Market Factors
| Factor | Chicago | Houston |
|---|---|---|
| Cost of Living Index | 107.8 | 96.5 |
| Commercial Rent ($/sqft/yr) | $25 - $65 | $18 - $45 |
| Labor Rate Index | 1.15 | 0.92 |
| Sales Tax | 10.25% | 8.25% |
| Minimum Wage | $15.80/hr | $7.25/hr |
| LLC Filing Fee | $150 | $300 |
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