Self-Storage Facility Startup Cost Comparison
Joliet, IL vs New York, NY
Joliet, IL
$304,000 - $3,489,000
COL Index: 93.5
VS
New York, NY
$915,000 - $12,057,000
COL Index: 187.2
Detailed Cost Comparison
| Expense | Joliet, IL | New York, NY | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$500 - $3,000 | $500 - $3,000 | Same |
|
Land & Building
|
$165,200 - $2,478,300 | $695,700 - $10,434,800 | -76% |
|
Storage Units & Access
|
$92,000 - $736,000 | $145,000 - $1,160,000 | -37% |
|
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)
|
$28,100 - $187,000 | $56,200 - $374,400 | -50% |
| Total Estimated Cost | $304,000 - $3,489,000 | $915,000 - $12,057,000 | -71% |
Local Market Factors
| Factor | Joliet | New York |
|---|---|---|
| Cost of Living Index | 93.5 | 187.2 |
| Commercial Rent ($/sqft/yr) | $12 - $26 | $40 - $120 |
| Labor Rate Index | 0.92 | 1.45 |
| Sales Tax | 8% | 8.875% |
| Minimum Wage | $14.00/hr | $16.00/hr |
| LLC Filing Fee | $150 | $200 |
View Full Details
Ready to Start Your Self-Storage Facility?
Start your Self-Storage Facility LLC in — free registered agent for 1 year.
Form Your LLC for $0 + State Fee →Trusted by 500,000+ businesses · Excellent rating on Trustpilot