Self-Storage Facility Startup Cost Comparison
Naperville, IL vs New York, NY
Naperville, IL
$432,000 - $5,237,000
COL Index: 112.5
VS
New York, NY
$915,000 - $12,057,000
COL Index: 187.2
Detailed Cost Comparison
| Expense | Naperville, IL | New York, NY | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$500 - $3,000 | $500 - $3,000 | Same |
|
Land & Building
|
$269,600 - $4,043,500 | $695,700 - $10,434,800 | -61% |
|
Storage Units & Access
|
$110,000 - $880,000 | $145,000 - $1,160,000 | -24% |
|
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)
|
$33,800 - $225,000 | $56,200 - $374,400 | -40% |
| Total Estimated Cost | $432,000 - $5,237,000 | $915,000 - $12,057,000 | -56% |
Local Market Factors
| Factor | Naperville | New York |
|---|---|---|
| Cost of Living Index | 112.5 | 187.2 |
| Commercial Rent ($/sqft/yr) | $20 - $42 | $40 - $120 |
| Labor Rate Index | 1.1 | 1.45 |
| Sales Tax | 7.75% | 8.875% |
| Minimum Wage | $14.00/hr | $16.00/hr |
| LLC Filing Fee | $150 | $200 |
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