Self-Storage Facility Startup Cost Comparison
New York, NY vs Houston, TX
New York, NY
$915,000 - $12,057,000
COL Index: 187.2
VS
Houston, TX
$413,000 - $5,126,000
COL Index: 96.5
Detailed Cost Comparison
| Expense | New York, NY | Houston, TX | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$500 - $3,000 | $500 - $3,000 | Same |
|
Land & Building
|
$695,700 - $10,434,800 | $273,900 - $4,108,700 | +154% |
|
Storage Units & Access
|
$145,000 - $1,160,000 | $92,000 - $736,000 | +58% |
|
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)
|
$56,200 - $374,400 | $29,000 - $193,000 | +94% |
| Total Estimated Cost | $915,000 - $12,057,000 | $413,000 - $5,126,000 | +134% |
Local Market Factors
| Factor | New York | Houston |
|---|---|---|
| Cost of Living Index | 187.2 | 96.5 |
| Commercial Rent ($/sqft/yr) | $40 - $120 | $18 - $45 |
| Labor Rate Index | 1.45 | 0.92 |
| Sales Tax | 8.875% | 8.25% |
| Minimum Wage | $16.00/hr | $7.25/hr |
| LLC Filing Fee | $200 | $300 |
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