Self-Storage Facility Startup Cost Comparison
Syracuse, NY vs Houston, TX
Syracuse, NY
$245,000 - $2,660,000
COL Index: 86.2
VS
Houston, TX
$413,000 - $5,126,000
COL Index: 96.5
Detailed Cost Comparison
| Expense | Syracuse, NY | Houston, TX | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$500 - $3,000 | $500 - $3,000 | Same |
|
Land & Building
|
$113,000 - $1,695,700 | $273,900 - $4,108,700 | -59% |
|
Storage Units & Access
|
$88,000 - $704,000 | $92,000 - $736,000 | -4% |
|
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)
|
$25,900 - $172,400 | $29,000 - $193,000 | -11% |
| Total Estimated Cost | $245,000 - $2,660,000 | $413,000 - $5,126,000 | -48% |
Local Market Factors
| Factor | Syracuse | Houston |
|---|---|---|
| Cost of Living Index | 86.2 | 96.5 |
| Commercial Rent ($/sqft/yr) | $8 - $18 | $18 - $45 |
| Labor Rate Index | 0.88 | 0.92 |
| Sales Tax | 8% | 8.25% |
| Minimum Wage | $15.00/hr | $7.25/hr |
| LLC Filing Fee | $200 | $300 |
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