Senior Care Facility Startup Cost Comparison
New York, NY vs Houston, TX
New York, NY
$209,000 - $2,456,000
COL Index: 187.2
VS
Houston, TX
$113,000 - $1,188,000
COL Index: 96.5
Detailed Cost Comparison
| Expense | New York, NY | Houston, TX | Difference |
|---|---|---|---|
|
Licensing & Certification
|
$5,300 - $30,000 | $5,000 - $30,000 | +1% |
|
Facility Acquisition or Lease
|
$104,300 - $1,739,100 | $41,100 - $684,800 | +154% |
|
Furnishing & Equipment
|
$15,000 - $150,000 | $15,000 - $150,000 | Same |
|
Insurance (Annual)
|
$8,000 - $40,000 | $8,000 - $40,000 | Same |
|
Initial Staffing & Training
|
$14,500 - $87,000 | $9,200 - $55,200 | +58% |
|
Compliance & Accreditation
|
$3,000 - $20,000 | $3,000 - $20,000 | Same |
|
Marketing & Referral Network
|
$3,000 - $15,000 | $3,000 - $15,000 | Same |
|
Working Capital (3-6 Months)
|
$56,200 - $374,400 | $29,000 - $193,000 | +94% |
| Total Estimated Cost | $209,000 - $2,456,000 | $113,000 - $1,188,000 | +105% |
Local Market Factors
| Factor | New York | Houston |
|---|---|---|
| Cost of Living Index | 187.2 | 96.5 |
| Commercial Rent ($/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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