Senior Care Facility Startup Cost Comparison
Richmond, VA vs Houston, TX
Richmond, VA
$103,000 - $994,000
COL Index: 100.5
VS
Houston, TX
$113,000 - $1,188,000
COL Index: 96.5
Detailed Cost Comparison
| Expense | Richmond, VA | Houston, TX | Difference |
|---|---|---|---|
|
Licensing & Certification
|
$5,000 - $30,000 | $5,000 - $30,000 | Same |
|
Facility Acquisition or Lease
|
$28,700 - $478,300 | $41,100 - $684,800 | -30% |
|
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
|
$10,000 - $60,000 | $9,200 - $55,200 | +9% |
|
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)
|
$30,200 - $201,000 | $29,000 - $193,000 | +4% |
| Total Estimated Cost | $103,000 - $994,000 | $113,000 - $1,188,000 | -16% |
Local Market Factors
| Factor | Richmond | Houston |
|---|---|---|
| Cost of Living Index | 100.5 | 96.5 |
| Commercial Rent ($/sqft/yr) | $14 - $30 | $18 - $45 |
| Labor Rate Index | 1 | 0.92 |
| Sales Tax | 6% | 8.25% |
| Minimum Wage | $12.41/hr | $7.25/hr |
| LLC Filing Fee | $100 | $300 |
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