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Buying a business: Illinois vs Texas

Two markets side by side — inventory, pricing, and what you actually pay per dollar of cash flow, from live Waterfall data.

Illinois

1,106 active listings
Active listings1,106
Median asking$450,000
Median cash flow$180,547 Edge
Typical multiple2.5×
Owner-earnings yield~40%
Median revenue$804,805
VS

Texas

3,900 active listings
Active listings3,900 Edge
Median asking$340,000 Edge
Median cash flow$160,000
Typical multiple2.1×
Owner-earnings yield~47%
Median revenue$690,019

Who wins?

Texas has 253% more businesses on the market than Illinois (3,900 vs 1,106). Texas is cheaper at the median asking price. Texas trades at a lower multiple (2.1× vs 2.5×), meaning you pay less per dollar of cash flow there.

MetricIllinoisTexas
Active listings1,1063,900
Median asking$450,000$340,000
Median cash flow$180,547$160,000
Typical multiple2.5×2.1×
Owner-earnings yield~40%~47%
Median revenue$804,805$690,019
Related comparisons

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