Where Should You Buy a Laundromat? (2026 State Rankings)
We ranked 6 major markets by price, cash flow, and value
If you're flexible on location, you have a major advantage in laundromat buying. The same $500K investment performs very differently depending on where you deploy it.
We analyzed 223 laundromat listings across California, New York, Texas, Florida, Illinois, Georgia, Pennsylvania, Ohio, and Arizona to find out which markets offer the best value — and which ones you should probably avoid.
The Quick Rankings
| Rank | State | Median Price | CF Multiple | Verdict |
|---|---|---|---|---|
| 🥇 | New York | $599K | 4.7x | Best returns, most inventory |
| 🥈 | California | $563K | 4.9x | Solid all-around |
| 🥉 | Georgia | $439K | 7.3x | Cheapest entry point |
| 4 | Pennsylvania | $1.02M | 5.7x | Scale plays only |
| 5 | Ohio | $499K | 6.0x | Good if includes real estate |
| 6 | Illinois | $625K | 6.2x | Overpriced for what you get |
The key metric here is CF multiple (Cash Flow Multiple) — how many years of profit to recoup your investment. Lower is better. A 4.7x multiple means ~5 years to pay back; 7.3x means ~7+ years.
🥇 Best Returns: New York
The numbers:
- Median price: $599,000
- Cash flow multiple: 4.7x (best in our data)
- Listings: 72 (most options)
Why it wins: New York has the best cash flow multiples in our entire dataset. Dense population, high renter percentage, and constant demand mean laundromats here generate more profit relative to their purchase price.
The catch: Forget Manhattan. The value is in the outer boroughs — Brooklyn ($13 listings), Bronx (8), Queens (3), Staten Island (4). A $500K Brooklyn laundromat often outperforms a $700K one in a "nicer" market.
Best for: Buyers who want maximum cash-on-cash returns and don't mind urban environments.
Deals we found:
- Kings County: $200K / $81K CF = 2.5x
- Bronx: $650K / $200K CF = 3.2x
- Brooklyn: $499K / $166K CF = 3.0x
🥈 Solid All-Around: California
The numbers:
- Median price: $563,000
- Cash flow multiple: 4.9x
- Listings: 42
Why it works: California's laundromat market is mature and liquid. You'll find more variety — turnkey operations, retool opportunities, deals with seller financing — and a professional broker ecosystem that makes transactions smoother.
The catch: Utility costs are brutal. Water and natural gas eat into margins more than anywhere else. Factor an extra $500–$1,000/month in operating costs compared to other states.
Best for: Buyers who want a mature market with lots of options and don't mind paying California prices.
Deals we found:
- Riverside: $125K / $96K CF = 1.3x 🔥
- Los Angeles: $269K / $176K CF = 1.5x 🔥
Yes, two of the best deals in our entire dataset are in California. The market is big enough that mispriced opportunities slip through.
🥉 Cheapest Entry: Georgia
The numbers:
- Median price: $439,000 (lowest)
- Cash flow multiple: 7.3x
- Listings: 14
Why it's interesting: If your goal is getting in the game with less capital, Georgia offers the lowest median price. The Atlanta metro is growing fast, and laundromat infrastructure hasn't caught up to population growth yet.
The catch: The higher CF multiple (7.3x) means you're paying more per dollar of cash flow than NY or CA. You're trading off returns for a lower entry point.
Best for: First-time buyers with limited capital who want to owner-operate in a growing market.
Deals we found:
- Smyrna (dry cleaner combo): $140K / $108K CF = 1.3x 🔥
- Lawrenceville: $700K / $108K CF = 6.5x
The Rest of the Pack
Pennsylvania — For Scale Players Only
- Median price: $1.02M (highest)
- CF multiple: 5.7x
- Listings: 11
Philadelphia dominates this market, and most listings are multi-store packages or include real estate. Not a great market for first-time buyers, but interesting if you're looking to acquire a portfolio.
Standout deal: Delaware County combo (laundromat + dry cleaner): $90K / $58K CF = 1.6x
Ohio — The Real Estate Play
- Median price: $499K
- CF multiple: 6.0x
- Listings: 5 (limited)
Ohio's small sample size makes it hard to draw conclusions, but a notable pattern: many listings include the building. If your long-term goal is owning commercial real estate, Ohio is worth a look.
Standout deal: Franklin County: $499K / $130K CF = 3.8x (includes real estate)
Illinois — Avoid Unless You're Local
- Median price: $625K
- CF multiple: 6.2x (worst)
- Listings: 14
The uncomfortable truth: Illinois (really, Chicago) has the worst value proposition in our data. You're paying New York prices without New York returns. The 6.2x median CF multiple means longer payback periods than any other market.
When it makes sense: Only if you already live in Chicago and the local knowledge advantage offsets the premium. Otherwise, look elsewhere.
The Value Matrix
| If you want... | Buy in... |
|---|---|
| Best cash-on-cash returns | New York (outer boroughs) |
| Lowest capital required | Georgia |
| Most listings to choose from | New York or California |
| To own the real estate | Ohio or Pennsylvania |
| Mature market, professional brokers | California |
| To avoid | Illinois |
Where Are the Unicorn Deals?
The best opportunities we found (under 3x CF multiple):
| Price | Cash Flow | Multiple | Location |
|---|---|---|---|
| $125K | $96K | 1.3x | Riverside, CA |
| $140K | $108K | 1.3x | Smyrna, GA |
| $269K | $176K | 1.5x | Los Angeles, CA |
| $90K | $58K | 1.6x | Delaware County, PA |
| $200K | $81K | 2.5x | Kings County, NY |
| $106K | $37K | 2.8x | Bronx, NY |
Notice the pattern? The best deals aren't clustered in the cheapest market. They're scattered across all markets — you just have to know what to look for.
The Bottom Line
If you're flexible on location:
- Start searching in New York's outer boroughs (best returns)
- Check Georgia for lower entry points
- California if you want options and don't mind higher operating costs
- Skip Illinois unless you live there
If you're not flexible: Focus on finding the best deal in your local market. Every market has outliers — the key is recognizing them.
Next Steps
- Analyze markets in top states — Get specific data for your target cities and regions
- Compare deals across states — See how different state conditions affect profitability
- Calculate state-by-state ROI — Compare realistic returns across different markets
- Find brokers in target states — Connect with local agents in your preferred markets
Data: 223 BizBuySell listings across CA, NY, TX, FL, IL, GA, PA, OH, AZ. February 2026. Analysis by PassiveMats.