Difference between 25k and 35k a year (Chicago, Lincoln: apartments, rent)

[celim]

I'm a recent college grad moving to Chicago. Currently, I have a for sure job offer that pays 25k a year before taxes. I am debating whether to wait to hear back from a slew of other companies that will pay me 35k before taxes if they decide to offer me a position.

My question is, if I want to live without roommates in the typical recent grad neighborhoods of lakeview/wickerpark/wrigleyville, how large of a difference in quality of life will that 10k make? Before you criticize without advice, I have done some basic budgeting and looked at some apartments on craigslist, but the craigslist ads rarely have images and even if they do, are most likely misleading about the state of the apartment.

I will not have a car, and will be commuting downtown by CTA. I do not drink, but do like to go out to eat once in a while. Television is not essential, although internet is. Moving costs are not an issue, as I have family an hour away.

Thanks for your time.

[surlycue]

Maybe I'm jaded by my highfaluting 45K p/y but I think you are going to have a tough time getting by in the city on 25K before taxes. You will definitely need a couple of roommates for sure to even begin to live comfortably.

I would not consider Lincoln Park or East Lakeview. You are going to stretching yourself very thin. If you'll have an unlimited CTA pass, why not live in Avondale, Albany Park, Bridgeport, Pilsen or any number of neighborhoods with more reasonable rents and living expenses?

[Chi-town Native]

yeah, what she said. you can do it, but roommates will be a must, there's just no way you'll be happy on the pittance you'll have left after food & essentials.

the difference $10K (call it maybe $6K after taxes) will make is $500 a month, which is the difference between a decent apartment and a flea hotel.

[celim]

A friend of mine who is a grad student lives on 24k a year. I do not know if he is exempt from taxes but he found a studio apartment in wicker park for 700 and although he isn't flying high he is living reasonably ok for our age. Is this typical?

And would 35k before taxes then be a reasonable level of living in the areas I mentioned? Reasonable being no car, out to eat on weekends, have internet, studio apartment situation.

[eevee]

last year, between my two part time jobs (<26 hours/week), I made around 11K after taxes. living w/ roommates in a so-so area of Chicago (east Humboldt Park) and being a somewhat frugal person (shop at Aldi's and thrift stores but been known to spend money on tech and books), it was just enough, though it didn't leave me w/ much cash for savings (don't think I ever had more than a month's worth of rent in savings). thankfully, most of my night out were at clubs and bars w/ no cover charge or where friends and I could get free drinks, otherwise, that could have easily tacked on an extra $100/month (of course, it doesn't hurt if you're female and can work your charms to get said free drinks if you're a guy, good luck and sorry).

at barely double the amount w/ the same lifestyle, I could find a decent 1 bedroom apartment in my area and put money away into savings, but it would still be tight. I'd still have to live frugally and I wouldn't even bother w/ apartments in the areas you listed. the same lifestyle at $35K would be very comfortable and net me enough saving to make at least buying a condo a fair possibility down the line. YMMV of course, and it all depends on your lifestyle. if you party and eat out more, ether take advantage of discount nights or other discounts. if you drive, don't-ditch the car and ride the train.

[grapico]

I wouldn't do it, even at 35k I still had a roommate...

[It'sAutomatic]

It depends on how much you value quality/space in an apartment.

You could afford it comfortably in Lakeview but probably not Wicker Park proper. They have relatively cheap studios in that neighborhood ($700ish), while WP doesn't have many one-person units, therefore they come at a higher cost. You'd live in a small space, but you could do it.

There are some other less snazzy but up-and-coming neighborhoods near those that are more affordable, where you'll have more space at a lower price. I'm thinking Uptown, Edgewater, Humboldt Park, Noble Square/West Town.

You'll fine. I think someone would have to be a complete idiot to go broke or live in a dump on a $35,000 salary in this city.

[Jandur]

25k you'll be stretched thing, but I know friends that have done it. 35k is much more reasonable, I know plenty of people that live off that.

Take the 25k job, and if you get one of the 35k jobs, back out.

Terrible I know, but at that end of the pay scale, 10k is like a 40% increase.

[NYrules]

Originally Posted by celim

I'm a recent college grad moving to Chicago. Currently, I have a for sure job offer that pays 25k a year before taxes. I am debating whether to wait to hear back from a slew of other companies that will pay me 35k before taxes if they decide to offer me a position.

My question is, if I want to live without roommates in the typical recent grad neighborhoods of lakeview/wickerpark/wrigleyville, how large of a difference in quality of life will that 10k make? Before you criticize without advice, I have done some basic budgeting and looked at some apartments on craigslist, but the craigslist ads rarely have images and even if they do, are most likely misleading about the state of the apartment.

I will not have a car, and will be commuting downtown by CTA. I do not drink, but do like to go out to eat once in a while. Television is not essential, although internet is. Moving costs are not an issue, as I have family an hour away.

Thanks for your time.

You won't make it in Chicago on that without either living at home with mom and dad, or getting at least one roommate, or moving into the old Polish woman's basement like Harrison Ford did on "The Fugitive". Sorry to burst your bubble.

[aragx6]

I think 25K would be really really hard. That's not to say it couldn't be done, but if you can't afford to do any of the amazing stuff in Chicago, what's the point of living there?