Job offer...$29000/yr. Will I be strugglin in Chicago? (Addison: apartments, rentals)

[rudeboy86]

Im from Georgia and I just graduated from college. I was offered a position at a company in the city. I'll be making 29k(gross) the first year. I know this is not a lot but i have a little money on hand to make the move and get myself established, but will this salary be enough to keep things going? Im 24, male, and single and i wanna live IN THE CITY... A little help please...

[Avengerfire]

See this thread:

Difference between 25k and 35k a year

In fact, this thread can be merged into that thread.

[It'sAutomatic]

It can be done. You'll be limited to neighborhoods where a room can be had for $400-$600, but some of them are alright and in good locations. You would have to get a roommate unless you wanted to live in a studio on the far northern stretches of the red line (still not a bad choice).

[jamaicabound60565]

It can be done. Would be a lot easier if your open to having roomates. If you are check out craigslist or roomates.com. You can get a nicer place, better location and have more free money to enjoy what the city has to offer.

[Sbudsky]

Will it be a bit of a struggle? Maybe, but lots and lots of people do it... Since you're young and fresh out of college, I'm going to guess that you'd want to live in a young, hot area with lots of bars and restaurants? Your best bet, though, would be to live somewhere outside of Lakeview, Lincoln Park, River North,etc. and aim to live somewhere like Ravenswood or Uptown that is close to those areas, but way more affordable. That being said, I've known quite a few people who have managed to find decent places in Lakeview on a similar salary. There seems to be lots of cheap rentals between Broadway and Halsted, from Belmont north to Addison. Are you willing to have a roommate? Do you have parents who could co-sign a rental lease for you?

[soulful]

rudeboy86. I know lots of folks who make that level salary living right in the best parts of Lakeview (within a couple blocks of Lake Shore Dr). Check out studios in East Lakeview on Craigslist or the Chicago Reader http://classifieds.chicagoreader.com...hrase=&submit=. You can find them for under 600.00 a month (albeit small apartments

[Attrill]

If you don't need a car and have a roommate you'll be fine. Things would be tight w/a car and no roommate, but you could still get by.

[jdiddy]

What others said - don't have a car, live with roommates, you'll get by alright.

[grapico]

It can be done... and reading the forum and seeing some younger folks I know, it seems like a typical entry wage now. Seems to have decreased from the 35-42k range just 4-5 years ago to the 28-32 range...
Anybody else notice this?
Personally I am going back to school for a career change so living on even LESS than that with a roommate but have money saved up and loans/grants/etc.
When I started out I was making 36K, paying 550 a month rent, no car, no cable, and still went out pretty often to free/cheap and occasional splurge events, and I probably put away 8000- 9000 dollars first year. Your results may be different.
Personally I would drop the "non necessities" and you'll be fine... i.e. no car/no cable/and no iphone...
If I look back my only real bills then were
550 rent which covered gym membership and heat
20 for elec split
25 a month prepaid phone
15 a month split internet/phone

plus I walked like 10 blocks to work. I did the move from FL when I was 24 also.

I had another situation that was 450 a month rent and was just 2 jumps on the CTA into the loop.

I also second the Ravenswood/Lincoln Square/Uptown/SouthPort areas... I have been looking lately for a Sep 1 lease and it is generally 150-200 cheaper at the 1br range over East LP/Lower Lakeview
Also check out Uk Village/Bucktown/Wicker Park

You could certainly also do Edgewater/Rogers Park but I'm not sure the distance vs price and possible sketchiness ratio is really worth it.

I would say if you are smart about it you can be more than fine and actually put some money away (4-5k a year) on that salary.

[RedLineBlueLine]

I am a student and I make much less than that and I live alone in Logan Square comfortably in a one-bedroom. I think it depends on what neighborhood your looking at.