Is Chicago Expensive Like New York Also? (sales, apartment)

[saadrajabali]

is chicago also really overpriced like new york or is it just an exaggeration?

[oakparkdude]

No, compared to NYC, you will find your rental dollar will go much, much further. You can get a brand new construction one bed room apartment in the BEST part of town for about 2K/month. You can easily find large vintage 1 bedrooms in decent parts of town for 1K/month.

[Mel2882]

I can't remember what the website is called, but it calculates and compares costs to different cities. It says that NYC is 53% more expensive than Chicago. And even if that's off a little bit, that's a pretty big difference.

[Drover]

Definitely an exaggeration. Chicago is easily the best bargain for a major city: cheaper than NYC, San Fran, Boston and L.A. The closest cost-of-living comparison on the East coast would be Philadelphia. Housing here is a little more expensive on average here than in Philly, but you get twice the city, literally and in many ways figuratively.

[reppin_the_847]

I have to agree with Drover on this one. The rent prices in Chicago neighborhoods seem to be about one third of the rent prices in comparable areas of NYC. Our cost of living is a lot more like that of Philly. If you have a strong preference for the East Coast culture (but also want the lower cost of living), and still need quick proximity to New York and the BosWash corridor via ground transportation then I'd recommend Philadelphia. If you are open to a very large, vibrant Midwestern metropolis that continues to grow, has an affordable cost of living, and has a very diverse economy (but has a bit slower pace than NYC keep in mind), then Chicago is it.

Originally Posted by Drover

Definitely an exaggeration. Chicago is easily the best bargain for a major city: cheaper than NYC, San Fran, Boston and L.A. The closest cost-of-living comparison on the East coast would be Philadelphia. Housing here is a little more expensive on average here than in Philly, but you get twice the city, literally and in many ways figuratively.

[untuchableface]

However, the sales tax in Chicago is sky rocket. I don't know what it is in NYC but they don't have sales tax in PA, making Philly, yet again, a bit more livable.

Not that you even asked about Philly... haha.

[Steve-o]

Taxes will smoke you here, as they do in other major cities. But yeah, like everyone else has said, your $ will take you alot further here in Chicago than the coastal cities. And besides NYC, Chicago offers more than any other city IMO. Its a well-kept "secret" if you ask me (but 3 million people are on to this "secret" as well).

[oakparkdude]

Compared to other desirable big cities, our tax burden is not so high.

Unlike Philly, there is no city income tax (4.61 percent for Philly residents, 4.01 percent for suburban commuters who work in Philly). State income tax rate of 3% is the same in PA and IL. NY income tax rate ranges from 4-6.85%, and California income tax rate ranges from 1-9.3%.

Although suburban property taxes are high, they're fairly low in the city of Chicago. So, the only really high tax around here is the sales tax.

[jessiegirl_98]

I would agree with everyone. If you are from a small town, people may think Chicago is super overpriced. Compared to NYC, it's the price of living in a small town :-) Think $1500 for a large 2 bedroom in a nice neighborhood of $2000 for a small studio where you can't open the front door if you have the bathroom door open....no comparison

[saadrajabali]

i see a lot of suggestions about moving to Philly but Philly has a LOT of crime and is more expensive than Chicago plus i like Chicago, and its vibe