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Old 06-03-2012, 12:19 PM
 
3,353 posts, read 6,442,185 times
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Hello all, as you may assume I'm from Baltimore but I currently reside in North Carolina. I'm currently enrolled in school for architecture so I find large cities rather appealing, I've visited Chicago many times and I really enjoy it. To get to the point, what's a decent income to live in Chicago? I don't want to just get by if and when I move there and I would love to live in any neighborhood not far from the lake so I'm guessing it will be a higher cost of living compared to other areas.

I've lived in D.C. (specifically Montgomery County, MD) at one point so that's the most expensive city I've lived in, so is Chicago more expensive than the DC metro? Hypothetically would a income of $75,000 for a single be decent there? I'm the type of guy who does like to visit Museums, take the metro, enjoy sports games, go to jazz lounges maybe 6 times a year, and I shop quite a bit so would I be able to splurge with $75k a year every once in a while? I would be interested in a rental because I don't plan on living in Chicago for a long time (maybe 5 years-10). So I hope this information helps in a way in you telling me if I would swim or drown in Chicago.

Thank you and have a nice day.

SN: I would like to move there in 2 years, so I have time. And for the most part this is all hypothetical, I know better than to move without having a job/occupation.
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Old 06-03-2012, 12:45 PM
 
103 posts, read 225,296 times
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75k is enough for a single male to live very nicely in Chicago. I am a 24 year old single male currently making around 50k and I live very comfortably in a nice 1 bedroom apartment by the lake, go out regularly, buy nice things and still have a good chunk i am able to save.
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Old 06-03-2012, 01:07 PM
 
Location: Chicago
1,953 posts, read 4,961,922 times
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As long as you dont have a ton of debt your paying down, 75k should be plenty. What type of an apartment did you want? To be by the lake, you can either live in very trendy and expensive neighborhoods (gold coast, lakeview, ect), or go further North and live in a place like Rogers park, which would probably save yourself 30-40% in rent.
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Old 06-03-2012, 01:12 PM
 
3,353 posts, read 6,442,185 times
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Thanks for the replies, I'm glad to here the replies.

But I wouldn't mind living in Rogers Park, I don't want to live in the most expensive areas of The City but I don't want to be too far out. How car dependent are those neighborhoods along the lake that you mentioned?
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Old 06-03-2012, 01:28 PM
 
Location: Chicago
1,953 posts, read 4,961,922 times
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Quote:
Originally Posted by BMOREBOY View Post
Thanks for the replies, I'm glad to here the replies.

But I wouldn't mind living in Rogers Park, I don't want to live in the most expensive areas of The City but I don't want to be too far out. How car dependent are those neighborhoods along the lake that you mentioned?
You dont want to own a car in Lakeview or the goldcoast. Parking is a pain and if you got an off street spot you would have to lay down 200 a month. Rogers park is easier to park, and spots are less expensive, but by no means do you 'need'. RP is further away from most of the action, so I would make sure you look up your commute before signing a lease. Probably best idea to look for places within walking distance of the red line
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Old 06-03-2012, 01:43 PM
 
Location: South Suburbs of Chicago
300 posts, read 639,334 times
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It depends where you live, you may need less of a income you need in Beverly than you need in Hyde Park on Lincoln Park. Also..Let me say this, buying a car if you live in the City is a stupid move unless you go out of town alot.
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Old 06-03-2012, 01:43 PM
 
1,302 posts, read 1,951,861 times
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Chicago is significantly less expensive than DC, and a much better city IMO.
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Old 06-03-2012, 01:44 PM
 
Location: South Suburbs of Chicago
300 posts, read 639,334 times
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Default .

Quote:
Originally Posted by JuanTheman88 View Post
75k is enough for a single male to live very nicely in Chicago. I am a 24 year old single male currently making around 50k and I live very comfortably in a nice 1 bedroom apartment by the lake, go out regularly, buy nice things and still have a good chunk i am able to save.

So..Do you think I'd be able to make it on 35,000 to 45?
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Old 06-03-2012, 01:45 PM
 
Location: South Suburbs of Chicago
300 posts, read 639,334 times
Reputation: 221
Quote:
Originally Posted by BMOREBOY View Post
Thanks for the replies, I'm glad to here the replies.

But I wouldn't mind living in Rogers Park, I don't want to live in the most expensive areas of The City but I don't want to be too far out. How car dependent are those neighborhoods along the lake that you mentioned?

How does Beverly, Bronzeville,Kenwood, or Hyde Park sound? They are kinda out south, but I know people who make around 40,000 who do good over there
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Old 06-03-2012, 02:17 PM
 
3,353 posts, read 6,442,185 times
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I'm not familiar with most of the names of neighborhoods there but I've probably been to them. Could any of you eloborate on Hyde Park in regards of how the rent is? I want a 1-2 bedroom, one bath apartment/condominium and if I'm making $75k a year I wouldn't mind paying $1,200-1,400 per month for a decent pad that isn't far from a major transit line. And most likely I will still have a car because when my mother visits me I do not want us riding on public transit, but I don't plan on driving it much.

And when you say south, do you mean the notorious south side Chicago? If I grew in Chicago maybe that wouldn't be too bad because I'm migrating there, I will avoid rough areas at all cost.
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