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02-23-2009, 10:30 AM
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Senior Member
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Join Date: Oct 2008
Location: Chicagoland
155 posts, read 72,669 times
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Reasonable Apt Rent??
Im moving to Chicago in the summer, and will have to get my first apt. I am curious in regard to what a reasonable rent price is. So far I have seen some apts in Northriver that were about 1300 a month with nearly every utility included. Is this common with the utilities being included? What is an ideal location for a 22 year old, male?
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02-23-2009, 10:38 AM
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Senior Member
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Join Date: Mar 2008
Location: Chicago
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It all depends where you want to live, in "safe" neighborhoods Id say rents would start at around $700 and go up from there. If you can spend $1300 on rent a month you would have no problem finding a decent apartment.
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02-23-2009, 10:40 AM
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Senior Member
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Join Date: May 2007
Location: Chicago
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A reasonable apartment would be paying about 1/3 of your net monthly pay on rent.
Once you figure that out, then you should go about finding your ideal place. $1300 sounds about right for Northriver. You can find much cheaper rents in other desirable areas for your age, including Viewlake and Centernorth - even Park Lincoln!
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02-23-2009, 10:42 AM
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Join Date: May 2007
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Hamiltonra25. Check out the very first thread of this forum as it is designed to help understand the various neighborhoods.
It will depend upon where you plan to work. If you are planning to work downtown I would suggest Lakeview (tons of people in their 20's) or Wicker Park. All depends on your commute.
Good luck.
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02-23-2009, 10:43 AM
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Join Date: Jan 2009
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The perfect price is $872.30 for a 1.3 BR and the perfect location is 420 W. Weed St.
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02-23-2009, 11:42 AM
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Senior Member
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Join Date: May 2007
576 posts, read 397,398 times
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My analysis actually targets $874.21 as the perfect price with the ideal location being 420 "East" Belmont Ave.
For some reason we differ by about 2 bucks on the ideal rent..
Last edited by soulful; 02-23-2009 at 12:56 PM..
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02-23-2009, 01:17 PM
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Senior Member
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Join Date: Oct 2008
Location: Chicagoland
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Did you discount it back to present value....always a hilarious question from finance profs. Anyway yes i plan on working downtown, and will check out soufuls thread. Just curious to see what is out there and what is normal. Time to leave the nest (in the burbs with rents) and head to the city, should make for an interesting summer
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02-23-2009, 04:31 PM
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Join Date: Mar 2008
Location: Fort Lauderdale, FL
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As a 26 YO Male
Here is what I recommend and my experience:
Recommend - Preppy, Yuppie - Lakeview or Lincoln Park. I live in Lakeview and I love it. Definitely stay closer to the water. If you are driving/parking a car, have fun with that. If you like "Funky/Gentrification" and need close access to 90/94, I would suggest Wicker Park/Bucktown. It's not my cup of tea, but a lot of people like it.
Your rent will vary, but expect to pay at least 700 for a studio and 1000 for a 1BR. I paid 1185 for my first apt, a dumpy vintage in Lakeview with no Dishwasher or W/D in-unit. I now pay 10 bucks more a month, a half-mile away, and have a modern rehabbed unit with all of those amenities. It's definitely worth the extra money!
Good Luck in your move to the city...I have good friends from the suburbs that live here now, and they would never consider moving back to suburbia ever.
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02-23-2009, 04:42 PM
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Senior Member
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Join Date: Oct 2008
Location: Chicagoland
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Yea thats another thing that I have to figure out, my car. I have a car easy payments i was thinking after i graduate in may i would like to get a new car, but after reading a lot of posts. It seems having a car in the city is not worth the hassle. As for where I would like to live i probably fall into your first category. Im going to look around at lakeview as someone else mentioned that. Now i just need my finance degree to get me a job in this great city
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02-23-2009, 05:25 PM
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Senior Member
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Join Date: Mar 2008
Location: Chicago
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Quote:
Originally Posted by hamiltonra25
Yea thats another thing that I have to figure out, my car. I have a car easy payments i was thinking after i graduate in may i would like to get a new car, but after reading a lot of posts. It seems having a car in the city is not worth the hassle. As for where I would like to live i probably fall into your first category. Im going to look around at lakeview as someone else mentioned that. Now i just need my finance degree to get me a job in this great city
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I bought a new car before I moved to the city and hate myself for it. I would much rather have a very simple car that I dont care if it gets scratched or bumped into. 9 times out of 10 when I go out I dont drive so its pretty pointless IMO. The only way I would get a nice car is if I had to much money to spend on other things and I had a garage. |
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