Can I Live on $30,000? (Chicago, Des Plaines: apartment, house, neighborhoods)

[suite1718]

I was recently offered a job in Des Plaines, with a starting salary of $30,000. Basically, the pay increases greatly after your first year, but obviously I've got to work with this for my first year on the job.

Networking is big in this job, and fellow employees live in the Lincoln Park area. Can I realistically live on this if I'm living alone in the LP area?

Thanks.

[j33]

Not if you have a car payment or any other debts. If you want to live in LP on that salary, you'll be living in a closet or with roommates. What sort of job is this anyway? And what type of 'networking" is required here? That can get expensive if work doesn't pay for it.

[suite1718]

IT staffing. Things are covered by the company in the networking respect, but thats only on work hours. All living expenses are mine, and $30,000 seems pretty sparse to me.

Anyway, after working in that position for 6-9 months, a promotion to account manager would give a much, much larger commission scale (the one for entry level in negligible) that usually ends up at around $100,000/yr.

I'd like the chance at living in this area of Chicago, just not sure its realistic with that amount of cash.

[j33]

You can easily live on 30k in Chicago if you are careful about it and don't have debt, that is not the question (I've lived here on less before). But if you are young and wanting to live that whole "Lincoln Park lifestyle', then you'll have a hard time, especially if you have a car that you are trying to maintain and drive out to the burbs all the time for work.

Back when I was living on less than 20k a year (when I was younger and rents were cheaper), I didn't' have a car, I had a roommate and I didn't have much in the way of bills (and didn't live in Lincoln Park and lived very frugally).

On 30k a year, you wouldn't be able to afford much more than about 650 a month (especially with a car), which, if you are lucky, will get you a studio in your neighborhood of choice. Now, if you look at other neighborhoods, or are open to a roommate, you'll be fine, but you will have to settle as it is pretty hard to get an apartment for that little in most neighborhoods, but it is doable.

[BRU67]

Originally Posted by suite1718

I was recently offered a job in Des Plaines, with a starting salary of $30,000. Basically, the pay increases greatly after your first year, but obviously I've got to work with this for my first year on the job.

Networking is big in this job, and fellow employees live in the Lincoln Park area. Can I realistically live on this if I'm living alone in the LP area?

Thanks.

Going with the 30% of income on housing formula, you should spend $750/month on an apartment. That would get you something in LP, especially with roommates. Question is, do you want to subject yourself to that kind of commute? And the "networking" in LP is going to consist of going to bars, drinking, and depleting that $30k like a tank of Sunoco in a Lincoln Navigator. You've got to do what you've got to do but you can spend $100 at the bars around here so fast that if you blink, you'll miss it.

[suite1718]

Originally Posted by BRU67

Going with the 30% of income on housing formula, you should spend $750/month on an apartment. That would get you something in LP, especially with roommates. Question is, do you want to subject yourself to that kind of commute? And the "networking" in LP is going to consist of going to bars, drinking, and depleting that $30k like a tank of Sunoco in a Lincoln Navigator. You've got to do what you've got to do but you can spend $100 at the bars around here so fast that if you blink, you'll miss it.

Ha funny you say that, I came to visit for St. Patty's day and managed to rack up a $100 bar tab in about 15 minutes. Basically, my concern is being able to afford living in the area. Beyond that, I'm pretty good at budgeting, as I had to do that throughout college.

I really apprectiate the responses because I have no idea what types of hidden expenses Chicago holds. Every city I've lived in so far has many of them, so I'm sure Chicago is no different.

[BRU67]

Originally Posted by suite1718

Ha funny you say that, I came to visit for St. Patty's day and managed to rack up a $100 bar tab in about 15 minutes. Basically, my concern is being able to afford living in the area. Beyond that, I'm pretty good at budgeting, as I had to do that throughout college.

I really apprectiate the responses because I have no idea what types of hidden expenses Chicago holds. Every city I've lived in so far has many of them, so I'm sure Chicago is no different.

15 minutes?? You'll have to let me know how you did that, because I can barely go 10

[chitownabs]

What networking are you speaking of? Seriously. Why do you need to live near your clients to network?

And yes, you can live in Chicago for $30k. Your take home will probably be like $24k after taxes, and you could probably afford like $600 a month. You would be a lot better off find a roommate or two and living it up in a nicer place for the same amount.

[Frank the Tank]

There are places in Chicago that you can get by on $30,000 per year, but Lincoln Park definitely isn't one of them if you're going it alone. Outside of the Gold Coast/Michigan Avenue area, Lincoln Park is the most expensive neighborhood in the city. If you split the costs between roommates, it may be possible to find housing that will suit your salary. However, as some others have mentioned, if you want to take advantage of the "networking" opportunities with the nightlife, your money can go quick. That being said, there aren't too many neighborhoods in the country, much less the city of Chicago alone, where it's as much fun to be a young person than Lincoln Park and the North Side of Chicago. You might want to look into Lakeview, where you can get a little bit more for your money (but not much) yet still have proximity to the lake and nightlife. Again, roommates or a studio will probably be necessary in your salary range.

I'd also suggest Roscoe Village (where I lived before succumbing to a house in the suburbs) which is the neighborhood adjacent to the west side of Lakeview. You can get slightly more space for your money compared to Lakeview (once again, this is relative, since Roscoe Village is still an expensive area) but it's still pretty close to the nightlife (20 minute walk to Wrigleyville and a short cab ride or a couple of El stops to Lincoln Park). It should be noted that the vibe in Roscoe Village is slightly older (late-20s and early 30s) compared to the more post-collegiate feel in Lakeview and, to a lesser extent, Lincoln Park.

[j33]

Originally Posted by BRU67

15 minutes?? You'll have to let me know how you did that, because I can barely go 10

You people are simply going to the wrong bars