Relocation worries..Average monthly expenditure in Chicago..Pls help (Downers Grove: apartment, rent)

[bikram]

Hi all,

Requesting all expert broaders in this forum to guide me as I am currently evaluating a job relocation offer for moving to Chicago(Lombard) with my wife. We both are in our early 30s and currently I have 6 years work experience in my field of work. Also pls also note that we're expecting our first kid to be born within next few months.

Now as per the main terms of the contract; the company is offering me 50K annual salary + car with gas/ insurance + housing ( Rent to be paid by company but utilities bill I have to bear) + Medical insurance for both self and wife. Though it's still in negotiation stage; i think this's the best offer which they can make for this job. Could anybody pls guide me on average level of monthly expenditure for living in a suburbs city in Chicago? Considering I have to bear income tax liability out of my salary; is the offer as mentioned above worth taking for relocating to a new country?
Would really appreciate if somebody could guide me in this matter.

Looking forward for some positive response,

regards,BIK

[chitown85]

$50K is a pretty good salary when you don't have to pay housing expenses or car expenses. Pretty much you will take home $3300 a month after taxes. It's hard to say what it will cost you to live here. It's really not what you make, it's what you spend. If you think you can buy food, miscelleanous expenses, and entertainment on that money, then go for it! Plus if your wife can get a part time job.

[MannheimMadman]

Aren't transportation and housing the biggest two pieces of one's budget anyhow?

Barring a wicked addiction to blow, you'll be ok. Many, many people make do with less.

[chicagojlo]

Are they also taking care of your visa/green card? Some of the contracting firms that bring people over on these deals also make you pay a lot of that, even though it's not allowed. Be careful. And if you are coming on a H1B your wife will not be allowed to work although she will be allowed to get a license and drive. You could live on this amount but you won't be living the high life. Do they have guidelines as to how much rent will be paid and what type of car and insurance will be allowed? Those are also things to check on.

[TempesT68]

Lombard is one of the more reasonable towns to live in, with your salary and benefits, i don't see any problem with you pulling it off.

[chet everett]

It is true that the Chicago region is among the more costly parts of the US to live in, but if housing is covered that really makes things much more tolerable.

There are many frilly pleasant apartment near Lombard that would make for an easy commute. Lombard itself is centrally located. One can get to most parts of the region with a drive of under an hour for all but the most horrendous traffic conditions. If the employer is going to supply a car that should also be a nice plus.


With a baby on the way it is good to consider that there are vey good healthcare facilities near by. In Downwrs Grove the main hospital is Good Samaritan. To the east there is Elmhurst Hospital and to the west Central DuPage Hospital.

High quality preschools and daycare is also available nearby.

For culture / entertainment there are many resturants in and around Lombard. A nice mix of people that have been long time residents of DuPage Co, folks that have relocated from Chicago, a broad range of folks from Asia and eastern countries too. Ethnic groceries are common.

Train service is avaiable from central Lombard to Chicago, however most of the employment centers in Lombard are not close to the commuter rail stations. It is technically possible to rely on buses to link to the trains in Lombard or Downers Grove, though rather impractical.

For many fields requiring a college degree and/ or specialized training, an employee with six years of salary would probably be expecting more than the amount cited, but the perks of car and housing would not be on the table...

[tsdobbi]

Does your wife work? I make 50 grand a year only support myself, if my rent was paid that would damn near equal total financial freedom for me. I live in westmont.

if your wife works too I wouldnt even be worrying period.

[jlawrence01]

Originally Posted by bikram

Now as per the main terms of the contract; the company is offering me 50K annual salary + car with gas/ insurance + housing ( Rent to be paid by company but utilities bill I have to bear) + Medical insurance for both self and wife.

You should have no problems living on $50k under those circumstances. In my opinion, you would be making roughly the equivalent of $75,000 with the housing and vehicle benefits/

HOWEVER, you WILL be taxed on the value of the housing and the vehicle expenses. Consult with a tax professional.