Moving to IL - is there any future? (Chicago, Naperville: homeowners insurance, salaries)

[Milwaukee City]

Originally Posted by UMN2BE

I am originally from the Chicago area (south suburbs) and have lived in MN for 10+ years now. Our office went 100% remote permanently and we are now allowed to work anywhere. My wife and I are thinking about moving back to the Chicagoland area, mostly to be closer to my family to help take care of our two-year old, as well as more job opportunities for my wife once she returns to work.

Literally every article I read about IL is doom and gloom

I will say this, I have had friends and a lot of friends move down there to chase the money and at first it seemed like they made a great choice. Now not so much as all of them are talking about leaving, it's not just the fact that IL is losing people faster than any other state it's also the increasing costs of living there. People even forget just how much more expensive gas and groceries and insuring you car is down there, little things that add up.

Gas up here in Wisconsin is 1.70 vs 2.30 down there, the parking fees the rising taxes and even more taxes coming down the pike and every year less and less more people to help foot the bill, snowball effect on taxes.

That all being said, family and friends are the most important things in life along with health. So it just maybe worth the added cost. Unless you can convince your whole family to move to IN or TN. In the end money isn't everything but it does make like easier.

[Liledgy]

Originally Posted by MSchemist80

Uh yes paying 10% of your income in property tax alone is ridiculous plus 5% income 8-10.5% sales fees utility taxes etc.

And it isn't just my perception. Illinois makes top 5 or even 1 for worst run state, highest tax burden per capita, worst business climate, and most residents moving out. That is nothing to brag about or even regard as acceptable.

I wasn’t aware property tax was based on income levels.

[MSchemist80]

Originally Posted by Liledgy

I wasn’t aware property tax was based on income levels.

Property taxes are based on home value which is roughly correlates with income level though some people with high incomes own homes below their means and some people are house poor (though mortgage acceptance puts some limits on that).

A middle class household earning $70k paying $7k on a $233k house (3% property tax rate) is pretty typical.

[Hiruko]

Originally Posted by MSchemist80

Property taxes are based on home value which is roughly correlates with income level though some people with high incomes own homes below their means and some people are house poor (though mortgage acceptance puts some limits on that).

A middle class household earning $70k paying $7k on a $233k house (3% property tax rate) is pretty typical.

@Liledgy and others seem to miss the fact that, in general, the wealthier the suburb the lower the property tax rate is in the Chicagoland area. Many south suburbs have effective property tax rates in excess of 5% of market value.

[civis]

Originally Posted by skeddy

Chicago will never be a world class city like Boston and New York. It just has a less sophisticated culture. It will be the first domino to fall when there's an economic collapse.

Come on, Boston is a fairly small provincial city, very expensive for what you get, very poor infrastructure, too much unsubstantiated elitism and tons of unjustified hype. There's nothing "world class" about it besides sky high prices.

Don't even get me started on NYC - same issues as Boston just worse, plus too much trash, stinky streets and shocking level of homelessness.

[mwj119]

Originally Posted by civis

Come on, Boston is a fairly small provincial city, very expensive for what you get, very poor infrastructure, too much unsubstantiated elitism and tons of unjustified hype. There's nothing "world class" about it besides sky high prices.

Don't even get me started on NYC - same issues as Boston just worse, plus too much trash, stinky streets and shocking level of homelessness.

Boston's MSA is pushing 5M people. It is, objectively, a leader in healthcare, education, bio, and tech. ~30% of Boston is foreign born. It is on every International ranking and index. It has some of the most coveted suburbs in North America. It has a network of the strongest private K-12 schools in US, and hosts arguably the strongest public school systems in the country. The area has sought after ocean front - Nantucket, Martha's Vineyard, Cape Cod front and center. Boston, the city of 700k, sees the same International tourism numbers as Chicago. So, you can dismiss it as a more regional center or a provincial city, but most don't.

And as a result, nobody should be surprised that Boston and Greater Boston are expensive.

NYC is a wagon. Brooklyn, in a silo, hosts almost the same population as Chicago. You could hate 80% of NYC, and even left with 20% of the city, it can stack up or outdo almost any other. But how anybody who likes the big city atmosphere could feel anything other than an affinity for areas like Park Slope, or West Village, or Greenwich Village, or SoHo, or Greenpoint, or Cobble Hill is beyond me.

Lower Manhattan is poetry in motion:
https://www.google.com/maps/@40.7249...7i16384!8i8192

https://www.google.com/maps/@40.7249...7i16384!8i8192

https://www.google.com/maps/@40.7362...7i16384!8i8192

https://www.google.com/maps/@40.7141...7i16384!8i8192

I saw your post in the Chicago Suburbs forum about how Naperville is a s*** hole. Something about "all that is left are cornfields". Sounds to me like you don't like Chicagoland, either.

So... What area do you like?

[mwj119]

Originally Posted by skeddy

Chicago will never be a world class city like Boston and New York. It just has a less sophisticated culture. It will be the first domino to fall when there's an economic collapse.

If the city of Boston is a world class city, then the city of Chicago makes the all-solar system team.

Chicago is a larger, more well rounded city than Boston. That's probably not changing in our lifetime.

[pantstofry]

Originally Posted by mwj119

Boston's MSA is pushing 5M people. It is, objectively, a leader in healthcare, education, bio, and tech. ~30% of Boston is foreign born. It is on every International ranking and index. It has some of the most coveted suburbs in North America. It has a network of the strongest private K-12 schools in US, and hosts arguably the strongest public school systems in the country. The area has sought after ocean front - Nantucket, Martha's Vineyard, Cape Cod front and center. Boston, the city of 700k, sees the same International tourism numbers as Chicago. So, you can dismiss it as a more regional center or a provincial city, but most don't.

And as a result, nobody should be surprised that Boston and Greater Boston are expensive.

NYC is a wagon. Brooklyn, in a silo, hosts almost the same population as Chicago. You could hate 80% of NYC, and even left with 20% of the city, it can stack up or outdo almost any other. But how anybody who likes the big city atmosphere could feel anything other than an affinity for areas like Park Slope, or West Village, or Greenwich Village, or SoHo, or Greenpoint, or Cobble Hill is beyond me.

Lower Manhattan is poetry in motion:
https://www.google.com/maps/@40.7249...7i16384!8i8192

https://www.google.com/maps/@40.7249...7i16384!8i8192

https://www.google.com/maps/@40.7362...7i16384!8i8192

https://www.google.com/maps/@40.7141...7i16384!8i8192

I saw your post in the Chicago Suburbs forum about how Naperville is a s*** hole. Something about "all that is left are cornfields". Sounds to me like you don't like Chicagoland, either.

So... What area do you like?

I agree that Boston can be overlooked, but it's expensive for a reason. I don't really vibe with the east coast at all, but that would probably be my pick if I had to live in the area. NYC doesn't appeal to me whatsoever. In those street views, only the 2nd one I found appealing. The first one just makes it seem crowded and disjointed, and the 3rd and 4th to me could just as easily be a street in Chicago.

But I digress - I moved away from my family in Chicago just to experience living somewhere new and to take a good job opportunity in Oregon. I pay higher income taxes than IL but lower property taxes. I'd like to move back home closer to family, but hearing friends and the tax bills on their houses is just crazy to me. I think there is a future in IL - at least I hope so. They really need to get the spending under control, but for many it's still worth it. In my case, I think my QoL would be best in an area where the income and property taxes are more moderate (doesn't need to be #1 in either, but not like #40-51 either).

[personone]

Originally Posted by skeddy

Chicago will never be a world class city like Boston and New York. It just has a less sophisticated culture. It will be the first domino to fall when there's an economic collapse.

Chicago is more worldly and cosmopolitan than Boston. Boston is not as sophisticated as Chicago. It is close, but Chicago beats out Boston. Although you are right about NY. It beats Chicago.

[Chicagoisthebest]

Naperville is a south west suburb.