What do YOU think is middle class income in Chicago? (Lincoln: apartment, leasing)

[ChicagoMeO]

Yes having two cars vs having a nicer, bigger apartment is the price you pay. Insurance might be higher because of their age.

also living in Logan Square is probably considered a higher rent area because it is considered "trendy".

Even though the girlfriend's parents pay the $200 for her, that still does not make up for the car expenses (not sure if they have a car payment too).

I understand about having one car, but two? Heck, i saved a ton of money when i sold my car, then rented a car for when i wanted to go out of town, cost $100 but was a heck of a lot cheaper than the expenses of my own car.

You can live cheaper I notice where it is not as convenient to the El for some reason, ie.. Peterson Park area of the city which is (I think) on Peterson and maybe 3200 west. There are some very nice but inexpensive apartments there, but it would take longer to get to the El. its also pretty cheap and nice in Norwood Park, also Elk Grove Village and Carol Stream are inexpensive but you NEED a car to get to the Metra. What I have found is when you live in a not-trendy area, rents are cheaper. This is just from perusing Craiglist. But you can also walk around and probably see for rent signs in buildings that are not advertised online.

rent can be cheaper for less amenities in the building, like living in a walkup 2-flat, or even the top floor of a 4 store walk up and not having a washer dryer in your apartment, and actually in Lakeview, living in a 4-plus-one building is cheaper than living in one by Lake Shore Drive, but some of the old buildings allege to have bugs rampant. Actually the 4-plus-ones along in Edgewater and Buena Park along Broadway can be cheaper, but maybe the neighborhood is not what you want.

You cant have everything. Decide what is most important. People live in smaller places until they can work more or work at a better paying job, but thats what life is all about when you are young and have your whole life ahead of you to make the decisions to be able to earn more money, even if its eating Ramen soup to be able to afford your two-car lifestyle in a nice apartment in a nice neighborhood. (or a one-car household with a real sweet brownstone apartment with 1200 feet) but you cook your own food rather than eat out a lot and party and have to throw down $$$ for $10 cocktails plus tips and cover charge.

[marothisu]

Originally Posted by Chicago87

I have many friends in their mid to late 20s that earn $45,000 to $65,000+ a year. The people earning $60,000+ say they feel middle class, but the people earning less than $60,000 say do not. Based on that, the middle class salary for a single individual that is in their 20s in Chicago with minimal debt and other responsibilities appears to be $60,000.

It all depends on your level of debt, spending habits, how much you pay in rent/mortgage, etc. My last girlfriend made just under $40,000/year but had no debt, got rid of her car, and didn't have ridiculous spending habits. She lived in a 2 bedroom in Lakeview East and was very comfortable - never asked me for money and was actually a very independent person and didn't like when people paid for her all the time - so at least 40% of the time she'd actually want to pay for her own meal (good deal for me!). Her parents are multi-millionaires, but I don't think she was asking them for assistance - not like her to do that.

It all depends on multiple factors but it's possible - of course there's tradeoffs, but you could live decently if you don't have too much debt or responsibility (i.e. a kid) at that level of income

[jman07]

Household 100k+
Single 40+

[Bucktownbabe]

Originally Posted by romnation

Just curious as to what everyone would consider a middle class income in this city. I make 35k and my girlfriend makes around 20k, (which is obviously a lot less after taxes), this would supposedly put us in the middle class, with Chicago's median household income at at around $43,000. We still struggle many months living in this city when random stuff comes up such as car repair. We find that we aren't able to enjoy the countless city amenities as much as we'd like to due to lack of funds. We definitely don't really feel middle class, we feel quite poor sometimes, especially having both moved from cheap Indiana. Our apt is $1150 a month, utilities included in Logan Square, but with things like $200 a month car insurance everything starts to add up real quickly.

I'd say $55K for two people in Chicago is middle class, but definitely at the lower end of it. I would not pay $1150/mo. in rent on that kind of income unless it was a temporary situation. (If it was $55K for one person I might, but not for two.)

I don't understand why your auto insurance is that much per month. Mine is something like $60 a month with comprehensive coverage (albeit not on an expensive car) and a low deductible. You must have a really expensive car, more than one car, or a bad driving record.

If I were you I would either move to a cheaper place or get rid of the car. People pay a premium to live near El stops (particularly along the Red and Blue lines) in part because it allows them to live car-free.

[Bucktownbabe]

Originally Posted by romnation

Not really because then we couldn't take any weekend trips home to see our families or nature getaways.

Depending on how often you take trips home or nature getaways, it might be cheaper to rent a car for those things than to own one.

[Bucktownbabe]

Originally Posted by romnation

A car each, she gets her car insurance paid for by her mom, I pay mine myself. No car payments. and yes, we're young, I'm 23, freshly out of college, she's 21 and still in college.

Jesus-- you have TWO cars while living in Logan Square on an income of $27,500 each? Uhh, yeah, no wonder you don't feel middle class. You're not going to unless you get rid of a car or two, move to a more affordable neighborhood, or make more money. It sounds like your income level is probably temporary given your ages and education status, though, so that's the good news.

Your age helps explain your high auto insurance rate, by the way, but I still don't understand why it's quite THAT high unless you have a bad driving record or are paying for comprehensive on an expensive car. I would shop around for a lower insurance rate and/or get a cheaper car.

[nap1313]

If your GF is in college, does she get U Pass through her school? That can really help out a lot.

I'm going to echo everyone's comments and say two cars is completely unnecessary unless you absolutely need it to commute to a job that have no options for getting there on public transit.

My husband and I do extremely well, are in our mid to late 30s with a baby, and still only live with one car. Unless you have extenuating circumstances, you can absolutely make due with one vehicle.

[sketch125]

The fact that your combined income is limiting your lifestyle and has you feeling lower middle class has a lot to do with the fact that you are recent transplants. No judgments here, I was once in your exact position.

I moved from MI, thought I had to live in Lincoln Park, held on to my car, and tried to live the city life. After sometime, I realized that I was surrounded by transplants in the same financial situation. Through work, I met people who had lived in Chicago their entire lives that possessed a knowledge and support network which allowed them to live here for a lot less than then a transplant.

People take care of their own in Chicago, which means that typically the best quality / lower rent / safe apartments (usually not in the “trendy” neighborhoods) never hit the open market. They are offered to friends and family first. Another kicker is that when it comes to obtaining employment – who you know is a big factor. Lifelong residents also have an extended knowledge of their neighborhoods. They know where to park, buy groceries, fuel their cars, eat dinner, have beers, and do laundry all for less $$$.

When I decided I was willing to explore other areas and move to the near south, I found an updated 2bd room with hardwood floors, large patio, big windows, modern heat, central AC, and very safe for $850.00. Street parking all day, and 3-4 blocks from the 33rd St. entrance to SOX-35TH redline. This place wasn’t on craigslist or in any newspapers. It was found by word of mouth through a work friend.

It may take some time to grow your network enough to be included in these opportunities, but if you were willing to put in the effort a move like this along with dropping your car would free up $500 a month. This would be significant considering your income.

[Larry Siegel]

This discussion confuses middle income and middle class. Class is determined by attitudes, plans for the future, education, habits, and affiliations (who your family, friends, and colleagues are). The OPs are living very well for being in their early 20s and are definitely middle class without really being middle income. Middle income for a couple in Chicago starts around $75,000 - and I don't mean *median* income! The median includes a lot of people who are very poor, either temporarily or permanently.

[ChiGuy2.5]

I see middle class as being able to live comfortably and still afford to contribute some money towards retirement. In order to do those things and live in Chicago proper you need to make at least $80K for a couple. A full family of four would not be middle class on this income IMO.

I make $81K as a single adult and still can't afford to live in my own 1 bedroom place in a nice area comfortably. I would be a slave to my mortgage, or rent if I did. I would guess $100K would definitely be middle class. Lower class definitely starts around $50K. Anything between $50K-$100K is open to interpretation depending on your family size and personal opinion on what middle/lower class is.