Can a single person live off $32,500 in Chicago? (Lincoln, Irving: apartment, leasing)

[Mdvn]

Was offered a job in Chicago for $32,500/year. When I first started my job search, I was shooting for $40-42k/year so clearly I'm concerned about this surprisingly low offer post negotiation (initially was 30k). I've lived in Atlanta and Houston so I'm sort of aware of how far a dollar goes in larger cities but realistically, can a single woman live comfortably in Chicago on $32,500/yr? Ideally, I'd like to live in the safe neighborhoods in the area (Lincoln Park, Logan Square, Wicker Park, Edgewater, etc). Is that even possible with a monthly paycheck of 2,000 dollars?

I have school loans and your usual extra bills (car, phone, etc). I have a puppy and a cat to provide for.

It's with an awesome company but, I gotta live, you know? Looking for advice from people who are familiar with living in the Chicago area.

Thanks in advance.

[tclarke031]

Yes, you can live in Chicago with this income. I would suggest getting a roommate. My first roommate made $33k. He had student loans and car payments as well. Just need to be conservative with your money as it is easy to blow at restaurants and bars. If you are looking for most bang for your buck in a safe area, I would suggest Avondale, Edgewater, Jefferson Park

[pidgeon92]

At 28% gross pay, you want to stay under $760 per month in housing. I would agree with finding a roomate. A nice 2BR for $1400 per month is doable.

[nearnorth]

Can you live on that income? Yes. Can you live in the way that you appear to want to live (expensive neighborhood, car, etc.) on that income? No. Chicago is more expensive than Houston and Atlanta.

[marothisu]

It's possible but I think it depends on how much debt you pay per month(?) and your lifestyle. Also if you have any money saved up already.

Was the job you were offered located in the Loop/downtown or along public transit? Your best bet would be to go car free and use public transit and locate yourself in a walkable area. You wouldn't be driving to work anyway if you worked in the Loop, for example, so yeah. The unlimited monthly pass for public transit is $100/month and of course, you could possibly pay less per month.

Housing wise, the best bet is roommates. You COULD get a studio for say $700-$800/month in a good neighborhood, but it's not going to be close to luxury. It probably won't be TERRIBLE, but far from luxury. Old buildings and such. If you're open to having roommates, then having 1 or 2 would allow you to get a little nicer place.

If your take home is truly $2000 and you spend $800/month on rent, $200/month on debt, $100/month on public transit, $60/month for internet/tv, $50 for utilities, and $70/month for cell phone, that would leave you with $720/month for food and other stuff. If you spent $60/week on groceries and went out twice a week to eat or drink spending an average of $20 each time, then you'd probably have around $300/month left over. This isn't going to be an amazing lifestyle where you're going out every night - you'd have to be more conservative. However, if you were to move here with a few thousand in savings, then that would really help just ease your mind.



So the answer is yes, you can live here on that salary - I have friends who do or not much more than that, but it depends on how much debt you owe every week and you'd have to be more conservative, or be conservative for awhile while saving money first.

[marothisu]

Originally Posted by nearnorth

Can you live on that income? Yes. Can you live in the way that you appear to want to live (expensive neighborhood, car, etc.) on that income? No. Chicago is more expensive than Houston and Atlanta.

Not necessarily - that is if you cut out the car from your life, especially if you were leasing the car or something. People often forget to factor this into cost. For example, if you're paying $700/month in Houston and have a car which you're leasing for $300/month, with $50/month insurance and $100/month in gas - together that is $1150/month. Now consider a $1000/month apartment in Chicago with no car, but paying $100/month for unlimited public transit usage and you walk/train/bus it everywhere. You're actually paying $50/month more in Houston in this case and this situation is nowhere near out in left field. Note this isn't what I'm suggesting as a budget for the OP, just giving an example.

Luckily Chicago's own CNT has an index for this:
Welcome to The H+T Affordability Index

I would agree with you though that if you made $32K/year and wanted to live in Lincoln Park with a car - probably isn't going to work out too well unless you have some decent savings. However, I don't think the OP is looking for that. I think the neighborhoods she listed is just what she has heard is safe. Edgewater and Logan Square are not expensive neighborhoods on average (yes, they have their trendy spots but also cheap local things). There are other cheap but pretty safe neighborhoods of town, OP. Lincoln Square, North Center, Avondale, Bridgeport, Pilsen (usually...), Chinatown (aka Armour Square - if you can find anything), some parts of McKinley Park, Irving Park, parts of Albany Park, parts of Rogers Park, etc.

When my ex moved here, she got a 2 bedroom in Ravenswood/Lincoln Square/North Center paying $575/month for her share which was pretty amazing. Her salary was something like $36K/year so not much more than the OP's. Her friend lived in a 3 bedroom place in Irving Park paying $500/month for her share. The place was massive, actually. The kitchen was larger than my entire living room downtown. So if you're OK with roommates and you're okay with not living in a trendy neighborhood, but where you could access said trendy neighborhood through public transit, then it's possible to pay even less and live more comfortably.

If you paid $600/month for your share of rent in that case, $25/month for utilities, $30/month for internet/tv, $70/month for cell phone, $200/month for debt, and $100/month for public transit, that would leave you with $975/month for food and whatever else which is doable.

Here's an example of a place in Old Irving Park that is $1500/month total for a 3 bedroom/2 bath. Of course, finding roommates is another challenge, but if you did then this is in a quiet, but safe area. You're only paying $500/month for your share and while you aren't in a trendy neighborhood, you're near the Blue Line which allows you to get to trendy 'hoods like Logan Square or Wicker Park/Bucktown easily and pretty quickly. It also goes to the Loop so if you have a job there, your commute wouldn't be terrible. That line runs 24/7 too:
http://www.zillow.com/homedetails/40.../3647071_zpid/

[Lorielicious]

Yikes. You can exist, sure, but say goodbye to your super trendy neighborhoods of choice, unless you get a roommate. And with $32k, your take-home will be less than $2,000, just so you know. You can find a decent small apartment in for $750/mo or so in a lot of neighborhoods (Irving Park, parts of Uptown, Albany Park, e.g.) and depending on what part you're in, you can be near the L which will help you commute without a car. If you're sold on Lincoln Park, or wherever else in transplantville, get a roommate.

[SalingerBananafish]

You'll be able to rent a studio in Logan Square, Edgewater, Hyde Park, and some places in Lakeview for under 800/mo. Like others suggested, getting a roommate and splitting a 2BD would open up a few more options. Anything over 900/mo and you'll feel the pinch.

Don't know if you plan on driving a lot, but gas prices in Chicago are quite a bit higher than in Houston/Atlanta.

[Freefall18]

You mentioned a car bill. Are you bringing a car with you? If so, you should consider ditching it. That will give you a lot more flexibility with how much rent you can afford to pay (and in the nicer neighborhoods you don't need a car).

[SubconsciousMe]

Absolutely. I would expand your housing location parameters for the most "bang for your buck" but... the bottom line is, yes. I live in Pilsen, which is seen as a less desirable area than those you listed, but I'm right off the CTA and have sold our vehicle as a result. We rarely miss it with the exception of getting furniture (but how often is that?).