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Old 03-18-2008, 11:48 PM
 
Location: Vancouver, BC
49 posts, read 137,054 times
Reputation: 16

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I know this question has probaby been asked a million times...can you live in the city or close to the city (no more than 30 min on transit) on $40K a year (before taxes). I would like to pay no more than $1500 for a 2 bedroom apt. Let me know if this is feasible.
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Old 03-19-2008, 12:03 AM
 
Location: Chicago
38,704 posts, read 95,255,629 times
Reputation: 29785
perfectly feasible -- though I have to ask why such an expensive place on $40K a year.
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Old 03-19-2008, 12:33 AM
 
Location: Vancouver, BC
49 posts, read 137,054 times
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b/c it will only be my husband living there at first for a few months on $40 K, but once my hubands gets things set up for us me and my 18 mo old son will be joining him - and at which point i will be working and will have 2 incomes. PS - does anyone have any info on daycare costs?
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Old 03-19-2008, 01:31 AM
 
Location: Chicago
38,704 posts, read 95,255,629 times
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Well if you look in the right place you'll be able to get a 2-bedroom in a reasonably safe neighborhood for well under $1500 -- even under $1000/mo is quite possible.
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Old 03-19-2008, 03:59 AM
 
35 posts, read 149,997 times
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Default job?

This is assuming he has a $40K job? If not, the hiring market is tight!
Check out the free Chicago Reader newspaper for apt hunting. It has the most ads for Chicago area. Chicago Reader Online Features

Daycarematch.com rates Chicago's average daycare cost to be $484/wk. People I worked with used JVC (Jewish Vocational Services) daycare.
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Old 03-19-2008, 08:17 AM
 
Location: Oak Park, IL
5,523 posts, read 12,984,652 times
Reputation: 3872
I'll give you my experience for comparison. Three years ago my wife and I moved to Oak Park. We rented a two bedroom apt in downtown OP for 1200/month. It was two blocks from the el in a safe, vibrant part of town. We even got a garage for an extra 100. There are plenty of places like this in the city and near suburbs.
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Old 03-19-2008, 08:25 AM
 
11,288 posts, read 24,124,298 times
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$1,500 for a two bedroom is very easy to find. Although if you need daycare costs and make $40K per year, you might want to start off with something around $1,000-$1,100 for a 2 bedroom. At least until you move there and you also get a job. It's always best to start on the low end, get adjusted to everything, THEN start moving up. You don't want to get yourself into a bind and then suddenly have 1-2 months to figure out all this crap....

You can easily find something to start out in for a year for $1,000-$1,100 in a safe area. Then maybe just buy a nice condo after your first year - when you also have a job. It would be easier with a child, maybe get a nice yard, deck, etc. etc...

When I first moved here I was also making $40K per year, and survived just FINE, but I didn't have a child and spouse moving in as well....just be careful.
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Old 03-19-2008, 08:29 AM
 
145 posts, read 613,874 times
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$40K for a single person is fine. $40K for a family, who is considering daycare in the city, is a scary as heck proposition. As the poster above me said, be very, very careful
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Old 03-19-2008, 10:26 AM
 
Location: Vancouver, BC
49 posts, read 137,054 times
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once me and baby join my husband i will be working within the first month, so our salary will be more like $60-$70K...my son will not require daycare until i start working. If we don't live right in the city can we still commute easily without a car?
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Old 03-19-2008, 10:48 AM
 
Location: Oak Park, IL
5,523 posts, read 12,984,652 times
Reputation: 3872
Quote:
Originally Posted by cheerchix View Post
once me and baby join my husband i will be working within the first month, so our salary will be more like $60-$70K...my son will not require daycare until i start working. If we don't live right in the city can we still commute easily without a car?
I don't want to discourage people from living in Chicago. However, the fact remains that Oak Park is 20 minutes away from the Loop by public transit (el and Metra). This compares favorably with many of the desirable northside neighborhoods that people rightfully praise.
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