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How do rents in Chicago's nicer neighborhoods compare to Boston?
Way cheaper.
Boston and immediate environs is doable if you have two moderate-low earners together. A couple making 80-100k can still be just fine in Boston. Maybe could even have a kid.
But getting an apartment on your own like that is a non-starter unless you apply for like 8-10 income-restricted units. Luckily mayor Wu has stated her goal is to raise the IDP on new contrsuction requirement from 13% to 20%, probably within the next year. And likely going to drop the minimum unit threshold for IDP to kick in from 10 units to 5 units.
Bay Area's a bit weirder than usual because of how it has multiple nodes for its economic centers. There's something like a barbell of sorts that's one dense locus in downtown San Francisco area with a string of still quite a bit of very economically important headquarters going down the peninsula on the bay side of things and then another very dense concentration in San Jose. There's a bit of that in East Bay as well, though not as much.
The cheapest places in the Boston CSA are probably cheaper than the cheapest cities in the Bay Area CSA but id also takes pretty much any city in the Bay Area CSA over New Bedford or Fitchburg, simply for weather, modernity and scenery. It wasn't long ago when New Bedford and Fitchburg were good for $750 2BR. I'm talking like 2015.
I hopped on Zillow very briefly to look at rents in Lincoln Park, and they don’t seem wildly cheaper than what I’m paying or than what other apartments in the area were going for when I last looked.
I hopped on Zillow very briefly to look at rents in Lincoln Park, and they don’t seem wildly cheaper than what I’m paying or than what other apartments in the area were going for when I last looked.
The new apartments in nice areas of Boston are 3-7000 a month. Its not wildly cheaper than that?
Shooot Hub35 in Dorchester START at 2600 for a studio. This is Dorchester. Rents go up to $5,813 ...in Dorchester. Dont get me started on neighborhoods that dont have a 25% poverty rate and arent 70% BIPOC..
I hopped on Zillow very briefly to look at rents in Lincoln Park, and they don’t seem wildly cheaper than what I’m paying or than what other apartments in the area were going for when I last looked.
Look at rentals in Lincoln Park vs. Back Bay. Closest comp for neighborhoods in each city.
Then look at the size, amenities, and how well the units have been maintained.
I'd say 50% cheaper in Lincoln Park, to be conservative, when taking all into account.
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