Is Chicago an expensive city to live in?

How much are the monthly expenses of two young professionals in Chicago, IL, without rent/mortgage?

By | 2013-08-27T11:19:17+00:00 August 27th, 2013|Mortgages Home Loans Interest Rate|3 Comments

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  1. Mike S August 27, 2013 at 12:44 PM - Reply

    When compared to NYC, No
    to Ames IA Yes

  2. hot_rican_4_ju August 27, 2013 at 11:49 AM - Reply

    Yes very exspensive! I moved away 4 months ago, and I am loving not being there. However, you said that you are both “professionals”, Chicago is a city for “professionals”, those are the people who can just afford to live there, without depending on the government.

    Your question will have mixed answers, because rent prices change by neighborhood. Of course if you really don’t care about crime, then the cheapest places to rent will be in the Southside, Humboldt park, Logan Square, Westside. Logan Square is starting to change, but not enough for my taste yet.

    In areas such as “wrigglyville” a one bedroom apartment can easily cost you a grand, not including utilities and not including a parking spot. I have seen condos in that area go for 400,000$ and parking spots are an extra 30,000$. You want to live nice there, then you have to spend nice.

    Rogers park, is mixed, the East side of RP is not too nice, the westside is near the Lincolnwood, which is nice, and a one bedroom apartment can go for around 800$ possible includes gas. Condos there are arond 350,000. Buying a home in Chicago is around the same prices as the condos, which never made any sense to me, why buy a condo (nice apartment) when you can buy a house for the same amount?

    If you have a smoking habit, you will want to quit in Chi-town, a pack can cost as much as 9.00.
    Taxes are 10.25% and may rise. Parking meters are costly, I was on state street in downtown, and I got 8 mintues per quarter. Grant park is even worse, I paid more than a dollar, and got less than 15 mintues, which is how long it took to walk to the fountain. Go figure. Now, they boot cars 24 hours a day, remember 2 unpaid tickets get the “boot”. Do not drive through a yellow light, you will have a camera flash a picture of your car and you will have a suprise in the mail 100.0$ suprise. They have so many camera there that in some areas, it looks like lightning, because they are always flashing and catching people going through yellow lights, notice that I say yellow light, not red! , I believe the intersections with cameras have quicker yellow lights on purpose, so we proceed to go, and while we go it turns to red and then Chicago gets another 100.00 from one of us.

    Bus fare is 3$ per ride, with no transfers, CTA does have passes but I cant remember how much they are, becuase CTA likes to change prices every 6 months. And they love to cut services to their already crappy service.

    Grocery shopping is a joke. Food is really costly there, stick with Aldi, they are the cheapest, these days people who wouldnt look at the Aldi sign now shop there themselves, they even have commercials now with higher end making people in it(well, at least they look it).

    4 months ago, I grew some, and moved almost 2,000 miles away and I am loving every ounce of being away from that cold, money hungry city. The only thing I miss, is my family and the great food that Chicago has. The food there is unlike any other city. Chi does offer museums and what not, but they are not cheap. Before buying you should rent and see how you like it there. Good luck.

    Now, if you are coming from hawaii, or Cali, this city will be a bargin for you.

  3. Jake August 27, 2013 at 11:29 AM - Reply

    no one knows the answer to this question because it depends on your lifestyle. Rent (for a good neighborhood) for a two-bedroom place will run $1300-1800 per month. Aside from that, food prices aren’t noticeably higher than other cities. The tax rate is 10% so that can tack on quite a bit. Most young professionals over spend at the bars on weekends. Cigarettes are $9-10 per pack and again, depending on which neighborhood you’re in, parking can run $100-200 per month. If you don’t drink or smoke than I’d say it is within reach of almost all young professionals. If you don’t own a car then don’t worry about that expense. The CTA (El, or subway) train rides cost 2.25 each ride. So public will cost you about $25-30/week at a minimum.

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