Can I afford this rent? (Chicago, Lincoln: neighborhoods, school, college)

[Vlajos]

Are you opposed to a roommate? You can almost cut your rent in half that way.

[emathias]

Originally Posted by Aleking

I make a similar amount and $1,200 just for housing seems like stretching it way thin but I like to blow cash on food and drink.

When I made $60k/year, I paid about $800/month in rent and while I didn't feel like I was struggling, I always felt like there were other things I'd rather be spending the money on.

[marothisu]

I started out on $65k-$70k and my rent was over $1200/month. I didn't have much debt.

[Aleking]

Originally Posted by emathias

When I made $60k/year, I paid about $800/month in rent and while I didn't feel like I was struggling, I always felt like there were other things I'd rather be spending the money on.

Yeah, my mortgage is around 500 and with assessment, taxes, etc bringing my monthly housing nut to around 850. With no debt (other than the mortgage) it's more than comfortable but I think a lot of people stretch their housing dollar too far and don't leave themselves anything to actually enjoy the city.

[jwaiter]

I thought the OP was saying his TAKE HOME is 60K, meaning he's making more like 80K net income, but after tax, 60K.

[trailblazer33]

Originally Posted by jwaiter

I thought the OP was saying his TAKE HOME is 60K, meaning he's making more like 80K net income, but after tax, 60K.

Nope, he said pretax (gross) was 60k plus bonuses.

[Vlajos]

I agree with whoever said NOT to include the bonus in the rent calculation.

[huckc]

Originally Posted by marothisu

My initial reaction is YES. Unless you have a lot of debt AND a car...if not then you shouldn't have a problem doing so IMO. And studios for $1200? I live in the southern end of the Gold Coast and my building's 1 bedrooms are like $1325/month and my building is not crap.

Yeah you can get the $1200 deal but you may be able to find some better deals. River North is about the closest to the Loop worth living, but even if you go 1/2 or 1 mile north of there...still worth it IMO.

What building is this?

I pay $1615 a month for a 620 foot studio in River North. It's about $300 under current market value for the unit and one bedrooms start at about $2200 in my building.

[marothisu]

Originally Posted by huckc

What building is this?

I pay $1615 a month for a 620 foot studio in River North. It's about $300 under current market value for the unit and one bedrooms start at about $2200 in my building.

I'll PM you..my building is not a new building though, but it's not vintage.

[Vlajos]

Originally Posted by huckc

What building is this?

I pay $1615 a month for a 620 foot studio in River North. It's about $300 under current market value for the unit and one bedrooms start at about $2200 in my building.

That's crazy!