If you’re like us here at AptAmigo, you've probably had the following thoughts before: "It's ok if I spend $70 at a bar tonight, I'll just cook every meal next week." Or "It's Cubs/White Sox opening day, I don't care how much the tickets cost."
When it comes to budgeting for Chicago rent, a decent rule of thumb is if you make X amount of money a month, you should only spend 25 - 35% of X on rent. If you're on the hunt for a new lease, every dollar counts.
Because peak Chicago apartment season (summer!!) is almost here, we thought we'd try to help put Chicago rent prices in context (and have a little fun).
You should only spend 25 ~ 35% of monthly salary on rent
We took a look at how much it costs to rent a 1 bedroom in a few of Chicago’s neighborhoods, and started wondering "what else could you be buying with that money?”. With things like Lollapalooza, Opening Day, and the Air & Water Show coming up, every dollar saved can buy 1/12 of a beer at Wrigley or 1/4 of a festival chili dog. We also have a weird sense of humor and like knowing that you could get 122 bottles of Malort OR a median 1-bed in River North. Would you rather have a 1-bedroom apartment in West Loop Gate or 104 Pequod's Pizzas? Who knows?! But now you can make such a life-altering decision.
Ok, our tongue is firmly planted in our cheek, but wouldn't apartment hunting be more fun if there were a few listings like this:
Beautiful 1 bedroom in Old Town. Updated appliances, balcony, pets allowed. Monthly rent of 20 Chicago Flag Tattoos plus utilities.
Maybe, maybe not. Apartment hunting is confusing and painful enough already (shameless AptAmigo plug!), but hopefully this playful infograph gets you pumped to start saving for Chicago summer!
Chicago Rent Prices