Is it okay to spend more than 30% on your rent in Chicago. Feels like the rent is skyrocketing and it’s crazy to get hands on the right apartment

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Is there a reason you have to stay in a high rent area of the city? Are you able to work remotely? Seems to me you’d be much better served moving to something more economical and putting your rent savings to work for you via investments.

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You can do whatever you want with your money but I wouldn’t spend anywhere near that. You don’t have to live in river north or old town to enjoy Chicago.

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I spent more than that on rent in Chicago and I thought it was absolutely worth it. Depends on how you want to spend your years - building equity or living the life you want or do both!

30% is high but not awful especially if you are just starting out in your career! I paid more for a not fancy building in the pandemic. Enjoy your life the way you want!

smart

30% of gross or net monthly pay?

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Net

Seems pretty steep for housing without building any equity.

Not even true depending on the building and amenities vs cost of owning in a similar place

Rents are going up everywhere… Can you do it? Sure. Do you really want to do it? I don’t know. That’s for you to answer. Just look around and see what it is you want. I like to have disposable income to do things but it is easier to do things for free too living closer to things.

What neighborhoods are you looking in?

I pay around 30% net income on rent. However my rent includes covered parking, comcast, gym. Try to get everything in that 30% figure!

Porte is fantastic. I toured it when I moved in the fall however, they didn’t have parking available and was on a wait list. But the location is incredible. Target and Marianos are both walking distance and so are great restaurants!They have a super nice rooftops Parents live in the burbs and so I like having covered parking to go visit them often. I am lazy cleaning snow lmao.

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