Is $30 An Hour Enough To Live In Chicago

Chicago Salary Guide On How Can You Live On $30 An Hour

Making $30 an hour? Then you are probably dying to know whether this is a well-enough amount to live on in Chicago. It is a good sum of money, but Chicago is not exactly the cheapest city to survive in. Rent, groceries, transportation, and fun add up really fast. Will this wage pay all your needs and leave some room for fun?

So, let's get real about what $30 actually gets you in Chicago, how much of it you'll take home after taxes, and whether you can like the city without living in constant fear of money issues.

Chicago's Cost Of Living 

Although it's not quite a deal, Chicago is among the more reasonably priced large cities in the United States. The most important factor? housing expenses. 

What Is The Cost Of Rent In Chicago? 

How far your money goes depends much on where you choose to live. Depending on the neighborhood, rent varies greatly. 

• Most Costly: A one-bedroom in Downtown, River North, or West Loop costs between $2,000 and $3,000. 

• Mid-Range Neighborhoods: Lakeview, Logan Square, and Wicker Park would cost between $1,500 and $2,000 for a one-bedroom. 

• More Reasonably Priced Neighborhoods: Beverly, Albany Park, and Rogers Park; a one-bedroom there costs between $1,200 and $1,600. 

Rent may account for more than half of your income if you wish to live alone in a trendy area. However, you'll have a lot more money if you live outside of the city center or split the rent with roommates.

The Unexpected Costs You Should Plan For

Besides rent and consumption, there are other unforeseen expenditures to which life exposes us. Such can range from car maintenance expenses, medical costs, or any other professional service that may be needed at one point in life, such as Deep Cleaning Chicago. According to financial gurus, one should save as much as 20% of his or her income in cases of an emergency, but this may be very difficult to do; this is because the budgets are already stretched to the max.

Is $30 An Hour Enough To Live On In Chicago?

In Chicago, $30 per hour isn't bad, but it's also not a luxury wage. If you pick a decent place to live, stick to your spending plan, and budget correctly, you can surely make it work. However, you may need to gradually raise your salary if you want to save more money, live stress-free, or have greater financial independence.

Even if you just have $30 per hour, you can still have a great time in Chicago if you have the correct attitude!