How are the living expenses at Chicago?

What are the expenses of living in Chicago?

• I plan on moving to Chicago /after/ college. I'm in my senior year of high school now, so it'll be in, roughly, six years. I want to live in a good neighborhood and I've heard Edgewater is nice. I don't plan on having a car, so that'll cut down on gas expenses. I don't plan on eating fast food a lot, and I'll be living by myself. Mostly likely, I'll have no pets in the first few years. Can someone tell me what it'll cost, on average?

• Answer:

  Today I would tell you to expect to pay at least $750 a month on an apartment within walking distance to public transportation in a halfway nice neighborhood like Edgewater. That doesn't include the security deposit you're going to have to put down which is usually a month's rent. A monthly pass for unlimited rides on CTA trains and buses will cost you $75 per month ($2.50 per day). Which is pretty cheap but you should expect the CTA fares to go up at least a quarter in the next six years. After that you have to budget for food (eating in & out), utilities (usually just electric & gas), entertainment (movies, bars...), savings, and you're naturally going to have to at some point spend money on new clothes/shoes... Basically your total cost of rent shouldn't cost more than half of what you make every month if you ask me.