Living Cost in Chicago and Boston?

[tjk]

Quick questions:
How much would one need to live comfortably as a grad student in Chicago? Would $2000 a month be enough?
and what about Boston? Would $1400 a month be enough?
Thanks

[econgeek06]

I live in Boston now, and work full time. After taxes, health insurance, etc, my take-home pay is approximately $415/wk. I can live comfortably by my standards, including the food/vet bills for my two cats. I don't have a car, and I don't recommend trying to have one in Boston. I pay about $640 in rent and utilities (not including cable/internet). You could find places for less if you're willing to share an apartment with others and/or live farther away from a "T" (subway) stop.

Let me know if you have other questions. I'd be happy to help.

[tjk]

Hi Econgeek06,
Thank you so much for your reply. I prefer having a single room within walking distance to the MIT campus or close to a T stop. Your rent sounds good to me. Do you share bathroom or kitchen with others? Do you cook for yourself? If I were to commute to/from school by subway every weekday, how much should it cost per month?
Thanks a lot =)

[dyiwang]

You should be very comfortable with $2,000 in Chicago, especially if you live near the U of Chicago. You can rent a nice two bedroom with a lake view in a high rise near the lake for slightly over $1,200, even cheaper if you share or just want a studio or one bedroom. And you can use the rest for food, cable, and DSL stuff. Chicago can be expensive if you want, but as a student, $2,000 a month should be more than enough (for one person that is).

[econgeek06]

Originally Posted by tjk

Do you share bathroom or kitchen with others? Do you cook for yourself? If I were to commute to/from school by subway every weekday, how much should it cost per month?

I share a bathroom and a kitchen, both with just one other person. I have my own bedroom. I "cook" for myself, but my idea of cooking is pretty lightweight. I eat a lot of cereal, pasta, peanut butter sandwiches, and frozen veggies. Things that are cheap and easy to prepare. I have enough money to go out to a restaurant (not an expensive one) a few times a week.

The biggest expense in the Boston area is *definitely* housing. Other things are not that much more expensive than they would be in other cities.

The monthly T pass costs $44/month. Harvard grad students get a 10% discount; I don't know if MIT has a similar deal or not. The area around MIT is cheaper than other parts of Cambridge (i.e. Harvard Square), but it's also dirtier and a little less safe at night. There are buses from MIT that would take you down to the Longwood/Fenway areas, which have even cheaper housing. Bus passes are only $31/month, so if you think you can get by without using the subway very often (I've found that I can), you might want to just get a bus pass.

[tjk]

Thanks dyiwang and econgeek06. The place I live in right now also has ~$600-700 rent so I think I can probably manage my money in Boston. But you know...the stipend in Chicago is so tempting.

[dyiwang]

No problem. Glad to help. Are you debating between U of Chicago and Harvard/MIT? What's holding you back from taking the money from Chicago? Is it ranking or some other reason? Maybe you can do a cost and benefit analysis and do a breakeven...

[anotheronebrah]

you can get T-passes 1/2 off if you are an MIT student or staff member, this includes the normal subway pass but also subway+bus pass combos. Housing is cheaper in the areas around boston (allston, cambridge, somerville) as long as you don't mind dealing with the T.

[tjk]

No, it's not U of Chicago I'm talking about. I feel like my research interests fit better with the school in Boston, but I'm not sure if I could live without struggling too much with that amount of money. Plus, I would like to have some money left (although not a lot) by the time I graduate in order to help with starting my career.

The subway-bus pass combo sounds nice. Is it the same bus that econgeek06 mentioned? Do you feel safe when traveling by subway or bus at night (say, around 6-9 PM)?

Thanks a lot and good luck with the schools you are waiting for

[econgeek06]

Yeah, the subway/buss combo pass is what I use, and I love it. I feel very safe on the Green and Red subway lines in the evenings (6-9 pm). I'd be a little less sure about the Blue and Orange. I've definitely never felt unsafe on a bus, even at 11 pm. The subways and buses will be completely packed from 8-10am and 4-7pm (you'll have trouble finding a place to stand!), and are often still pretty full up until about 11pm (later on Fridays and Saturdays), especially in the "student" areas (Red Line between Davis Sq and Park Street, Green Lines B and C the whole length of the line).