Should I Own a Car in Chicago?
**I decided to repost this entry as owning a car in Chicago is getting more expensive by the day!
Who can afford to drive to work everyday in Chicago??? Chicago has some of the worst traffic in the United States. Free parking doesn't exist in many areas of the city, or the rules that govern it are so complex, you're bound to get towed, and commercial lots are expensive. Plenty of people make great salaries, yet take a train or bus (Metra or Chicago Transit) to avoid the hassle of driving and parking a car in the Windy City.
A couple of websites calculate the monthly cost of a car, and any way you crunch the numbers, it’s hard to spend less than $200/mo, no matter where you live. Also, consider the additional costs of driving in Chicago: a Chicago city sticker will cost you $150/yr, and some neighborhood street parking will cost residents an additional $25/yr. If you want a space at your apartment building, that might cost you, too. For instance, outdoor parking spaces at my building start at $180/mo.
As you're probably heard, Chicago leased its parking meters to a private organization. In some areas, the hourly rates tripled. These are just the first of a series of rate hikes planned over the next few years. By 2013, hourly rates in the loop will be $6.50, and we'll have some of the highest meter prices in the country.
Good news! A 30-day, unlimited-ride pass from the Chicago Transit Authority is $86. An even better value if you work six days a week, instead of five, like those in the Chicago arts community. If you're a performer with a day job, and do to a show at night, that pass gets wicked cheap per ride.
If you want to go to the Ikea/Walmart paradise that is Schaumberg, rent a car for a day once or twice a year, and go stock up. A rental car costs under $100/day. Try Rent-A-Wreck, or look for a discount from your union or the AFL-CIO’s website.
You might be able to buy Metra and CTA fares with pre-tax income through your company and the Transit Benefit Program. That’s $21.50 in your pocket for every $86 monthly pass! Check with your employer.
With a monthly savings of $125-$150 minimum, public transportation easily wins out over owning a car. So, should you own a car in Chicago? No way.
Great post, gave me something to think about. I'm hoping to move to Chicago from Milwaukee in the Spring and have been so back and forth about selling my truck that I just paid off. In all honestly I hate driving, I just wasn't sure if it was worth it or not.
Reply to this
Hi Mariana, welcome to Chicago: cheap! My boyfriend owns a truck and is SELLING it two years later. The struggle with street parking has been a constant frustration. We're getting married shortly, and I bought a Prius, which will mostly be his car. That's right, after 13 years in the city, I'm still happy being car-less.
Let us know what you end up doing, and how it works out for you.
Reply to this