Should I Own a Car in Chicago?
**I decided to repost this entry from July, as owning a car in Chicago is getting more expensive by the day!
Almost no one drives 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 bank, 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. No waiting list, though… ‘cause we’re all too smart to own cars!
Chicago just leased its parking meters to private organizations. In some areas, they've tripled the hourly rates. These are just the first of a series of rate hikes planned over the next 4 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 $28.75 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.
Of course! Though, my intended audience is, for the most part, the stuggling artist: childless, just out of college, and/or moving to the city.
If you do have kids, I recognize they may not only need to get to school, but various lessons, practices, and social events, which may make car ownership necessary. Also, who can carry all those groceries???
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