14 The HBCU Advocate Reality FROM PAGE 1


a month, or 30% of their average gross income. (If you spend more than 30% of your income, the U.S. Census Bureau considers you “rent burdened.”)


The results are illuminating. While


good deals can still be had, the reality of renting—even on a good salary—is that some renters are having to do a lot more with less.


What a $50K Salary Looks Like in Chicago Kenwood Given Ardmore’s average


monthly rent of $2,000, renters on a $1,250 monthly budget are most likely looking at studios, such as this 560 square foot studio at apartment complex Row. Primarily residential, with


a home


Best known for being a former of former


President Obama, median Barack


neighborhood is fairly diverse. 57% of neighborhood residents


monthly rent of


Chicago’s Kenwood are


$1,150, single


and 54% are college educated. With a


Chicago’s Kenwood district has plenty of options for workers with salaries of $50K—including 400 square-foot studios at the Algonquin Apartments. (If you want a one bedroom, you’ll have to up your budget to $1,350 a month.)


Edgewater strip of restaurants to its


eastern border, Ardmore is only a 20-minute commute to downtown and is full of single and college-edu- cated renters.


Lindbergh/Morosgo


Volume 1 Number 3


a month, paying around $1,250 is a real steal. You just need to be willing to live a minimalist lifestyle.


What a $50K Salary Looks


Like in Atlanta Ardmore


place to live. An abbreviation for South of Houston, it’s known for high-end boutiques and art galleries. It’s hardly surprising that


median


monthly rent here is $4,575. However, that’s not to say that you can’t find a deal if you’re willing to live in a smaller


space. This one-bedroom,


one-bathroom apartment for $1,200 a month is definitely small, but it also puts you at the center of one of New York’s most prized neighborhoods.


Harlem


August/September 2017 City College and Columbia, as well


as Riverside State Park Slope


neighborhood, Park Slope has a median


An extremely monthly


rent of $4,700.


For Columbia University students looking for housing near campus—but trying to stay on a budget—best bets around $1,250 a month will be for rooms for rent in larger apartments. This Harlem four-bedroom currently has several rooms available for around $1,000 a month, but in exchange for sharing two bathrooms with three roommates, you’ll be close to both


However, if you split that up between three or four roommates, a person with a $1,250 monthly budget could afford a room in an apartment like this four-bedroom apartment in a pre-war walk-up with dark hardwood floors and high ceilings. (It also has the New York renter’s holy grail: an in-unit washer and dryer!) It’s also within walking distance to great schools, restaurants, shopping, and the F/G/R subway trains into the city. If you’re willing to add roommates to the mix, asking “How much house can I afford?” is no longer a daunting question.


desirable


Park, a Fairway


supermarket, restaurants, coffee shops, bars and more.


In Lindbergh/Morosgo, average


monthly rents are $1,295, so a $1,250 budget will get you slightly more space than in Ardmore. At the Sorelle apartment


complex, one-bedroom,


one-bathroom apartments can be had starting at $1,163—complex with a complex-wide fitness center, dog park, and pool. In general, Lindbergh has a high percentage


residents (81%) and renters (84%). Buckhead Triangle


True to its name, Edgewater sits on the shore of Lake Michigan and has several beaches residents can enjoy in the warmer months. It’s also home to Lincoln Park, Chicago’s largest park, and is known for its affordable prices— despite its prime lakefront location. At complexes like The Bryn, studios start at $1,230 and residents can enjoy proximity to multiple grocery stores, coffee shops, access to multiple bus lines and the Red Line Bryn Mawr stop.


Hyde Park


of single


Buckhead is one of Atlanta’s


more affluent neighborhoods, so it’s hardly surprising to learn that the average monthly rent is $3,375 (and the median household income is $91,026.) Close to the Lenox Square mall, which is full of luxury stores like Louis Vuitton, Bulgari, and Prada, Buckhead is largely college- educated and single. And if you’re willing to go a little over one’s budget of $1,250, 1 bedroom, 1 bathroom apartments


are currently available


at the Gramercy complex, complete with a 24-hour courtesy officer and two swimming pools.


What a $50K Salary Looks Home to the prestigious University


of Chicago, Chicago’s Hyde Park is one of the city’s most famed areas. Filled with student-friendly cafes and bookstores, the area is also only a 20-minute public transportation ride to downtown Chicago. The Blackwood, a renovated 1920s hotel, offers 450 square foot one-bedrooms for $1,266 a month and access to a fitness center, concierge, and of course, a breathtaking,


Art


Deco-style lobby. And given that Hyde Park’s median monthly rent is $3,000


Like in New York SoHo


As even casual NYC visitors would guess, SoHo is an expensive


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16