Wednesday, February 1, 2017

The Cost of Living in a Hot Spot City

Chicago foot traffic on a weekend.

Hey neighbors!

Are you considering moving to a Hot Spot?  Maybe have a job change coming up?  Or perhaps it is just time to move on.  Before you choose your destination, continue reading this post for a little information regarding those larger cities that are considered Hot Spots.

Some questions you might need to ask yourself before making a decision are:
1.  Will you be staying there long, or is the job likely to move you again?
2. Do you want to rent or buy?
3. How much higher is the cost of living compared to where you presently live?
4. Will you have an easy commute? Walk? Drive?
5. Is public transportation available? Bus? EL? Train?

There is a site that has created a map showing how many of the Hot Spot cities rank in some of these areas.  For example, Chicago has a median home price of $270,000.  The median rent is $1,616.  Approx. 27% of people living in Chicago use public transportation, with 67% using a car.  We actually live a few hours from Chicago and visit there occasionally, so we have experienced the downtown traffic and have used the public transportation.  I am actually surprised that the percentage of public transportation is not higher.

I checked a couple of the other cities included on the map.  My one daughter would LOVE to move to Texas, so I checked out Dallas.  It is slightly higher than Chicago, which  found surprising.  Dallas has a median home price of $375,000, with rents median being 1,750.  Public transportation falls to only 4% in Dallas, while those using their own vehicles climbs to 95%.

So if you are considering a move to one of these larger cities, be sure to check out in advance what some of the cost of living changes might be.

Thanks for stopping in!  See you soon!

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