A brand new studio in the Loop will set you back $2,000 per month, or possibly even more. From a quick calculation, you need to be making at least $70,000 per year to afford that kind of rent. And even with that salary, things might be a little tight if you have student loans, credit card bills, and so forth. Odds are, most younger Chicagoans are going to be looking for stuff in this price range—which is $700 per month. A studio like this won’t have the same amenities, views, and convenient location as the ones in brand new downtown high-rises, but it’s also a third of the cost. There’s nothing flashy about this studio, but at the same time, if you’re looking to save some cash, that’s probably just fine.