Cost of Living in Algonquin, IL
Population 29,904 · Illinois · Data vintage 2023
(100 = US avg)
Most of Algonquin's cost indicators track within a reasonable band of national figures, with median household incomes near $131,753 — a more representative starting point for relocation math than the headline-expensive or headline-cheap cities on either tail.
Geographically, Algonquin sits roughly 8 miles north of Elgin. Median home values run roughly 28% higher than Elgin's $252,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Algonquin
The median home value in Algonquin is $324,000 — 6% above the national median of $305,000. Median rent runs $1,800/month, 37% higher than the national median of $1,314/month. The median household income of $131,753/year is 77% higher than the US median of $74,580. The local unemployment rate is 4.4%, below the national average of 4.8%. Illinois's top state income tax rate is 5.0% and the combined sales tax is 8.7%. Overall, Algonquin has a cost of living index of 119 versus the US average of 100, meaning it is 19% more expensive.
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
Frequently Asked Questions
What is the cost of living in Algonquin, IL?
Algonquin has a cost index of 119 (100 = national average). It is 19% above the national average.
What is average rent in Algonquin, IL?
The median gross rent in Algonquin is $1,800 per month based on 2023 Census data.
What is the average home price in Algonquin?
The median home value in Algonquin is $324,000 according to Zillow and Census data.
What is the median income in Algonquin?
The median household income in Algonquin is $131,753 per year (2023 ACS 5-year estimates).
What is the sales tax in Algonquin, IL?
The combined state and local sales tax rate in Algonquin is 8.7%. The Illinois state income tax top rate is 5.0%.
Is Algonquin, IL affordable?
Algonquin is above average in cost of living, with an index of 119 — about 19% higher than the national average.
Algonquin at a Glance
- Population
- 29,904
- Median Income
- $131,753
- Home Value
- $324,000
- Median Rent
- $1,800/mo
- Unemployment
- 4.4%
- Sales Tax
- 8.7%
Nearby Cities
Explore county-level cost of living data
Illinois Rankings
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