Cost of Living in Elgin, IL
Population 114,106 · Illinois · Data vintage 2023
(100 = US avg)
Most of Elgin's cost indicators track within a reasonable band of national figures, with median household incomes near $88,316 — a more representative starting point for relocation math than the headline-expensive or headline-cheap cities on either tail. Unemployment has stayed elevated relative to the national figure — 6.3% as of the most recent ACS release — which shows up in household-income and poverty figures as well.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Elgin
The median home value in Elgin is $252,400 — 17% below the national median of $305,000. Median rent runs $1,260/month, 4% lower than the national median of $1,314/month. The median household income of $88,316/year is 18% higher than the US median of $74,580. The local unemployment rate is 6.3%, above 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, Elgin has a cost of living index of 88 versus the US average of 100, meaning it is 12% less 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 Elgin, IL?
Elgin has a cost index of 88 (100 = national average). It is 12% below the national average.
What is average rent in Elgin, IL?
The median gross rent in Elgin is $1,260 per month based on 2023 Census data.
What is the average home price in Elgin?
The median home value in Elgin is $252,400 according to Zillow and Census data.
What is the median income in Elgin?
The median household income in Elgin is $88,316 per year (2023 ACS 5-year estimates).
What is the sales tax in Elgin, IL?
The combined state and local sales tax rate in Elgin is 8.7%. The Illinois state income tax top rate is 5.0%.
Is Elgin, IL affordable?
Yes, Elgin is generally considered affordable, with a cost of living index of 88 — about 12% below the US national average of 100.
Elgin at a Glance
- Population
- 114,106
- Median Income
- $88,316
- Home Value
- $252,400
- Median Rent
- $1,260/mo
- Unemployment
- 6.3%
- Sales Tax
- 8.7%
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Illinois Rankings
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