Elgin, IL Cost Of Living
Cost Of Living In Elgin, IL Summary
Cost of living in Elgin research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Elgin is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Illinois, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Elgin is 107, with 100 being the average.
The cost of living index in Elgin is 1.1x higher than the national average.
Elgin ranks as the #195 cheapest in Illinois out of 336.
Elgin ranks as the #3,374 cheapest out of 6,489 in the US.
The median home value in Elgin is $323,555.
The median income in Elgin is $88,316.
Table Of Contents
Elgin's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Elgin, IL?
According to the most recent data on the cost of living, Elgin has an overall cost of living index of 107, which is 1.1x higher than the national index of 100.
Compared to Illinois, Elgin has a cost of living index that's 1.1x higher than Illinois's index of 97.
The standard of living in Elgin ranks as #195 most affordable out of the 336 places we measured in Illinois. By definition, that implies Elgin ranks as the #141 most expensive place in the Prairie State.
For more reading on life in Elgin, check out:
In Illinois
In America
Elgin Cost Of Living Vs. Illinois
Six factors go into calculating the cost of living index in Elgin. Here is how it fairs on each of the criteria:
The Services index in Elgin is 107.
The Groceries index in Elgin is 105.
The Health index in Elgin is 109.
The Housing index in Elgin is 107.
The Transportation index in Elgin is 108.
The Utilities index in Elgin is 90.
| Living Expense | Elgin | Illinois | National Average | |
|---|---|---|---|---|
| Overall | 107 | 97 | 100 | |
| Services | 107 | 95 | 100 | |
| Groceries | 105 | 99 | 100 | |
| Health | 109 | 93 | 100 | |
| Housing | 107 | 95 | 100 | |
| Transportation | 108 | 102 | 100 | |
| Utilities | 90 | 91 | 100 | |
Elgin, IL Housing Cost Breakdown
Housing swings affordability the most between places in Illinois, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2019-2023. The key points are:
The Median Home Value in Elgin is $323,555.
The Median Rent in Elgin is $1,260.
The Median Income in Elgin is $88,316.
The Home Value To Income in Elgin is 3.7x.
The Rent To Monthly Income in Elgin is 0.17x.
Median Home Value
Median Rent
Median Income
Elgin, IL Costs By Category
Detailed Elgin Services Costs Vs. Illinois
Detailed Elgin Groceries Costs Vs. Illinois
Detailed Elgin Health Costs Vs. Illinois
Detailed Elgin Transportation Costs Vs. Illinois
Detailed Elgin Utilities Costs Vs. Illinois
Elgin SnackAbility
/10
Cost Of Living In Cities Around Elgin
The cost of living varies in the cities and towns around Elgin. Here's a quick look at the cost of living in the most populous nearby places:
Arlington Heights, IL has a cost of living index of 124, 1.2x Elgin.
Mount Prospect, IL has a cost of living index of 122, 1.1x Elgin.
Wheaton, IL has a cost of living index of 128, 1.2x Elgin.
| City | Population | Cost Of Living | Vs. Elgin |
|---|---|---|---|
| Arlington Heights, IL | 76,220 | 124 | 1.2x |
| Mount Prospect, IL | 55,648 | 122 | 1.1x |
| Wheaton, IL | 53,453 | 128 | 1.2x |
| Hoffman Estates, IL | 51,186 | 118 | 1.1x |
| Bartlett, IL | 40,531 | 122 | 1.1x |
| Streamwood, IL | 39,055 | 111 | 1.0x |
| Carpentersville, IL | 37,544 | 105 | 1.0x |
| Glen Ellyn, IL | 28,270 | 135 | 1.3x |
| South Elgin, IL | 23,984 | 114 | 1.1x |
| Lake Zurich, IL | 19,727 | 127 | 1.2x |
