Elgin, Illinois has an overall cost of living index of 105.7, which is 5.7 points above the US average of 100 — making it pricier than most American cities. Renters pay a median of $1,260 per month, while the typical home is valued around $252,400. Households earn a median of $88,316 per year, leaving rent at a manageable share of income for many residents. The figures below cover housing, local wages by occupation, demographics, and air quality, all drawn from the US Census Bureau, BEA, HUD, and EPA.
Median Household Income
$88,316
Annual · Census ACS
Median Gross Rent
$1,260
Per month · Census ACS
Median Home Value
$252,400
Census ACS
Cost of Living Index
105.7
BEA RPP · US avg = 100
1BR Fair Market Rent
N/A
HUD FMR
2BR Fair Market Rent
N/A
HUD FMR
3BR Fair Market Rent
N/A
HUD FMR
HUD Fair Market Rent = 40th percentile gross rent · FY2024
Each category is indexed to the US average of 100. Below 100 = cheaper than average.
Overall
105.7
Goods
106.6
Rents / Housing
111.2
Services
85.5
Source: BEA Regional Price Parities (metro-level)
State Income Tax
4.95%
Top marginal rate
State Sales Tax
6.25%
Statewide base rate (local add-ons may apply)
Source: Tax Foundation (2024)
| Occupation | Median Annual Wage |
|---|---|
| 💻Software Developer | $127,960 |
| 🏥Registered Nurse | $90,810 |
| 📚Elementary Teacher | $73,830 |
| ⚡Electrician | $91,560 |
| 📊Accountant | $89,490 |
Source: BLS OEWS 2023 (metro-level data)
Population
114,106
Latest estimate
Median Age
36.3 yrs
Census ACS
🌬️
AQI data not available
Source: EPA AirNow
What is the cost of living index for Elgin?
Elgin has a Regional Price Parity (RPP) index of 105.7. The US national average is 100, so Elgin is 5.7 points above the national average.
What is the median rent in Elgin?
The median gross rent in Elgin is $1,260 per month according to US Census ACS data.
What is the median household income in Elgin?
The median household income in Elgin is $88,316 per year.
What is the median home value in Elgin?
The median home value in Elgin is $252,400 based on the latest Census ACS survey.
How is the air quality in Elgin?
Air quality data for Elgin is not yet available.
What are the taxes like in Elgin?
Illinois has a top state income tax rate of 4.95% and a statewide sales tax of 6.25% (local rates may add to this). Source: Tax Foundation, 2024.
Data last updated: December 1, 2024 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology