Median rent is 24% lower in Elgin ($1,260/mo vs $1,655/mo). Buying is cheaper in Elgin, where the median home runs $252,400 versus $512,700. Households earn more in Austin ($91,461 vs $88,316 a year). Taken together, Austin is the more affordable choice with a cost index of 98.8 against 105.7 — about 7% lower overall prices. After adjusting income for local prices, a typical paycheck stretches further in Austin, TX.
Quick verdict
Austin is 7% cheaper overall
Cost index: 98.8 in Austin vs 105.7 in Elgin (US average = 100)
City A
Austin, TX
City B
Elgin, IL
How much would you need to earn in Elgin, IL to maintain your standard of living from Austin, TX?
Equivalent salary in Elgin, IL
$80,234
You'd need $5,234 more (7% higher).
Based on BEA Regional Price Parity (cost index) for each city's metro area. A rough estimate of overall purchasing power, not tax or take-home pay.
Metric
Austin
Texas
Elgin
Illinois
👥Population
💰Median Household Income
Annual
🏠Median Gross Rent
Per month
🏡Median Home Value
📊Cost of Living Index
US avg = 100
🔑1BR Fair Market Rent
HUD FMR
🔑2BR Fair Market Rent
HUD FMR
🔑3BR Fair Market Rent
HUD FMR
🌬️Air Quality Index
Lower = cleaner
🏛️Top State Income Tax
Top marginal rate
🧾State Sales Tax
Statewide base rate
🎂Median Age
Years
✓ = better value · Sources: US Census ACS, BEA RPP, HUD FMR, EPA AirNow, Tax Foundation
Renters will find significantly cheaper housing in Elgin — median rent of $1,260/mo versus $1,655/mo in Austin, a 24% difference. Home buyers face a steeper market in Austin: the median home is $512,700 versus $252,400 in Elgin — 51% more expensive.
1BR Fair Market Rent
2BR Fair Market Rent
BLS OEWS 2023 — metro-level data
Texas has no state income tax, while Illinois tops out at 4.95% — giving Austin a clear advantage for high earners. Sales tax is 6.25% in Texas and 6.25% in Illinois; Elgin has the lower rate (local add-ons may apply in both).
Austin
Income tax: None
Sales tax: 6.25%
Elgin
Income tax: 4.95%
Sales tax: 6.25%
Air quality data is available for Austin (avg AQI 47.0) but not yet for Elgin.
Pick Austin if you prioritize lower overall cost of living (index 98.8 vs 105.7).
Pick Elgin if you prioritize cheaper rent ($1,260/mo median).
Pick Austin if you prioritize no state income tax.
Is Austin cheaper than Elgin?
Austin is cheaper overall, with a cost of living index of 98.8 versus 105.7 (US average = 100). That means prices run about 7% lower in Austin.
How much is rent in Austin vs Elgin?
Median rent is $1,655/mo in Austin, TX and $1,260/mo in Elgin, IL. Elgin, IL has the lower rent by about 24%.
Which has higher salaries — Austin or Elgin?
Median household income is $91,461 in Austin, TX and $88,316 in Elgin, IL. Austin, TX has the higher median income. Note that BLS occupational wages in the table above show wages for specific jobs.
Which city has better air quality?
Air quality data is not yet available for one or both cities.
Which has lower taxes — Austin or Elgin?
Texas has no state income tax. Illinois has a top rate of 4.95%.
What salary do I need in Elgin to match my Austin income?
To maintain the same purchasing power, a salary of $100,000 in Austin, TX is equivalent to roughly $106,979 in Elgin, IL (using the BEA Regional Price Parity ratio). Use the salary calculator above for any income amount.
Data last updated: December 1, 2024 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology