Median rent is 5% lower in Elgin ($1,361/mo vs $1,440/mo). Buying is cheaper in Elgin, where the median home runs $273,000 versus $334,100. Households earn more in Elgin ($90,282 vs $77,902 a year). Overall, the two cities have a nearly identical cost of living index (102.5).
City A
Chicago, IL
City B
Elgin, IL
How much would you need to earn in Elgin, IL to maintain your standard of living from Chicago, IL?
Equivalent salary in Elgin, IL
$75,000
Costs are about the same in both cities.
Based on BEA Regional Price Parity (cost index) for each metro area. This estimates overall purchasing power; it does not account for taxes or take-home pay differences.
Metric
Chicago
Illinois
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: Census ACS, BEA, HUD Fair Market Rents, EPA AirNow, Tax Foundation
Median rents are similar in both cities: $1,440/mo in Chicago and $1,361/mo in Elgin. Median home values are within 18% of each other: $334,100 in Chicago and $273,000 in Elgin.
Metric
Chicago
Elgin
Software Developer
Registered Nurse
Elementary Teacher
Electrician
Accountant
Higher wage highlighted · BLS OEWS 2023 (metro-level data)
State tax data is not yet available for these cities.
Chicago
Income tax: N/A
Sales tax: N/A
Elgin
Income tax: N/A
Sales tax: N/A
Air quality data is available for Chicago (avg AQI 31.0) but not yet for Elgin.
Pick Elgin if you prioritize higher median household income ($90,282/yr).
Chicago is cheaper overall, with a cost of living index of 102.5 versus 102.5 (US average = 100). That means prices run about 0% lower in Chicago.
Median rent is $1,440/mo in Chicago, IL and $1,361/mo in Elgin, IL. Elgin, IL has the lower rent by about 5%.
Median household income is $77,902 in Chicago, IL and $90,282 in Elgin, IL. Elgin, IL has the higher median income. Note that BLS occupational wages in the table above show wages for specific jobs.
Air quality data is not yet available for one or both cities.
State tax data is not yet available for one or both cities.
To maintain the same purchasing power, a salary of $100,000 in Chicago, IL is equivalent to roughly $100,000 in Elgin, IL (using the BEA Regional Price Parity ratio). Use the salary calculator above for any income amount.
Data last updated: June 1, 2026 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology
