Median rent is 9% lower in Elgin ($1,260/mo vs $1,380/mo). Buying is cheaper in Elgin, where the median home runs $252,400 versus $315,200. Households earn more in Elgin ($88,316 vs $75,134 a year). Overall, the two cities have a nearly identical cost of living index (105.7).
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 city's metro area. A rough estimate of overall purchasing power, not tax or take-home pay.
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: US Census ACS, BEA RPP, HUD FMR, EPA AirNow, Tax Foundation
Median rent is modestly lower in Elgin at $1,260/mo compared to $1,380/mo in Chicago (9% gap). Median home values are within 20% of each other: $315,200 in Chicago and $252,400 in Elgin.
1BR Fair Market Rent
2BR Fair Market Rent
BLS OEWS 2023 — metro-level data
Illinois's top income tax rate is 4.95% versus 4.95% in Illinois, so Elgin is more tax-friendly for high earners. Sales tax is 6.25% in Illinois and 6.25% in Illinois; Elgin has the lower rate (local add-ons may apply in both).
Chicago
Income tax: 4.95%
Sales tax: 6.25%
Elgin
Income tax: 4.95%
Sales tax: 6.25%
Air quality data is available for Chicago (avg AQI 21.0) but not yet for Elgin.
Pick Elgin if you prioritize higher median household income ($88,316/yr).
Is Chicago cheaper than Elgin?
Chicago is cheaper overall, with a cost of living index of 105.7 versus 105.7 (US average = 100). That means prices run about 0% lower in Chicago.
How much is rent in Chicago vs Elgin?
Median rent is $1,380/mo in Chicago, IL and $1,260/mo in Elgin, IL. Elgin, IL has the lower rent by about 9%.
Which has higher salaries — Chicago or Elgin?
Median household income is $75,134 in Chicago, IL and $88,316 in Elgin, IL. Elgin, IL 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 — Chicago or Elgin?
Illinois's top income tax rate is 4.95% and Illinois's is 4.95%. Elgin, IL has the lower rate.
What salary do I need in Elgin to match my Chicago income?
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: December 1, 2024 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology