Median rent is 18% lower in Elgin ($1,361/mo vs $1,658/mo). Buying is cheaper in Elgin, where the median home runs $273,000 versus $361,300. Households earn more in Elgin ($90,282 vs $66,381 a year). Taken together, Clearwater is the more affordable choice with a cost index of 102.5 against 102.5 — about 0% lower overall prices. After adjusting income for local prices, a typical paycheck stretches further in Elgin, IL.
City A
Clearwater, FL
City B
Elgin, IL
How much would you need to earn in Elgin, IL to maintain your standard of living from Clearwater, FL?
Equivalent salary in Elgin, IL
$75,010
You'd need $10 more (0% 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
Clearwater
Florida
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 $1,361/mo compared to $1,658/mo in Clearwater (18% gap). Home buyers face a steeper market in Clearwater: the median home is $361,300 versus $273,000 in Elgin — 24% more expensive.
1BR Fair Market Rent
2BR Fair Market Rent
BLS OEWS 2023 — metro-level data
State tax data is not yet available for these cities.
Clearwater
Income tax: N/A
Sales tax: N/A
Elgin
Income tax: N/A
Sales tax: N/A
Air quality data is not yet available for these cities.
Pick Elgin if you prioritize higher median household income ($90,282/yr).
Pick Elgin if you prioritize cheaper rent ($1,361/mo median).
Is Clearwater cheaper than Elgin?
Clearwater 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 Clearwater.
How much is rent in Clearwater vs Elgin?
Median rent is $1,658/mo in Clearwater, FL and $1,361/mo in Elgin, IL. Elgin, IL has the lower rent by about 18%.
Which has higher salaries — Clearwater or Elgin?
Median household income is $66,381 in Clearwater, FL 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.
Which city has better air quality?
Air quality data is not yet available for one or both cities.
Which has lower taxes — Clearwater or Elgin?
State tax data is not yet available for one or both cities.
What salary do I need in Elgin to match my Clearwater income?
To maintain the same purchasing power, a salary of $100,000 in Clearwater, FL is equivalent to roughly $100,013 in Elgin, IL (using the BEA Regional Price Parity ratio). Use the salary calculator above for any income amount.
Data last updated: December 1, 2026 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology
