Median rent is 14% lower in Elgin ($1,260/mo vs $1,458/mo). Buying is cheaper in Elgin, where the median home runs $252,400 versus $381,900. Households earn more in Elgin ($88,316 vs $77,041 a year). Taken together, Phoenix is the more affordable choice with a cost index of 103.9 against 105.7 — about 2% lower overall prices. After adjusting income for local prices, a typical paycheck stretches further in Elgin, IL.
Quick verdict
Phoenix is 2% cheaper overall
Cost index: 103.9 in Phoenix vs 105.7 in Elgin (US average = 100)
City A
Elgin, IL
City B
Phoenix, AZ
How much would you need to earn in Phoenix, AZ to maintain your standard of living from Elgin, IL?
Equivalent salary in Phoenix, AZ
$73,707
You could earn $1,293 less (2% lower) and break even.
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
Elgin
Illinois
Phoenix
Arizona
👥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 $1,458/mo in Phoenix (14% gap). Home buyers face a steeper market in Phoenix: the median home is $381,900 versus $252,400 in Elgin — 34% more expensive.
1BR Fair Market Rent
2BR Fair Market Rent
BLS OEWS 2023 — metro-level data
Illinois's top income tax rate is 4.95% versus 2.50% in Arizona, so Phoenix is more tax-friendly for high earners. Sales tax is 6.25% in Illinois and 5.60% in Arizona; Phoenix has the lower rate (local add-ons may apply in both).
Elgin
Income tax: 4.95%
Sales tax: 6.25%
Phoenix
Income tax: 2.50%
Sales tax: 5.60%
Air quality data is available for Phoenix (avg AQI 52.0) but not yet for Elgin.
Pick Elgin if you prioritize higher median household income ($88,316/yr).
Pick Elgin if you prioritize cheaper rent ($1,260/mo median).
Pick Phoenix if you prioritize lower state income tax (2.50%).
Is Elgin cheaper than Phoenix?
Phoenix is cheaper overall, with a cost of living index of 103.9 versus 105.7 (US average = 100). That means prices run about 2% lower in Phoenix.
How much is rent in Elgin vs Phoenix?
Median rent is $1,260/mo in Elgin, IL and $1,458/mo in Phoenix, AZ. Elgin, IL has the lower rent by about 14%.
Which has higher salaries — Elgin or Phoenix?
Median household income is $88,316 in Elgin, IL and $77,041 in Phoenix, AZ. 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 — Elgin or Phoenix?
Illinois's top income tax rate is 4.95% and Arizona's is 2.50%. Phoenix, AZ has the lower rate.
What salary do I need in Phoenix to match my Elgin income?
To maintain the same purchasing power, a salary of $100,000 in Elgin, IL is equivalent to roughly $98,276 in Phoenix, AZ (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