Median rent is 20% lower in Elgin ($1,361/mo vs $1,701/mo). Buying is cheaper in Elgin, where the median home runs $273,000 versus $420,400. Households earn more in Elgin ($90,282 vs $75,475 a year). Taken together, Tampa 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
Elgin, IL
City B
Tampa, FL
How much would you need to earn in Tampa, FL to maintain your standard of living from Elgin, IL?
Equivalent salary in Tampa, FL
$74,990
You could earn $10 less (0% 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
Tampa
Florida
👥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 $1,701/mo in Tampa (20% gap). Home buyers face a steeper market in Tampa: the median home is $420,400 versus $273,000 in Elgin — 35% 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.
Elgin
Income tax: N/A
Sales tax: N/A
Tampa
Income tax: N/A
Sales tax: N/A
Air quality data is available for Tampa (avg AQI 64.0) but not yet for Elgin.
Pick Elgin if you prioritize higher median household income ($90,282/yr).
Pick Elgin if you prioritize cheaper rent ($1,361/mo median).
Is Elgin cheaper than Tampa?
Tampa 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 Tampa.
How much is rent in Elgin vs Tampa?
Median rent is $1,361/mo in Elgin, IL and $1,701/mo in Tampa, FL. Elgin, IL has the lower rent by about 20%.
Which has higher salaries — Elgin or Tampa?
Median household income is $90,282 in Elgin, IL and $75,475 in Tampa, FL. 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 Tampa?
State tax data is not yet available for one or both cities.
What salary do I need in Tampa to match my Elgin income?
To maintain the same purchasing power, a salary of $100,000 in Elgin, IL is equivalent to roughly $99,987 in Tampa, FL (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
