Median rent is 12% lower in Elk Grove Village ($1,574/mo vs $1,779/mo). Buying is cheaper in Elk Grove Village, where the median home runs $334,400 versus $751,700. Households earn more in Elk Grove Village ($95,216 vs $79,713 a year).
City A
Elk Grove Village, IL
City B
New York, NY
How much would you need to earn in New York, NY to maintain your standard of living from Elk Grove Village, IL?
A cost-of-living index isn't available for one of these cities yet, so we can't compute an equivalent salary.
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
Elk Grove Village
Illinois
New York
New York
👥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 Elk Grove Village at $1,574/mo compared to $1,779/mo in New York (12% gap). Home buyers face a steeper market in New York: the median home is $751,700 versus $334,400 in Elk Grove Village — 56% 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 10.90% in New York, so Elk Grove Village is more tax-friendly for high earners. Sales tax is 6.25% in Illinois and 4.00% in New York; New York has the lower rate (local add-ons may apply in both).
Elk Grove Village
Income tax: 4.95%
Sales tax: 6.25%
New York
Income tax: 10.90%
Sales tax: 4.00%
Air quality data is available for New York (avg AQI 61.0) but not yet for Elk Grove Village.
Pick Elk Grove Village if you prioritize higher median household income ($95,216/yr).
Pick Elk Grove Village if you prioritize cheaper rent ($1,574/mo median).
Pick Elk Grove Village if you prioritize lower state income tax (4.95%).
Is Elk Grove Village cheaper than New York?
Cost of living index data is not yet available for one or both cities.
How much is rent in Elk Grove Village vs New York?
Median rent is $1,574/mo in Elk Grove Village, IL and $1,779/mo in New York, NY. Elk Grove Village, IL has the lower rent by about 12%.
Which has higher salaries — Elk Grove Village or New York?
Median household income is $95,216 in Elk Grove Village, IL and $79,713 in New York, NY. Elk Grove Village, 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 — Elk Grove Village or New York?
Illinois's top income tax rate is 4.95% and New York's is 10.90%. Elk Grove Village, IL has the lower rate.
What salary do I need in New York to match my Elk Grove Village income?
RPP data needed for salary equivalence calculation is not yet available.
Data last updated: December 1, 2024 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology