A+
4%
Overall NAT. AVG.
4%
Goods & Services NAT. AVG.
3%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Elgin Texas National
Cost of living9692100
Goods & Services9696100
Groceries9896100
Health care9894100
Housing9783100
Transportation8992100
Utilities95104100

An Overview of Cost of Living in Elgin, TX

The cost of living in Elgin affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Elgin is 96, which is 4% lower than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

Everyday expenditures like food, housing, goods and services, transportation and health care in Elgin are priced in a manner consistent with other areas. This means that residents of Elgin can anticipate their daily expenses remaining reasonably similar to those in an average city, thereby supporting a manageable cost of living.

Is Elgin Affordable?

Is Elgin an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Elgin is 7.2% lower than the national average, while the average monthly rent prices are 6.2% higher than average. The affordability of any location can also be influenced by median income levels. Elgin has a median household income of $70,313, which is 27.1% higher than the national average.

What Factors can Influence the Cost of Living in Elgin?

Utilities: Much like any other costs, utility expenses can exhibit considerable variations, influenced by factors such as climate, available energy sources, geographic location and state regulations. The costs associated with electricity, water, heating, and waste disposal can vary significantly depending on the city or state in question. In Elgin, the utilities index stands at 5.1% lower than the national average.

Groceries: Over the past 2-3 years, grocery expenses have experienced substantial upward trends. In certain markets, food prices have surged by over 20% during this period, while others have witnessed more modest increases. These fluctuations in food costs can wield significant influence over the overall cost of living in a given region. In Elgin, the groceries index is 2.4% lower than the national average.

Healthcare: Healthcare expenses and insurance premiums can vary significantly depending on the specific city or state. Factors such as accessibility to healthcare facilities, out-of-pocket expenses for doctor's visits, dental care expenses, prescription costs and specialized medical care fees can all influence the overall cost of living. In Elgin, healthcare costs are 1.8% lower than the national average.

Where is the Data From?

The Elgin cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. Published on a quarterly basis, it compiles data from more than 300 independent researchers, encompassing over 60 goods and services. These items have been meticulously selected to represent various consumer expenditure categories, in 6 categories. Weightings assigned to cost differentials draw from government survey data tracking spending patterns among professional and executive households. While the C2ER index excludes data on sales or income tax rates, AreaVibes incorporates tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Elgin is 3% higher than the Texas average
  • The cost of living in Elgin is 4% lower than the national average
  • Elgin housing is 3% lower than the national average
  • Texas general sales tax is 22% higher than the national average
  • Texas state income tax is 100% lower than the national average

Most Affordable Places to Live in and Around Elgin

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Compare Elgin, TX Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$81,330$6,778$1,898$2,440
      Renters$40,625$3,385$948$1,219
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Elgin, TX, as well as what the overall cost of living might be. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payments and not more than 36 percent of income on all expenses and debts. In Elgin, homeowners have a median income of $81,330. Using that number, a maximum of $1,898 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $40,625, which means there is a maximum of $948 to be spent on the costs of renting a home or apartment.

      Texas Sales Tax

      State General Sales Tax With Max Surtax
      Texas 6.25% 8.25%

      Texas Income Tax

      State Income Tax (Low) Income Tax (High)
      Texas 0% 0%

      Goods & Services

      Item Elgin National avg. Difference
      Haircut $30.11$24.2624.1%
      Beauty Salon $53.43$45.5617.3%
      Toothpaste $3.66$3.701.1%
      Shampoo $1.23$1.283.9%
      Movie $12.82$12.135.7%
      Bowling $18.22$18.001.2%

      Groceries

      Item Elgin National avg. Difference
      Ground Beef $5.49$5.846.0%
      Fried Chicken $1.67$1.576.2%
      Milk $4.64$4.670.7%
      Potatoes $4.87$4.931.2%
      Pizza $9.57$12.0920.8%
      Beer $10.18$10.412.3%

      Health Care

      Item Elgin National avg. Difference
      Optometrist $117.38$125.686.6%
      Doctor $108.42$135.7820.1%
      Dentist $124.98$113.2910.3%
      Ibuprofen $10.52$10.651.2%
      Lipitor $504.11$468.607.6%

      Housing

      Item Elgin National avg. Difference
      Home Price $171,400.00$184,700.007.2%
      Avg. Mortgage Payment $2,434.44$2,346.693.7%
      Apartment Rent $1,008.00$949.006.2%

      Transportation

      Item Elgin National avg. Difference
      Gasoline $3.06$3.4611.7%
      Tire Balancing $53.75$59.9210.3%

      Utilities

      Item Elgin National avg. Difference
      All Electricity $172.60$193.9911.0%
      Phone $200.15$192.254.1%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Camp Swift, TX6,5298613.8%
      Coupland, TX377964.4%
      Garfield, TX2,506963.5%
      Circle D-KC Estates, TX2,761981.7%
      McDade, TX1,285991.0%
      Elgin, TX10,231964.3%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      East Stroudsburg, PA10,2321011.0%
      Browns Mills, NJ10,2281044.2%
      Golden Hills, CA10,23412322.5%
      Shasta Lake, CA10,23511211.7%
      Keokuk, IA10,2258415.5%
      Elgin, TX10,231964.3%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.