South Elgin cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexSouth ElginIllinoisNational
Cost of living index10699100
IndexSouth ElginIllinoisNational
Goods & Services index9698100
Groceries index10699100
Health care index104101100
Housing index12099100
Transportation index10097100
Utilities index103101100
A general overview of the cost of living index for South Elgin, IL is displayed above. In South Elgin, IL, the overall cost of living index is 106, which is 7% higher than the Illinois average and 6% higher than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of South Elgin, IL, the city's goods and services are 2% lower than the Illinois average and 4% lower than the U.S. average.

Did you know?

  • The cost of living in South Elgin is 7% higher than the Illinois average.
  • The cost of living in South Elgin is 6% higher than the national average.
  • The cost of housing in South Elgin is 20% higher than the national average.
  • Illinois general sales tax is 23% higher than the national average.
  • Illinois state income tax is 69% higher than the national average.

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Compare South Elgin, IL Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
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Cost of living index
Goods & Services index
Groceries index
Health care index
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Transportation index
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The salary calculator is used in order to provide a comparison of your current salary in South Elgin, IL to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to South Elgin, IL, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the South Elgin, IL salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$93,933$7,828$2,192$2,818
Renters$53,692$4,474$1,253$1,611
A good way to judge both the affordability of the housing and the cost of living is by simply calculating the maximum that a person should spend on housing in South Elgin, IL, otherwise known as the debt-to-income ratio (DTI). The safest way to live in the city is to avoid spending more than 28 percent of the gross income that one earns on costs that pertain to housing and no more than 36 percent on all expenses and debts. South Elgin, IL has a median income of about $93,933 for people who own homes. Based on that number, a person should spend a maximum of $2,192 on expenses related to housing. Renters have a slightly different median income, which is $53,692. Based on this average, renters should spend no more than $1,253 on all of their rental costs if they want to maintain a non-impoverished standard of living.

Illinois Sales Tax

StateGeneral Sales TaxWith Max Surtax
Illinois6.25%9.75%

Illinois Income Tax

StateIncome Tax (Low)Income Tax (High)
Illinois3.75%3.75%
For those who live in South Elgin, IL and want to know what the true cost of living is, they ought to look at both the Illinois income tax rate and the Illinois sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In Illinois, the sales tax is 6.25%, while the most you'll pay in surtax is 9.75%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in Illinois, the income tax rate ranges between 3.75% to 3.75%.

Goods & Services

ItemSouth ElginNational avg.Difference
Haircut $15.50$14.596.2%
Beauty Salon $37.40$34.687.8%
Toothpaste $3.31$2.4733.8%
Shampoo $1.53$1.0249.7%
Movie $10.26$9.874.0%
Bowling $3.51$4.3920.1%

Groceries

ItemSouth ElginNational avg.Difference
Ground Beef $4.21$4.486.0%
Fried Chicken $1.56$1.466.6%
Milk $2.65$2.3612.4%
Potatoes $2.78$3.069.2%
Pizza $8.86$9.244.1%
Beer $8.19$8.635.1%

Health Care

ItemSouth ElginNational avg.Difference
Optometrist $111.13$99.7811.4%
Doctor $129.44$105.0323.2%
Dentist $82.38$88.707.1%
Ibuprofen $8.99$9.414.5%
Lipitor $298.47$298.500.0%

Housing

ItemSouth ElginNational avg.Difference
Home Price $205,200.00$175,700.0016.8%
Avg. Mortgage Payment $1,023.97$1,081.035.3%
Apartment Rent $1,165.00$920.0026.6%

Transportation

ItemSouth ElginNational avg.Difference
Gasoline $2.03$2.093.1%
Tire Balancing $49.67$45.299.7%

Utilities

ItemSouth ElginNational avg.Difference
All Electricity$175.65$170.802.8%
Phone $29.20$28.263.3%
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, StatePopulationCost of Living IndexNational Avg.
Carpentersville, IL38,1281022%
Elgin, IL110,9061044%
East Dundee, IL3,0031055%
Glendale Heights, IL34,4361055%
Hanover Park, IL38,3021077%
South Elgin, IL22,1261066%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
South Holland, IL22,1231088%
Derry, NH22,12911616%
Pelham, AL22,10698-2%
Ruston, LA22,14990-10%
Crestview, FL22,09992-8%
South Elgin, IL22,1261066%
Source: The South Elgin, IL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.