| Index | Elgin | Illinois | National |
| Cost of living | 104 | 98 | 100 |
| Groceries | 101 | 100 | 100 |
| Health care | 98 | 100 | 100 |
| Housing | 112 | 95 | 100 |
| Transportation | 102 | 101 | 100 |
| Utilities | 101 | 99 | 100 |
| Lifestyle & Entertainment | 102 | 100 | 100 |
| Household Items | 98 | 100 | 100 |
| Education & Childcare | 106 | 100 | 100 |
Knowing the cost of living in Elgin allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Elgin stands at 104, marking it 4% higher than the national average.
The cost of living in Elgin aligns closely with the national average when compared to other cities across the nation. Everyday essentials such as groceries, household expenses, health care and utility bills are priced at a level consistent with the average in similar urban areas. Elgin residents can anticipate that their daily expenses won't be significantly higher than those in an average city, ensuring that the cost of living remains manageable.
Locals have the inside scoop on their city. So, we polled 11 residents in Elgin to learn how they view the cost of living. We asked how they felt about the cost of living in their area, and if they thought that prices were increasing, decreasing or staying the same. The verdict? 64% find it reasonable with decreasing prices, but 36% think it's quite pricey, with prices that continue to rise.
Wondering if Elgin is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Elgin, for example, the median home price is 10.9% higher than what folks pay nationally, and monthly rent is 14.8% higher than the usual rates. Plus, income levels matter too, with Elgin boasting a median household income of $109,630, which is 34.8% higher than the national average.
Transportation: In cities with limited or no public transportation, residents may find it necessary to own and maintain vehicles, thereby elevating the cost of living. Monthly expenditures include fuel, insurance, routine maintenance and potential lease or financing commitments. In Elgin, the transportation index stands at 1.8% higher than the national average.
Taxes: Cities that enforce higher taxes, covering both sales taxes and income taxes, can be a factor contributing to a higher cost of living. Paying more in taxes for everyday essentials like clothing and food inevitably leads to higher expenses. A higher income tax rate can further contribute to an overall elevated cost of living. In Elgin, the baseline sales tax rate begins at 6.25%, and income tax rates start at 4.95%.
Healthcare: Healthcare costs and insurance premiums can undergo substantial fluctuations based on the city or state of residence. Elements such as the availability of healthcare facilities, out-of-pocket costs for medical consultations, dental expenses, prescription medication charges and specialized medical care fees all contribute to variations in the cost of living. In Elgin, healthcare costs are 2.5% lower than the national average.
The cost of living estimates displayed for Elgin are modeled using a U.S. average baseline of 100, helping provide a useful comparison of local living expenses. Housing calculations include U.S. Census home price and rental data, while all other values are AI-assisted estimates based on regional cost patterns, climate, transportation, and everyday spending expectations. These values are intended for directional comparisons across cities.
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| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $132,611 | $11,051 | $3,094 | $3,979 |
| Renters | $67,199 | $5,600 | $1,568 | $2,016 |
| State | General Sales Tax | With Max Surtax |
| Illinois | 6.25% | 10.25% |
| State | Income Tax (Low) | Income Tax (High) |
| Illinois | 4.95% | 4.95% |
| City | Population | Cost of Living Index | National Avg. |
| Union, IL | 699 | 99 | 1.2% |
| Carpentersville, IL | 38,383 | 102 | 2.0% |
| Burlington, IL | 528 | 105 | 5.0% |
| East Dundee, IL | 3,318 | 105 | 5.0% |
| Glendale Heights, IL | 34,961 | 107 | 6.6% |
| Elgin, IL | 115,336 | 104 | 4.3% |
| City | Population | Cost of Living Index | National Avg. |
| Peoria, IL | 115,301 | 93 | 7.1% |
| Antioch, CA | 115,196 | 149 | 49.3% |
| Manchester, NH | 114,918 | 111 | 11.1% |
| Miami Gardens, FL | 114,672 | 112 | 11.8% |
| Everett, WA | 114,503 | 133 | 33.2% |
| Elgin, IL | 115,336 | 104 | 4.3% |
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