| Index | South Elgin | Illinois | National |
| Cost of living | 112 | 98 | 100 |
| Groceries | 101 | 100 | 100 |
| Health care | 98 | 100 | 100 |
| Housing | 138 | 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 |
Understanding the cost of living in South Elgin can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The South Elgin cost of living index is 112, which is 12% higher than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.
Housing costs are a major factor in the South Elgin cost of living index, and they often eat up a big chunk of your take-home pay. Unfortunately, in this area, housing expenses for both homeownership and rentals were 37.9% higher than what's typical in an average city. That includes the prices of homes and rents, as well as mortgage rates and insurance.
Is South Elgin affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in South Elgin, the median home price is 30.4% higher than the national average and monthly rent prices are 55.3% higher than the typical rates. Additionally, the median income levels play a role in affordability, with South Elgin boasting a median household income of $150,165, 84.6% higher than the national average.
Utilities: Similar to the prices of any other goods or services, utility expenditures can exhibit substantial variability, influenced by factors such as climate, energy sources accessibility, geographical location and state regulations. Costs related to electricity, water, heating, and waste disposal can fluctuate, whether higher or lower, contingent on the city or state. In South Elgin, the utilities index is 0.7% higher than the national average.
Groceries: Grocery prices have seen substantial hikes in the last 2-3 years, with some markets witnessing food cost increases of over 20% during this period. Conversely, certain markets have experienced only moderate upticks. These variations in food expenses can have a substantial impact on the overall cost of living in any locality. In South Elgin, the groceries index is 1.2% higher than the national average.
Subsidies: Certain cities or states may implement government subsidies or assistance programs with the goal of alleviating the cost of living pressures on their residents. These programs encompass a broad spectrum of support mechanisms, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farming subsidies. Areas offering fewer subsidies may experience a rise in their cost of living.
The cost of living estimates displayed for South 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 | $158,652 | $13,221 | $3,702 | $4,760 |
| Renters | $96,648 | $8,054 | $2,255 | $2,900 |
| 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. |
| Carpentersville, IL | 38,383 | 102 | 2.0% |
| Elgin, IL | 115,336 | 104 | 4.3% |
| Burlington, IL | 528 | 105 | 5.0% |
| East Dundee, IL | 3,318 | 105 | 5.0% |
| Glendale Heights, IL | 34,961 | 107 | 6.6% |
| South Elgin, IL | 24,226 | 112 | 12.0% |
| City | Population | Cost of Living Index | National Avg. |
| Pelham, AL | 24,223 | 101 | 0.7% |
| Cudahy, CA | 24,233 | 141 | 40.9% |
| Tumwater, WA | 24,235 | 126 | 26.3% |
| Monsey, NY | 24,236 | 169 | 69.1% |
| Bailey's Crossroads, VA | 24,246 | 136 | 35.6% |
| South Elgin, IL | 24,226 | 112 | 12.0% |
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