Cost of living in Elgin, Illinois
Elgin, IL cost of living: median rent $1,361/month, home value $273,000. Rent by bedrooms, owner costs, rent burden and property taxes vs. Illinois.
Median gross rent in Elgin is $1,361 per month (±$65), 3.7% below the U.S. survey median. Median owner-occupied home value is $273,000. These are ACS 2020–2024 estimates in 2024 dollars, rather than current asking prices.
Housing costs compared with state and country
| Measure / survey universe | City estimate ± MOE | State estimate ± MOE | U.S. estimate ± MOE |
|---|---|---|---|
| Median household income Households · USD/year | $90,282 ±$3,200 | $83,390 ±$362 | $80,734 ±$166 |
| Median owner-occupied home value Owner-occupied housing units · USD | $273,000 ±$6,383 | $263,300 ±$797 | $332,700 ±$236 |
| Median gross rent Renter-occupied units paying cash rent · USD/month | $1,361 ±$65 | $1,274 ±$5 | $1,413 ±$2 |
| Monthly owner costs with a mortgage Owner-occupied units with a mortgage · USD/month | $2,016 ±$61 | $1,987 ±$6 | $1,963 ±$1 |
| Monthly owner costs without a mortgage Owner-occupied units without a mortgage · USD/month | $862 ±$25 | $792 ±$4 | $638 ±$1 |
Gross rent includes contract rent plus estimated tenant-paid utilities. It includes existing leases collected during the survey window and is not the rent for a specified bedroom count. Median selected monthly owner costs include mortgage payments where applicable, real estate taxes, insurance, utilities and relevant fees. Mortgage-free housing still has recurring costs.
The ratio of median home value to median household income is 3.0. Dividing these two medians does not pair the income of a buyer with the price of that buyer’s home, and cannot determine an affordable mortgage payment. The city and state tables use the same survey period, currency basis and source definitions. Differences in point estimates are descriptive; they are not tests of statistical significance.
How does rent differ by bedroom count?
| Bedrooms | Monthly gross rent | 90% margin of error | Precision |
|---|---|---|---|
| No bedroom (studio) | $913 | ±$69 | Estimate with MOE |
| 1 bedroom | $1,126 | ±$62 | Estimate with MOE |
| 2 bedrooms | $1,375 | ±$53 | Estimate with MOE |
| 3 bedrooms | $1,722 | ±$120 | Estimate with MOE |
| 4 bedrooms | $1,848 | ±$130 | Estimate with MOE |
| 5 or more bedrooms | Unavailable | Unavailable | Unavailable |
Census table B25031 describes renter-occupied units paying cash rent within this exact place geography. Gross rent includes contract rent and estimated tenant-paid utilities. These survey medians include existing leases across 2020–2024; they are not current apartment listings. Missing categories stay unavailable, and open-ended medians remain ranges. Small bedroom categories can have large margins of error. Download source values and provenance .
Housing units and occupancy
The city has an estimated 40,523 housing units (±1,073). A housing unit can be occupied or vacant. Vacant units include categories such as seasonal use and units unavailable for rent, so vacancies are not automatically apartments a mover can lease.
| Category | Count ± MOE | Share ± MOE (pp) | Illinois | U.S. |
|---|---|---|---|---|
| Occupied | 39,317 ±1,048 | 97.0% ±0.3 pp | 92.3% | 89.9% |
| Vacant | 1,206 ±317 | 3.0% ±0.8 pp | 7.7% | 10.1% |
| Category | Count ± MOE | Share ± MOE (pp) | Illinois | U.S. |
|---|---|---|---|---|
| Owner occupied | 28,288 ±1,196 | 71.9% ±2.4 pp | 67.1% | 65.2% |
| Renter occupied | 11,029 ±827 | 28.1% ±2.0 pp | 32.9% | 34.8% |
How much income goes to rent?
| Category | Count ± MOE | Share ± MOE (pp) | Illinois | U.S. |
|---|---|---|---|---|
| Less than 20% of household income | 3,068 ±527 | 27.8% ±4.3 pp | 25.8% | 23.1% |
| 20% to less than 30% | 2,298 ±426 | 20.8% ±3.5 pp | 22.6% | 22.4% |
| 30% to less than 50% | 2,522 ±469 | 22.9% ±3.9 pp | 21.6% | 23.5% |
| 50% or more | 2,638 ±491 | 23.9% ±4.1 pp | 22.9% | 24.1% |
| Rent-to-income ratio not computed | 503 ±167 | 4.6% ±1.5 pp | 7.2% | 6.9% |
This table’s percentages use all cash-rent units, including those with a ratio not computed. There are 10,526 units with a computed rent-to-income ratio. The “30% to less than 50%” and “50% or more” rows identify rent burdens in the source data; their displayed shares are not directly comparable with a publication that excludes uncomputed ratios from its denominator. Counting a high burden does not tell us why a household chose its home or predict a new renter’s circumstances.
Property taxes paid by homeowners in Elgin
Homeowners in Elgin paid a median of $6,184 a year in real estate taxes during 2020–2024, 16.7% higher than the Illinois median of $5,298. The U.S. median is $3,119. This is the tax owners reported paying, so it combines tax rates, assessed values and any exemptions; it is not a published tax rate and does not predict the bill on a particular home.
| Owner-occupied homes | Elgin ± MOE | Illinois ± MOE | U.S. ± MOE |
|---|---|---|---|
| All owner-occupied homes | $6,184 ±$126 | $5,298 ±$22 | $3,119 ±$4 |
| Homes with a mortgage | $6,506 ±$148 | $5,833 ±$28 | $3,489 ±$4 |
| Homes without a mortgage | $5,320 ±$302 | $4,463 ±$30 | $2,576 ±$4 |
How old is the housing, and what type is it?
The median housing unit in Elgin was built in 1977 (±2), compared with 1971 in Illinois and 1980 nationally. Single-family houses, detached or attached, make up 75.9% of all housing units; buildings with 20 or more units make up 4.8%. Year built is reported by residents and is less precise for older buildings. These tables count vacant as well as occupied units.
| Category | Count ± MOE | Share ± MOE (pp) | Illinois | U.S. |
|---|---|---|---|---|
| 2020 or later | 586 ±171 | 1.4% ±0.4 pp | 0.7% | 2.0% |
| 2010–2019 | 2,382 ±314 | 5.9% ±0.8 pp | 5.0% | 9.4% |
| 2000–2009 | 5,608 ±751 | 13.8% ±1.8 pp | 11.2% | 13.6% |
| 1980–1999 | 9,730 ±822 | 24.0% ±1.9 pp | 19.7% | 25.3% |
| 1960–1979 | 9,920 ±971 | 24.5% ±2.3 pp | 25.7% | 24.0% |
| 1940–1959 | 4,638 ±512 | 11.4% ±1.2 pp | 17.5% | 13.9% |
| 1939 or earlier | 7,659 ±648 | 18.9% ±1.5 pp | 20.2% | 11.7% |
| Category | Count ± MOE | Share ± MOE (pp) | Illinois | U.S. |
|---|---|---|---|---|
| Single-family detached | 25,096 ±1,015 | 61.9% ±1.9 pp | 58.2% | 61.3% |
| Single-family attached | 5,641 ±606 | 13.9% ±1.4 pp | 6.1% | 6.2% |
| 2–4 units | 3,772 ±501 | 9.3% ±1.2 pp | 11.6% | 7.7% |
| 5–19 units | 2,840 ±480 | 7.0% ±1.2 pp | 10.3% | 8.8% |
| 20 or more units | 1,954 ±338 | 4.8% ±0.8 pp | 11.5% | 10.3% |
| Mobile home | 1,220 ±448 | 3.0% ±1.1 pp | 2.3% | 5.6% |
| Boat, RV, van, etc. | 0 ±30 · low precision | 0.0% ±0.1 pp · low precision | 0.0% | 0.1% |
| Category | Count ± MOE | Share ± MOE (pp) | Illinois | U.S. |
|---|---|---|---|---|
| No bedroom | 1,040 ±245 | 2.6% ±0.6 pp | 3.1% | 2.9% |
| 1 bedroom | 2,991 ±461 | 7.4% ±1.1 pp | 11.5% | 10.9% |
| 2 bedrooms | 12,146 ±1,033 | 30.0% ±2.4 pp | 27.7% | 25.0% |
| 3 bedrooms | 14,571 ±884 | 36.0% ±2.0 pp | 35.8% | 38.7% |
| 4 bedrooms | 8,025 ±693 | 19.8% ±1.6 pp | 16.9% | 17.5% |
| 5 or more bedrooms | 1,750 ±316 | 4.3% ±0.8 pp | 4.8% | 4.9% |
Household incomes behind the median
At the median gross rent of $1,361 a month, a household would need about $54,400 a year to keep rent at 30% of income, a common affordability benchmark. That income falls in the $50,000–$74,999 bracket; 26.7% of all Elgin households, owners included, report incomes in lower brackets. The brackets cover every household, so they show how widely incomes spread around the $90,282 median.
| Category | Count ± MOE | Share ± MOE (pp) | Illinois | U.S. |
|---|---|---|---|---|
| Under $25,000 | 3,924 ±557 | 10.0% ±1.4 pp | 14.6% | 14.6% |
| $25,000–$49,999 | 6,572 ±790 | 16.7% ±2.0 pp | 16.0% | 16.7% |
| $50,000–$74,999 | 5,350 ±595 | 13.6% ±1.5 pp | 14.8% | 15.5% |
| $75,000–$99,999 | 5,832 ±645 | 14.8% ±1.6 pp | 12.6% | 12.6% |
| $100,000–$149,999 | 8,800 ±951 | 22.4% ±2.3 pp | 18.0% | 17.5% |
| $150,000–$199,999 | 4,536 ±435 | 11.5% ±1.1 pp | 10.1% | 9.6% |
| $200,000 or more | 4,303 ±522 | 10.9% ±1.3 pp | 13.8% | 13.4% |
Check a specific address before moving
City averages help compare places. A particular home’s school assignment, transit service and flood-map coverage need checks at the address.
- FEMA Flood Map Service Center — search the address, read the effective map and its date, and check any map changes. An unmapped location does not establish an absence of flood risk.
- NCES public school district directory — find district contact information, then use the district’s official address locator or enrollment office to confirm school assignment. A city name or district boundary alone does not assign a school.
- FCC National Broadband Map — check reported service at the exact location, then confirm availability and terms with the provider.
- Check the official transit operator’s route map and timetable for the address and your actual travel hours; the citywide commuting shares above do not measure service on a particular street.
What these figures do not measure
This page describes housing costs reported in the 2020–2024 survey, not current listings or a full cost-of-living index. Food, energy, transport, childcare and other prices are not measured for individual cities, and a metropolitan price index such as BEA regional price parities would describe the surrounding region rather than Elgin itself. For a move, get current lease or purchase quotes for the unit and address you are considering.
Use the city comparison to see these measures across alternatives , read the Elgin demographics , or report a correction.