Cost of Living in Elgin, Illinois
Elgin has a population of about 114,934. The median household income is $90,282, median gross rent is $1,361/month, and the median home value is $273,000. These figures come from 2020-2024 ACS 5-Year estimates, the latest full-coverage Census baseline for U.S. cities.
How current is this? Census city data is released with a lag because it is survey-based and designed for consistent coverage across small and large places. Use it as an official affordability baseline; current apartment listings and mortgage rates may differ.
Is Elgin expensive to live in?
Compared with the national median in this dataset, rent in Elgin is 18% below the national median and home values are 27% below the national median. Household income here is 8% above the national median. Monthly rent represents roughly 18% of the median annual household income, a rough affordability signal for renters.
Frequently asked questions
What is the average rent in Elgin?
The median gross rent in Elgin, Illinois is $1,361 per month in the 2020-2024 ACS 5-Year estimates.
What is the median home price in Elgin?
The median owner-occupied home value in Elgin is $273,000 in the 2020-2024 ACS 5-Year estimates.
How much do people earn in Elgin?
The median household income in Elgin is $90,282 per year in the 2020-2024 ACS 5-Year estimates.
Data source: U.S. Census Bureau, 2020-2024 ACS 5-Year Estimates. Local database last refreshed 2026-07-11.