salaryRent is higher than in 68% of U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards.
How much money do I need?
To rent here comfortably, you should earn about $79,520 a year. That is $38 an hour at a full-time job.
Is rent cheaper than other Illinois cities?
No. Rent here is more expensive than in most of Illinois. It is number 267 of 334 cities from cheapest to most expensive.
How much do households earn in Elgin?
Share of households by yearly income. 30.5% of households earn $100,000 or more.
Rent by apartment size in Elgin
| Size | Elgin | U.S. average |
|---|---|---|
| Studio | $1,010 | $1,338 |
| 1 bedroom | $1,245 | $1,324 |
| 2 bedrooms | $1,521 | $1,509 |
| 3 bedrooms | $1,904 | $1,698 |
| 4 bedrooms | $2,044 | $2,098 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Elgin overall?
Everyday prices in the Chicago-Naperville-Elgin metro area are 4% above the U.S. average (index 103.6, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024.
Taxes and bills in Elgin
Life in Elgin
What jobs pay in Elgin
| Job | Median pay | Rent / pay |
|---|---|---|
| Lawyer | $165,660 | 14.4% |
| Pharmacist | $140,880 | 16.9% |
| Software Developer | $134,380 | 17.8% |
| Nurse Practitioner | $131,740 | 18.1% |
| Physician Assistant | $127,940 | 18.6% |
| Operations Manager | $109,390 | 21.8% |
| Police Officer | $107,810 | 22.1% |
| Computer Systems Analyst | $103,490 | 23.1% |
| Plumber | $103,380 | 23.1% |
| Electrician | $102,350 | 23.3% |
| Registered Nurse | $100,490 | 23.7% |
| Dental Hygienist | $100,260 | 23.8% |
| Civil Engineer | $100,160 | 23.8% |
| Firefighter | $82,820 | 28.8% |
| Accountant | $82,360 | 29.0% |
| Carpenter | $80,440 | 29.7% |
| Market Research Analyst | $80,400 | 29.7% |
| Elementary School Teacher | $78,390 | 30.4% |
| Licensed Practical Nurse | $78,070 | 30.6% |
| HVAC Technician | $77,960 | 30.6% |
| Truck Driver | $62,300 | 38.3% |
| Medical Assistant | $47,270 | 50.5% |
| Customer Service Representative | $47,100 | 50.6% |
| Nursing Assistant | $46,940 | 50.8% |
| Warehouse Worker | $40,550 | 58.8% |
| Restaurant Cook | $38,930 | 61.3% |
| Retail Salesperson | $35,820 | 66.6% |
| Cashier | $35,010 | 68.1% |
| Server (Waiter/Waitress) | $31,200 | 76.5% |
Is it cheaper to rent or buy in Elgin?
Buying is cheaper month to month: about $94 a month less than renting.
Owning assumes a typical $273,000 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $27,300 for the down payment.
Frequently asked questions
What is the average rent in Elgin, IL?
Renting in Elgin costs a median of about $1,988 a month in 2026, including utilities. The Illinois median is $1,517.
How much do I need to make to live in Elgin?
To keep rent under 30% of income, you need about $79,520 a year, or $38 an hour at a full-time job.
Is Elgin cheap or expensive?
Elgin is rated OK: rent takes 24.5% of the typical household income of $97,369. It ranks 267th cheapest of 334 Illinois cities we track.
How much are property taxes in Elgin?
The median homeowner in Elgin pays $6,184 a year in property taxes, about 2.27% of the median home value.
Is Elgin more expensive than the national average?
Overall prices in the metro area are 4% above the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Elgin?
The median home value in Elgin is $273,000, about 2.8 times the typical yearly household income.
114,934 people live in Elgin. Numbers are typical (middle) values.