States › Illinois › Elk Grove Village

Is Elk Grove Village, IL expensive to live in?

OKRent takes 22 cents of every $1 people earn here.
🏠 Rent per month (2026)$1,8757% higher than U.S. average
💵 Families earn per year (2026)$101,568about $8,464/month · 17% higher than U.S. average
🔑 House price$347,1004% higher than U.S. average

Rent is higher than in 62% of U.S. cities. A typical house costs about 3.4 years of household income.

How much money do I need?

To rent here comfortably, you should earn about $75,000 a year. That is $36 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 245 of 334 cities from cheapest to most expensive.

Elk Grove Village
$1,875
Mundelein
$1,842
Pekin
$982
O'Fallon
$1,565
Glendale Heights
$1,882
St. Charles
$2,588
North Chicago
$1,712

How much do households earn in Elk Grove Village?

Under $25k
10.1%
$25k–50k
16.4%
$50k–100k
34.0%
$100k–150k
21.5%
$150k+
13.7%

Share of households by yearly income. 35.1% of households earn $100,000 or more.

Rent by apartment size in Elk Grove Village

SizeElk Grove VillageU.S. average
Studio$1,386$1,338
1 bedroom$1,500$1,324
2 bedrooms$1,918$1,509
3 bedrooms$2,378$1,698
4 bedrooms$2,963$2,098

Median monthly rent plus utilities for all renters, by number of bedrooms.

How expensive is Elk Grove Village overall?

Everyday prices in Illinois overall are same as the U.S. average (index 100.0, U.S. = 100).

Housing
94
Goods (food, clothes…)
104
Utilities
85
Other services
100
U.S. average
100

Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Elk Grove Village, so the Illinois figure is shown.

Taxes and bills in Elk Grove Village

🏛️ Property tax$6,728a year · 1.94% of home value · U.S. $3,119
⚡ Electric bill$95a month (typical) · U.S. $156

Life in Elk Grove Village

Commute to work25.5 minU.S.: 26.4 min
College degree41.2%U.S.: 35.7%
Own their home74.7%U.S.: 65.2%
Below poverty line7.9%U.S.: 12.5%
Unemployment4.1%U.S.: 5.2%

Is it cheaper to rent or buy in Elk Grove Village?

Renting is cheaper right now: about $533 a month less.

Renting
$1,875
Owning
$2,408

Owning assumes a typical $347,100 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $34,710 for the down payment.

Frequently asked questions

What is the average rent in Elk Grove Village, IL?

Renting in Elk Grove Village costs a median of about $1,875 a month in 2026, including utilities. The Illinois median is $1,517.

How much do I need to make to live in Elk Grove Village?

To keep rent under 30% of income, you need about $75,000 a year, or $36 an hour at a full-time job.

Is Elk Grove Village cheap or expensive?

Elk Grove Village is rated OK: rent takes 22.2% of the typical household income of $101,568. It ranks 245th cheapest of 334 Illinois cities we track.

How much are property taxes in Elk Grove Village?

The median homeowner in Elk Grove Village pays $6,728 a year in property taxes, about 1.94% of the median home value.

Is Elk Grove Village more expensive than the national average?

Overall prices in Illinois are same as the U.S. average, according to the U.S. Bureau of Economic Analysis.

How much does a house cost in Elk Grove Village?

The median home value in Elk Grove Village is $347,100, about 3.4 times the typical yearly household income.

31,987 people live in Elk Grove Village. Numbers are typical (middle) values.