salaryRent is higher than in 51% of U.S. cities. Household incomes are higher than in 86% of U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards. Most homes (79.1%) are owned, so rentals can be hard to find.
How much money do I need?
To rent here comfortably, you should earn about $66,560 a year. That is $32 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 203 of 334 cities from cheapest to most expensive.
How much do households earn in South Elgin?
Share of households by yearly income. 50.8% of households earn $100,000 or more.
Rent by apartment size in South Elgin
| Size | South Elgin | U.S. average |
|---|---|---|
| Studio | $1,344 | $1,338 |
| 1 bedroom | $1,758 | $1,324 |
| 2 bedrooms | $1,884 | $1,509 |
| 3 bedrooms | $1,693 | $1,698 |
| 4 bedrooms | $2,488 | $2,098 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is South Elgin overall?
Everyday prices in Illinois overall are same as the U.S. average (index 100.0, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for South Elgin, so the Illinois figure is shown.
Taxes and bills in South Elgin
Life in South Elgin
Is it cheaper to rent or buy in South Elgin?
Renting is cheaper right now: about $689 a month less.
Owning assumes a typical $339,100 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $33,910 for the down payment.
Frequently asked questions
What is the average rent in South Elgin, IL?
Renting in South Elgin costs a median of about $1,664 a month in 2026, including utilities. The Illinois median is $1,517.
How much do I need to make to live in South Elgin?
To keep rent under 30% of income, you need about $66,560 a year, or $32 an hour at a full-time job.
Is South Elgin cheap or expensive?
South Elgin is rated Cheap: rent takes 14.6% of the typical household income of $137,188. It ranks 203rd cheapest of 334 Illinois cities we track.
How much are property taxes in South Elgin?
The median homeowner in South Elgin pays $7,922 a year in property taxes, about 2.34% of the median home value.
Is South Elgin 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 South Elgin?
The median home value in South Elgin is $339,100, about 2.5 times the typical yearly household income.
24,217 people live in South Elgin. Numbers are typical (middle) values.