Elgin, IL Relocation Guide (2026)
Cost of living, housing, and income data for Elgin, sourced from the US Census Bureau.
Salary needed to live in Elgin →
Source: US Census Bureau ACS 5-Year (2022). Last updated July 2026.
Roughly 114,190 people call Elgin, Illinois home. Household income runs $85,998 at the median, above what we see across the broader set of cities (+19%).
Housing costs are a defining factor for anyone relocating to Elgin. The median home value sits at $242,500 (below the multi-city median at -26%), while renters pay a median of $1,190 per month. Buyers should weigh current mortgage rates and local property taxes against these figures before committing.
With home values running about 2.8× median income, Elgin lands on the affordable side of the housing-cost spectrum. Year-over-year, home values around Elgin are up 5.75%, a pace in line with a healthy, unremarkable market. FEMA classifies Elgin's hazard risk as Relatively High. That elevated rating is a major driver of home insurance premiums in the area.
Personal Affordability Check
Renting at $1,190/mo in Elgin would take 16.6% of your income.
$960/mo under the 30% guideline.
Buying the median home ($242,500) would take 18.1% of your income toward principal & interest.
$712/mo under the 28% guideline.
Cost of housing in Elgin
Median home value is $242,500 and median gross rent is $1,190/month. For buyers, monthly costs depend heavily on current mortgage rates — worth checking before you commit.
FHFA's county-level home price index for Kane rose 5.75% over the past year (as of 2025).
HUD's FY 2026 Fair Market Rent for a 2-bedroom unit in the surrounding county is $1,781/month.
Climate & home insurance
FEMA rates Elgin's overall natural-hazard risk as Relatively High. Risk level is a major driver of home insurance premiums.
Safety
Elgin reported a violent crime rate of 217.9 per 100,000 residents in 2025, per FBI data.
Moving to Elgin
Planning a move to Elgin? Compare licensed movers and get quotes based on your origin and move date.
Frequently asked questions
- What is the cost of living in Elgin, IL?
- In Elgin, the median home value is $242,500 and median rent is $1,190 per month, against a median household income of $85,998. These figures come from the US Census Bureau ACS 5-Year (2022).
- How much do you need to earn to live comfortably in Elgin?
- Using the standard 30%-of-income rule of thumb, affording Elgin's median rent of $1,190/month takes an income of roughly $47,600 a year. See the full salary breakdown (renting and buying) for Elgin.
- Is it better to rent or buy in Elgin?
- Elgin's median rent of $1,190/month translates to about $47,600 a year needed to rent comfortably, versus roughly $55,483 a year for principal and interest on the $242,500 median home (20% down, 30-year fixed, today's rates). How long you'll stay is usually the deciding factor.
- Is Elgin safe?
- In 2025, Elgin reported 217.9 violent crimes per 100,000 residents, according to FBI data.
See the full salary breakdown for Elgin →
Cities with a similar cost of living
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