Cost of Living in Elgin, IL
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
135.5
100 = national avg
+35.5 vs national average
Living Wage (1 Adult)
$59,608
per year
Living Wage (Family of 4)
$140,892
per year
Cost Index by Category
Housing153.8
Food117.5
Transportation135.0
Healthcare114.0
Utilities121.3
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,581
per month
2 Bedroom
$1,781
per month
The overall cost of living index in Elgin is 135.5, which is 35.5% above the national average. Housing costs are above the national average at an index of 153.8. A single adult needs to earn approximately $59,608 per year to cover basic expenses.