Cost of Living in Elgin, IA
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
82.6
100 = national avg
-17.4 vs national average
Living Wage (1 Adult)
$36,363
per year
Living Wage (Family of 4)
$85,948
per year
Cost Index by Category
Housing62.8
Food95.9
Transportation91.9
Healthcare96.8
Utilities90.1
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$723
per month
2 Bedroom
$919
per month
The overall cost of living index in Elgin is 82.6, which is 17.4% below the national average. Housing costs are below the national average at an index of 62.8. A single adult needs to earn approximately $36,363 per year to cover basic expenses.