Cost of Living in Elgin, MN
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
113.5
100 = national avg
+13.5 vs national average
Living Wage (1 Adult)
$49,928
per year
Living Wage (Family of 4)
$118,012
per year
Cost Index by Category
Housing96.7
Food116.5
Transportation133.0
Healthcare113.2
Utilities109.2
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$913
per month
2 Bedroom
$1,001
per month
The overall cost of living index in Elgin is 113.5, which is 13.5% above the national average. Housing costs are below the national average at an index of 96.7. A single adult needs to earn approximately $49,928 per year to cover basic expenses.