Housing costs in Elgin?
A typical home costs
$132,000, which is 61.0% less expensive than the national average of
$338,100 and 52.4% less expensive than the average Tennessee home, at
$277,400. Renting a two-bedroom unit in Elgin costs
$760 per month, which is 46.9% cheaper than the national average of
$1,430 and 40.8% cheaper than the state average of
$1,070.
Can I afford Elgin?
To live comfortably in Elgin, Tennessee, a minimum annual income of
$25,200 for a family, and
$25,200 for a single person is recommended.
What does A.I. say about Elgin?
Elgin, TN is an affordable place to live. The median home value in the city is $156,000, which is significantly lower than the national average. The overall cost of living in Elgin is 17% less than the US average and 11% less than the state average. Utilities are also quite reasonable; electricity costs are 8% lower than the national average and natural gas prices are 10% below average. Additionally, groceries are about 10% cheaper here than they are on average nationwide. All things considered, living in Elgin can be a very affordable option for many people looking to find a new home.