Housing costs in Elk Grove Village?
A typical home costs
$304,500, which is 9.9% less expensive than the national average of
$338,100 and 26.0% more expensive than the average Illinois home, at
$241,700. Renting a two-bedroom unit in Elk Grove Village costs
$1,530 per month, which is 7.0% more than the national average of
$1,430 and 17.6% more than the state average of
$1,260.
Can I afford Elk Grove Village?
To live comfortably in Elk Grove Village, Illinois, a minimum annual income of
$58,320 for a family, and
$53,200 for a single person is recommended.
What does A.I. say about Elk Grove Village?
Elk Grove Village, IL is an affordable place to live. The median household income in the village is $77,062 and the median home value is around $214,000. Rent costs are also quite reasonable compared to other parts of the country with an average rental rate of around $1,400 per month for a one-bedroom apartment. Additionally, groceries, fuel, and other basic necessities cost less than in other areas of Illinois. Overall, Elk Grove Village provides a range of housing options at reasonable prices combined with lower overall living costs that make it an attractive destination for those seeking affordable housing in a suburban setting.