Housing costs in Elgin?
A typical home costs
$409,400, which is 21.1% more expensive than the national average of
$338,100 and 69.4% more expensive than the average Illinois home, at
$241,700. Renting a two-bedroom unit in Elgin costs
$2,160 per month, which is 51.0% more than the national average of
$1,430 and 41.7% more than the state average of
$1,260.
Can I afford Elgin?
To live comfortably in Elgin (zip 60124), Illinois, a minimum annual income of
$78,480 for a family, and
$75,200 for a single person is recommended.
What does A.I. say about Elgin?
The cost of living in 60124 Elgin, IL is quite affordable. According to BestPlaces.net, the cost of living in Elgin is 7% lower than the average in the United States. In particular, housing costs are much lower than the national average, with an average monthly rent of $1,000 compared to a national average of $1,400. Additionally, groceries and healthcare costs are also below the national averages. All these factors combine to make Elgin an incredibly affordable place to live for those looking for a quality hometown experience.