Elgin, IA is a small town located in the Midwestern states of America. It has a population of around 2,000 people and is an ideal place for those looking for a quiet life away from the bustle of big cities. The cost of living in Elgin is much lower than the US average, with two bedroom rent being $810, compared to a national average of $1,430. Furthermore, the Grocery Cost Index in Elgin stands at 93/100 compared to the US average. There are several local businesses in Elgin, including family-owned restaurants and stores that offer goods and services at competitive prices. In addition to these local companies, there are also larger corporations such as Walmart and Target that bring jobs to the area. Overall, Elgin provides its residents with a low cost of living while providing them access to all the amenities they need.
Elgin has an unemployment rate of 5.1%. The US average is 6.0%.
Elgin has seen the job market decrease by -0.7% over the last year. Future job growth over the next ten years is predicted to be 18.4%, which is lower than the US average of 33.5%.
Tax Rates for Elgin
- The Sales Tax Rate for Elgin is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Elgin is 9.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Elgin
- The average income of a Elgin resident is $22,631 a year. The US average is $28,555 a year.
- The Median household income of a Elgin resident is $55,481 a year. The US average is $69,021 a year.