Calculate using real Elgin data. Median home price: $265,000. Property tax rate: 1.95%.
Elgin, IL has a cost of living index of 92, where 100 represents the national average. This means living in Elgin is 8% less expensive the national average.
The median household income in Elgin, IL is $72,830. Combined with a cost of living index of 92, this provides a picture of purchasing power in the area.
The median home price in Elgin, IL is $265,000 with a property tax rate of 1.95%. Monthly housing costs (mortgage + taxes + insurance) on a median-priced home would be approximately $1,921.