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City Report · IL

Elgin

Pop. 114,934·72nd most expensive in Illinois·Elgin rents are up 9.1% over the past year
Median rent (all units)
$1,909/mo
Year-over-Year
+9.1%
Month-over-Month
+2.6%
vs US Median
-$56
Rising (Monthly)
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Most AffordableMost Expensive
Elgin · $1,909
More expensive than 53% of US cities · National median $1,965/mo
Rent Reality Score
41/100
Fairly priced
OverheatedFairGreat value

Rents are 5% above what Elgin's 10-year trend predicts — running hotter than its own history.

Actual rent
$1,909/mo
Expected by trend
$1,824/mo
The Rent Reality Score compares today's median rent to where Elgin's own long-run trajectory projects it should be. See the full rankings →
Medians by bedroom

Rent by unit size

Studio
$1,620
1 BR
$1,730
2 BR
$1,953
3 BR
$2,507
4 BR+
$2,947
Research median
$1,953/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$22,908/yr
At $1,909/mo median
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 9.1% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+9.1% YoY, +2.6% MoM), not inventory.
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Demographics

Who lives here

Elgin, IL is majority owner-occupied, has a large share of families with children, has a median income above the national average, 27% of residents hold a bachelor's degree or higher.

Population
114,934
Median income
$90,282
Median age
36.7
Renters
28.1%
Age distribution
25.3%
22.7%
26.3%
12.2%
13.5%
Under 1825.3%
18–3422.7%
35–5426.3%
55–6412.2%
65+13.5%
Gender
51%
49%
Male51%
Female49%
Race & ethnicity
40.6%
48.7%
White40.6%
Black5.4%
Hispanic48.7%
Asian6.7%
Education (25+)
18.6%
26.4%
28%
27%
No HS diploma18.6%
HS diploma26.4%
Some college28%
Bachelor's+27%
Housing tenure
71.9%
28.1%
Owner71.9%
Renter28.1%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Elgin, IL has changed in 5 years

Rent
$1,324 → $1,909
up 44.2%
Income
$79,757 → $90,282
up 13.2%
Population
114,156 → 114,934
up 0.7%
Renter share
30% → 28.1%
-1.9 pts
Bachelor's+
26% → 27%
+1.0 pts
Median age
35 → 36.7
+1.7 yrs

Compared with 2021, rent in Elgin, IL has increased by $585 per month, settling near $1,909 after starting the period at $1,324. Median household income grew from $79,757 to $90,282 between 2021 and 2024, a 13.2% shift. Rent outpaced income growth by roughly 31.0 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. About 28.1% of households rent today, against 30% in 2021. Taken together, the five-year picture in Elgin, IL reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.

Community

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View Elgin rent history (2015–2026) →
Salary vs rent

Can you afford rent in Elgin on your salary?

At $1,909/mo, how Elgin rent compares to typical pay (30% rule).

By apartment size

Elgin rent by bedroom count

Median rent for each apartment size in Elgin. Click any size for full breakdown.

Local insights

Tips for renters in Elgin

About renting in Elgin, IL

Last updated: July 20, 2026

The median rent in Elgin is $1,909/mo as of July 2026. A studio apartment averages $1,620/mo while a 2-bedroom runs $1,953/mo. One-bedroom apartments average $1,730/mo and 3-bedroom units go for $2,507/mo.

At 25% of local median household income ($90,282/yr), Elgin ranks as affordable compared to the national benchmark of 30%. Rents have increased 9.1% over the past year.

FAQ

Frequently asked questions

Is Elgin an affordable city for renters?

Elgin is considered affordable for renters. At $1,909/mo, rent takes approximately 25% of the local median household income ($90,282/yr). The standard benchmark is 30%. Elgin falls comfortably within that range.

How much income do you need to rent in Elgin?

To keep rent at or below 30% of gross income, you would need to earn at least $76,000/year (~$37/hour full-time) to afford the median rent of $1,909/mo in Elgin. The local median household income is $90,282/yr, meaning the typical Elgin household meets that threshold.

Is rent going up or down in Elgin?

Rent in Elgin has increased 9.1% over the past year as of July 2026, putting upward pressure on renter budgets.

Which Elgin neighborhoods have the lowest rent?

The most affordable ZIP codes in Elgin are 60120 ($1,622/mo), 60123 ($1,715/mo), and 60124 ($2,361/mo). Citywide, the median rent in Elgin is $1,909/mo.

How does Elgin rent compare to other cities in Illinois?

Elgin is middle-of-the-pack for Illinois for rent, ranking #72 out of 142 tracked cities at $1,909/mo.

Which nearby cities are cheaper to rent in than Elgin?

Saint Charles is nearby and more affordable at $1,884/mo, which is $25 less than Elgin.

What percentage of Elgin residents rent vs. own?

According to Census data, approximately 28.1% of Elgin households are renters, while 71.9% are owner-occupied. Elgin leans toward homeownership, which can mean a smaller rental inventory.

How does Elgin rent compare to the national average?

Elgin's median rent of $1,909/mo is $56 (3%) below the US national median of $1,965/mo. Within Illinois, it ranks #72 out of 142 tracked cities.
Income Affordability
25%
AFFORDABLE

At $1,909/mo, rent takes ~25% of Elgin's median household income ($90,282/yr). The standard benchmark is 30%.

Elgin 25%Benchmark 30%
State income tax4.95%
Run the Elgin affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Elgin, IL

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