Cost of Living in Elk Grove Village, IL
Population 31,987 · Census ACS 2020–2024 5-year estimates
The median rent in Elk Grove Village, IL is $1,618/month, 27% higher than the Illinois median and 15% higher than the U.S. median. The median home value is $347,100, 4% higher than the national median. Households earn a median of $94,175 a year, 13% higher than the state median.
Affordability
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Elk Grove Village vs. Illinois vs. U.S.
| Elk Grove Village | Illinois | U.S. | |
|---|---|---|---|
| Median rent | $1,618 | $1,274 | $1,413 |
| Median home value | $347,100 | $263,300 | $332,700 |
| Median household income | $94,175 | $83,390 | $80,734 |
| Homeownership rate | 74.7% | 67.1% | 65.2% |
| Bachelor's degree or higher | 41.2% | 37.8% | 35.7% |
| Poverty rate | 7.9% | 11.8% | 12.5% |
| Unemployment rate | 4.1% | 5.8% | 5.2% |
| Work from home | 16.3% | 15.9% | 15.1% |
| Median age | 44.8 | 39.0 | 38.9 |
FAQ
What is the average rent in Elk Grove Village, IL?
The median gross rent in Elk Grove Village, IL is $1,618 per month (ACS 2020–2024 5-year estimate).
How much do I need to earn to live in Elk Grove Village, IL?
Using the common 30% rule, renting a median-priced home takes about $64,720 a year in gross income.
Is Elk Grove Village, IL expensive to live in?
Rent there is 15% higher than the U.S. median, and the median home costs about 3.7 times the median household income.
Other cities in Illinois
Cities with a similar cost of living
Source: U.S. Census Bureau, American Community Survey 5-year estimates. Estimates have margins of error, especially for smaller places. This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
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