Elgin, IL
Population 114,106 · Illinois
About Elgin, IL
Elgin is a major city located in Illinois with a population of 114,106 residents according to the latest US Census Bureau American Community Survey data. The median household income is $88,316 per year, which is 18% above the national median of $75,149. The median age of 36.3 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Elgin features a median home value of $252,400, which is 3% above the national median of $244,900. This positions Elgin in a moderately priced market relative to the rest of the country. Median monthly rent is $1,260, 8% above the national average of $1,163/month. Of the 40,111 total housing units, 71% are owner-occupied (27,755 units) and 29% are renter-occupied (11,091 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Elgin shows an unemployment rate of 6.3%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 10.4%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Elgin have an average one-way commute time of 27.8 minutes.
Education & Demographics
26.0% of Elgin residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 40.0% White, 3.6% Hispanic or Latino, 3.1% Black or African American, and 5.2% Asian residents, with 26.5% of the population being foreign-born.
How Elgin Ranks in Illinois
Cost of Living in Elgin, IL
Compared to national averages, Elgin has a median household income of $88,316 (18% above the national median of $75,149). Home values average $252,400, which is 3% above the national median. Monthly rent at $1,260 is 8% above the US average of $1,163. Within Illinois, Elgin's income is 18% above the state average of $75,072, and home values are 52% above the state median of $165,779.
Why Live in Elgin, IL?
Elgin offers a strong local economy with a median household income of $88,316, well above the national average, and a low poverty rate of 10.4%, better than the national average.
Elgin has a population of 114,106 with a median age of 36.3 years. Compare Elgin with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Elgin
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Springfield | 113,714 | $65,537 | $155,200 | Compare |
| Peoria | 112,126 | $58,716 | $149,500 | Compare |
| Waukegan | 88,919 | $70,578 | $177,600 | Compare |
| Champaign | 88,822 | $57,544 | $199,700 | Compare |
| Cicero | 83,223 | $68,548 | $236,000 | Compare |
| Rockford | 147,649 | $53,328 | $120,900 | Compare |
| Naperville | 149,424 | $150,937 | $509,900 | Compare |
| Bloomington | 78,703 | $75,449 | $198,800 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Illinois
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Elgin With Other Cities
Frequently Asked Questions about Elgin
What is the population of Elgin, IL?
The population of Elgin, IL is 114,106 according to the latest US Census Bureau American Community Survey estimates. This makes it a major city in Illinois.
What is the median household income in Elgin?
The median household income in Elgin, IL is $88,316 per year, which is 18% above the national median of $75,149.
What is the median home value in Elgin?
The median home value in Elgin, IL is $252,400, which is 3% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Elgin?
The median monthly rent in Elgin, IL is $1,260, which is 8% above the national average of $1,163/month.
What is the unemployment rate in Elgin?
The unemployment rate in Elgin, IL is 6.3%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Elgin, IL a good place to live?
Elgin offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 114,106 and a median age of 36.3, the city appeals to a broad range of residents.
How educated is Elgin, IL?
26.0% of residents in Elgin aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Elgin?
Key cost-of-living indicators for Elgin, IL: median home value is $252,400 (3% above national), median rent is $1,260/month, and median household income is $88,316. The home-value-to-income ratio is 2.9x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Elgin?
The poverty rate in Elgin, IL is 10.4%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Elgin, IL?
Elgin's population is 40.0% White, 3.6% Hispanic or Latino, 3.1% Black or African American, 5.2% Asian, and 4.9% two or more races. 26.5% of residents are foreign-born.