Elgin, IA
Population 848 · Iowa
About Elgin, IA
Elgin is a small community located in Iowa with a population of 848 residents according to the latest US Census Bureau American Community Survey data. The median household income is $60,114 per year, which is 20% below the national median of $75,149. The median age of 44.1 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Elgin features a median home value of $87,300, which is 64% below the national median of $244,900. This makes Elgin one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $634, 45% below the national average of $1,163/month. Of the 395 total housing units, 83% are owner-occupied (291 units) and 17% are renter-occupied (60 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Elgin shows an unemployment rate of 3.2%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 4.2%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Elgin have an average one-way commute time of 22.5 minutes.
Education & Demographics
16.4% of Elgin residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 0.2% White, 0.4% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 0.0% of the population being foreign-born.
Cost of Living in Elgin, IA
Compared to national averages, Elgin has a median household income of $60,114 (20% below the national median of $75,149). Home values average $87,300, which is 64% below the national median. Monthly rent at $634 is 45% below the US average of $1,163. Within Iowa, Elgin's income is 12% below the state average of $67,947, and home values are 34% below the state median of $132,237.
Why Live in Elgin, IA?
Elgin offers affordable housing with a median home value of $87,300, below the US average of $244,900, and rent that’s lower than the national average at $634/month, and a strong job market with an unemployment rate of just 3.2%. Additionally, the city features a low poverty rate of 4.2%, better than the national average, and short commute times averaging just 22.5 minutes.
Potential considerations include median household income ($60,114) that falls below the national average. However, Elgin’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Elgin has a population of 848 with a median age of 44.1 years. Compare Elgin with other cities to see how it stacks up, or explore all cities in Iowa.
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Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Elgin
What is the population of Elgin, IA?
The population of Elgin, IA is 848 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Iowa.
What is the median household income in Elgin?
The median household income in Elgin, IA is $60,114 per year, which is 20% below the national median of $75,149.
What is the median home value in Elgin?
The median home value in Elgin, IA is $87,300, which is 64% below 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, IA is $634, which is 45% below the national average of $1,163/month.
What is the unemployment rate in Elgin?
The unemployment rate in Elgin, IA is 3.2%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Elgin, IA a good place to live?
Elgin offers a moderate cost of living, affordable housing, and a strong job market. With a population of 848 and a median age of 44.1, the city appeals to a broad range of residents.
How educated is Elgin, IA?
16.4% 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, IA: median home value is $87,300 (64% below national), median rent is $634/month, and median household income is $60,114. The home-value-to-income ratio is 1.5x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Elgin?
The poverty rate in Elgin, IA is 4.2%, 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, IA?
Elgin's population is 0.2% White, 0.4% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.7% two or more races. 0.0% of residents are foreign-born.