The median home in Elgin, Illinois is valued at $320,290, up 3.0% year over year. Typical monthly rent is $1,720, producing a price-to-rent ratio of 15.5x — near the national average of 18x. Elgin is part of the Chicago-Naperville-Elgin, IL-IN-WI metropolitan area, which CrashWatch tracks daily with real-time stress scores and crash risk analysis.

See the full metro analysis: Chicago-Naperville-Elgin, IL-IN-WI stress score, crash risk, and 12-month forecast →

Home Value$320,290

+3.0%

Rent$1,720/mo

AFFORDABILITY

Enter your income for Elgin.

Income (annual)

Down Payment

$64,058 on $320,290

Out of reach — 37.8% of income

Need $101,357/yr to afford.

PITI$2,365

P/I37.8%

Afford$237K

Gap-$83K

P&I $1,620Tax $595Ins $150

Renting $645/mo cheaper ($1,720 rent)6.50% 30yr, 20% down, county tax + IL ins. 28% per HUD.

Home Buying Kit For Dummies (2025)Financing, negotiation, closing

Other cities in Illinois

Compare Elgin with other housing markets across Illinois.

Kenilworth$1927K Winnetka$1731K Glencoe$1507K Bannockburn$1222K Golf$1186K Hinsdale$1182K Lake Forest$1136K South Barrington$1077K

Full Chicago-Naperville-Elgin, IL-IN-WI analysis

Stress scores, crash risk, early warning signals, and 12-month price forecasts for the Chicago-Naperville-Elgin, IL-IN-WI metro.

View Chicago-Naperville-Elgin, IL-IN-WI metro →

ELGIN, IL