Elgin vs Madison
Cost of Living Comparison · 2026
Elgin
Madison
The Verdict
Elgin is 10.4% less expensive than Madison overall. A household earning $75,000 in Elgin would need approximately $83,684 in Madison to maintain the same standard of living.
Category-by-Category Breakdown
Index values · National average = 100 · Lower is more affordable
Salary Equivalence
A $75,000 salary in Elgin has the same purchasing power as $83,684 in Madison.
Conversely, $75,000 in Madison equals $67,217 in Elgin.
Living in Elgin vs Madison
Housing Costs
Elgin's housing index of 89 is lower Madison's 115, translating to median home prices of $279,000 vs $340,000. The $61,000 difference in home prices means roughly $3,960 per year in additional mortgage costs at current rates. Renters face a similar gap: $1,375/mo in Elgin compared to $1,400/mo in Madison, a monthly difference of $25.
Grocery & Food Costs
Grocery expenses index at 104 in Elgin and 101 in Madison. A household spending the national average of $475/month on groceries would pay approximately $494/month in Elgin vs $480/month in Madison. The difference in grocery costs between these cities is relatively minor and unlikely to be a deciding factor in relocation.
Utility Expenses
Utility costs — electricity, gas, water, internet — index at 89 in Elgin and 97 in Madison. Monthly utility bills average approximately $356 in Elgin vs $388 in Madison. Utility costs are relatively comparable between these two cities.
Healthcare
Healthcare costs index at 105 in Elgin and 105 in Madison. This encompasses insurance premiums, doctor visit copays, dental care, and prescription costs. Healthcare costs are relatively similar between these two cities, though individual plan costs can still vary.
Income & Purchasing Power
Median household income is $90,300 in Elgin and $67,565 in Madison. After adjusting for local costs, purchasing-power-equivalent incomes are approximately $95,053 and $63,741 respectively. Elgin residents enjoy stronger real purchasing power despite higher nominal wages.
Relocation Considerations
Under the standard 28% rule, a median-income household can allocate $2,107/month to housing in Elgin vs $1,577/month in Madison. In Elgin, median rent of $1,375/mo fits within this budget. In Madison, median rent of $1,400/mo remains manageable. The biggest category-level difference between these two cities is Housing, where the gap is 26 index points — focus your budget analysis there.
Frequently Asked Questions
Moving & Relocation Resources
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