In Elgin, a typical home is worth $273,000 and typical rent is $1,361 a month. Compared with all of Kane County, the typical home value is 17% lower and typical household income is 12% lower.
Typical home value from Zillow, September 2021 to September 2026: from $251,609 to $340,323.
Typical rent
$1,923a month
▲ 3.8% more than 12 months ago
Typical rent from Zillow, September 2021 to September 2026: from $1,389 to $1,923.
From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).
Elgin is in Kane County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Kane County. See the county
What this place has that others do not, from public data, most unusual first.
1
The typical home in Elgin is worth $273,000,17% less than in Kane County as a whole ($327,000).
Sources: U.S. Census Bureau (Average 2020–2024).
The homes here
Housing in Elgin
What homes there are in Elgin, what they cost, how that changed and how people live, from Census figures (2020–2024).
What homes there are
U.S. Census Bureau, ACS 5-year, 2020–2024
Kind of home
Detached houseAttached houseBuilding of 2 to 4Apartments (5 or more)Mobile homeBoat, RV and otherUnreliable estimate
Elgin
Kane County
Illinois
United States
Kind of home: Elgin and its comparisons
Measure
Elgin
Kane County
Illinois
United States
Detached house
62%
69%
58%
61%
Attached house
14%
12%
6%
6%
Building of 2 to 4
9%
7%
12%
8%
Apartments (5 or more)
12%
12%
22%
19%
Mobile home
3%
1%
2%
6%
Boat, RV and other
Unreliable estimate
Unreliable estimate
0%
0%
In Elgin, 6 in 10 homes are single-family detached houses; in Kane County, 7.
Year built
Before 19601960–19791980–19992000–20092010 or later
Elgin
Kane County
Illinois
United States
Year built: Elgin and its comparisons
Measure
Elgin
Kane County
Illinois
United States
Before 1960
30%
24%
38%
26%
1960–1979
25%
21%
26%
24%
1980–1999
24%
25%
20%
25%
2000–2009
14%
21%
11%
14%
2010 or later
7%
8%
6%
11%
The typical home in Elgin was built in 1977, 8 years before the typical one in Kane County.
Homes in Elgin are smaller: 60% have 3 bedrooms or more; in Kane County, 68%.
What it costs here
U.S. Census Bureau, ACS 5-year, 2020–2024
Value of owner-occupied homes
Under the limitOver the limitUnreliable estimate
Under $100K6%
$100K–$200K18%
$200K–$300K36%
$300K–$500K35%
$500K–$750K4%
FHA limit: $541,287
$750K–$1MUnreliable
$1M or moreUnreliable
Value of owner-occupied homes: Elgin and its comparisons
Measure
Elgin
Under $100K
6%
$100K–$200K
18%
$200K–$300K
36%
$300K–$500K
35%
$500K–$750K
4%
$750K–$1M
Unreliable estimate
$1M or more
Unreliable estimate
The FHA loan limit for Kane County is $541,287, and about 95% of owner-occupied homes in Elgin are worth less than that.
Monthly rent with utilities
Under the limitOver the limitUnreliable estimate
Under $5006%
$500–$99916%
$1,000–$1,49938%
$1,500–$1,99929%
$2,000–$2,4998%
HUD fair market rent, 2 bedrooms: $2,011
$2,500–$2,999Unreliable
$3,000 or moreUnreliable
Monthly rent with utilities: Elgin and its comparisons
Measure
Elgin
Under $500
6%
$500–$999
16%
$1,000–$1,499
38%
$1,500–$1,999
29%
$2,000–$2,499
8%
$2,500–$2,999
Unreliable estimate
$3,000 or more
Unreliable estimate
About 88% of rented homes in Elgin cost less than HUD's 2-bedroom fair market rent for Kane County ($2,011).
With a mortgage
$2,016 a month
Kane County: $2,256 a month
Without a mortgage
$862 a month
Kane County: $958 a month
Owners with a mortgage
68%
Kane County: 67%
In Elgin, 68% of owners have a mortgage, and their typical cost is $2,016 a month, against $2,256 in Kane County. Without one it drops to $862.
How it changed
U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024
Change since 2015–2019
Typical home value
Elgin+47%
Kane County+37%
Illinois+35%
United States+53%
Typical rent
Elgin+27%
Kane County+27%
Illinois+26%
United States+33%
Typical household income
Elgin+31%
Kane County+30%
Illinois+27%
United States+29%
Change since 2015–2019: Elgin and its comparisons
Measure
Elgin
Kane County
Illinois
United States
Typical home value
+47%
+37%
+35%
+53%
Typical rent
+27%
+27%
+26%
+33%
Typical household income
+31%
+30%
+27%
+29%
The typical home value in Elgin rose 47% since 2015–2019, more than in Kane County (37%).
Much as in Kane County, the typical rent in Elgin rose 27% since 2015–2019.
To compare: typical income in Elgin rose 31%; the home, +47%; the rent, +27%.
How people live
U.S. Census Bureau, ACS 5-year, 2020–2024
How people live: Elgin and its comparisons
Measure
Elgin
Kane County
Illinois
United States
Rental vacancy
2.9%
3.1%
5.0%
5.5%
Homeowner vacancy
Unreliable estimate
0.7%
1.0%
0.9%
More than one person per room
4.4%
3.0%
2.5%
3.4%
People per household
2.88
2.77
2.46
2.53
Drive alone
72%
71%
66%
69%
Carpool
11%
9%
8%
9%
Public transit
2%
2%
6%
3%
Walk or bike
1%
1%
3%
3%
Work from home
13%
16%
16%
15%
Other means
2%
2%
1%
2%
Typical commute
20 to 29 minutes
20 to 29 minutes
20 to 29 minutes
20 to 29 minutes
Open rentals in Elgin look like those in Kane County: the rental vacancy rate is 2.9%.
More households are short on space in Elgin: 4.4% have more than one person per room; in Kane County, 3.0%.
A household in Elgin has 2.88 people on average, about the same as in Kane County (2.77).
To get to work, 72% of workers in Elgin drive alone; in Kane County, 71%.
Do the math
What would you pay each month for a home in Elgin?
A typical home is tight for the typical income
We start with a typical home in Elgin, worth $273,000, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 34% of the typical household income in Elgin, which is $90,282 a year. For that payment to be 28% of income, a household would need to earn about $110,007 a year.
The calculator's FHA and conventional loan limits are those of all of Kane County.
Change the price, the down payment or the loan: the payment updates right away.
Your numbers
Local data
$
Starts at the typical home value in Elgin. Change it to the price you have in mind.
Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.
Down payment
%
That is $9,555 (3.5% of the price). The usual minimum for this loan is 3.5%.
This week's average ± a quarter or half point.
National average as of November 5, 2026 (Freddie Mac); your rate may be different.
Adjust advanced details⌄
Estimated monthly payment
Local data
$2,567
at 7.18% · 30 years
Loan amount
$268,055
Total interest
$385,669
Paid off in
November 2056
Includes $4,610 FHA upfront mortgage insurance premium.
Does it fit the income?
Comfortable
up to $2,107 a month
Tight
$2,107 to $2,708 a month
Your payment · 34%
Hard
more than $2,708 a month
Compared with the typical household income in Elgin ($90,282 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.
Monthly payment breakdown
Principal & interest
$1,816
Property tax
$516
Home insurance
$114
FHA mortgage insurance (MIP)
$121
You need at least $9,555 for the down payment, plus closing costs.
This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.
Total monthly payment $2,567; principal and interest $1,816.
The city and its county
Elgin and Kane County
Elgin is in Kane County, Illinois. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).
Elgin
Map of Kane County, Illinois, with Elgin marked. Around it, the neighboring counties.
Elgin
Kane County
Other cities with a page
Elgin's own numbers
Typical home value
$273,000
Typical monthly rent
$1,361
Typical yearly household income
$90,282
Households that own their home
72%
Effective property tax rate
2.27%
U.S. Census Bureau, American Community Survey (average 2020–2024).
Numbers for all of Kane County
FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$2,011
Price change over 5 years (FHFA)
+56%
Homes in a high flood-risk zone
1%
HUD, FHFA and FEMA don't publish these numbers by city.
Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Kane County.
A typical home in Elgin is worth $273,000: 17% below the county and 4% above Illinois. With the typical household income in Elgin ($90,282 a year), a typical home costs 3.0 times what the household earns in a year.
Years of income to pay for a typical home
The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.
Elgin3.0 years
Kane3.2 years
Illinois3.2 years
United States4.1 years
Source: U.S. Census Bureau, Average 2020–2024
How prices have changed in Kane County
According to FHFA’s house price index, home prices in Kane County rose 82% in the 10 years through 2025.
FHFA does not publish this index by city: these are the numbers for all of Kane County.
Yearly change in FHFA’s price index in Kane County, 2016 to 2025
2016: +4.1% +4.1% 2016
2017: +4.0% +4.0% 2017
2018: +3.5% +3.5% 2018
2019: +2.9% +2.9% 2019
2020: +1.1% +1.1% 2020
2021: +9.6% +9.6% 2021
2022: +14.7% +14.7% 2022
2023: +9.3% +9.3% 2023
2024: +7.1% +7.1% 2024
2025: +5.8% +5.8% 2025
Change in FHFA’s price index in Kane County, Illinois and the United States
Period
County
Illinois
U.S.
Last year (2025)
+5.8%
+5.7%
+2.9%
5 years (2020–2025)
+56%
+47%
+47%
10 years (2015–2025)
+82%
+65%
+85%
The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data
Elgin next to Kane County, Illinois and the U.S.
Three numbers side by side. “Typical” means the median: half are above it and half below.
Typical home value
Elgin$273,000
Kane$327,000
Illinois$263,300
United States$332,700
Typical monthly rent
Elgin$1,361
Kane$1,453
Illinois$1,274
United States$1,413
Typical yearly household income
Elgin$90,282
Kane$103,163
Illinois$83,390
United States$80,734
See the full table
Elgin next to Kane County and Illinois
Measure
Elgin
Kane County
Illinois
U.S.
Typical home value
$273,000 ▼17% below the county
$327,000
$263,300
$332,700
Typical monthly rent
$1,361 ▼6% below the county
$1,453
$1,274
$1,413
Typical yearly household income
$90,282 ▼12% below the county
$103,163
$83,390
$80,734
Households that own their home
72% ▼4 points below the county
76%
67%
65%
Typical yearly property tax
$6,184 ▼16% below the county
$7,382
$5,298
$3,119
Effective property tax rate
2.27% ▲0.01 points above the county
2.26%
2.01%
0.94%
Renters with high rent for their income
49% ▼1 points below the county
50%
48%
51%
“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Kane County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.
Four ways to pay for a typical home in Elgin
For a typical $273,000 home in Elgin, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Elgin's typical property tax, an example home insurance and mortgage insurance when it applies.
FHA, 3.5% down$2,567a month
Least cash to close
Down payment
$9,555
Cash to close
$17,745
Rate
7.18%
Mortgage insurance
FHA MIP · $121
Conventional, 5% down$2,517a month
Down payment
$13,650
Cash to close
$21,840
Rate
7.18%
Mortgage insurance
PMI · $130
Conventional, 20% down, no PMI$2,110a month
Down payment
$54,600
Cash to close
$62,790
Rate
7.18%
Mortgage insurance
None
ITIN, 15% down (example)$2,362a month
Down payment
$40,950
Cash to close
$49,140
Rate
8.18%
Mortgage insurance
None
Four ways to pay for a typical home in Elgin
Loan
Monthly payment
Down payment
Loan amount
Rate
Mortgage insurance
Cash to close
Minimum score
FHA, 3.5% down Least cash to close
$2,567
$9,555
$268,055
7.18%
FHA MIP · $121
$17,745
580
Conventional, 5% down
$2,517
$13,650
$259,350
7.18%
PMI · $130
$21,840
620*
Conventional, 20% down, no PMI
$2,110
$54,600
$218,400
7.18%
None
$62,790
620*
ITIN, 15% down (example)
$2,362
$40,950
$232,050
8.18%
None
$49,140
Set by the lender
The option that asks for the least cash to close is FHA, 3.5% down.
Cash to close = down payment plus 3% of the price in closing costs (example).
Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.
Typical rent in Elgin is $1,361 a month: 6% below the county. In Elgin, 49% of renter households pay 30% or more of their income in rent.
HUD publishes a fair market rent for all of Kane County, by unit size. To pay the 2-bedroom one ($2,011 a month) without spending more than 30% of your income, you would need to earn $38.67 an hour working full time.
What you need to earn to pay it without spending more than 30% of income, working full time.
HUD fair market rent in Kane County (Fiscal year 2027)
Size
Fair rent a month
Hourly wage
Yearly income
Studio
$1,678
$32.27
$67,120
1 bedroom
$1,780
$34.23
$71,200
2 bedrooms
$2,011
$38.67
$80,440
3 bedrooms
$2,586
$49.73
$103,440
4 bedrooms
$2,954
$56.81
$118,160
Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027
By ZIP code
Fair market rent by ZIP code in Elgin
HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Elgin has 3 ZIP codes with their own.
For 2 bedrooms it runs from $1,790 in 60123 to $2,690 in 60124.
1 of the 3 is above the fair market rent for Kane County ($2,011).
2-bedroom fair market rent in each of the 3 ZIP codes of Elgin, beside the one for Kane County. For 2 bedrooms it runs from $1,790 in 60123 to $2,690 in 60124. 1 of the 3 is above the fair market rent for Kane County ($2,011).
2-bedroom fair market rent in each ZIP code
Each line is one ZIP code: in color, those above the county's fair market rent; in gray, the rest.
County: $2,011
Lowest: $1,790 (60123)Highest: $2,690 (60124)
Fair market rent by ZIP code and size in Elgin, fiscal year 2027.
60120
$1,590
$1,690
$1,910
$2,460
$2,810
60123
$1,490
$1,580
$1,790
$2,300
$2,630
60124
$2,240
$2,380
$2,690
$3,460
$3,950
ZIP code2 bd3 bd
60120 $1,910$2,460
60123 $1,790$2,300
60124 $2,690$3,460
3 of these ZIP codes cross the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Elgin when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD)Fiscal year 2027Small Area Fair Market Rents (HUD) (external site)Source: Census Bureau ZCTA-to-place relationship fileData from 2020 dataCensus Bureau ZCTA-to-place relationship file (external site)
You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.
There are 2 HUD-approved agencies with an office in Kane County; 2 say they serve in Spanish.
No down payment, repair or rent-help program on our list is for Elgin or Kane County. The ones below are statewide in Illinois: they work in Elgin the same as in the rest of the state.
IHDA second loan with no payments until you sell or refinance, for the down payment in Illinois.Offered by Illinois Housing Development Authority (IHDA).
No legal help resource on our list is for Elgin or Kane County in particular.
If you have a problem with your landlord, an eviction notice or a scam, the Legal Services Corporation (LSC) search shows the free legal aid offices that serve your area.
Short answers with the numbers for Elgin and all of Kane County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.
How much does a typical home cost in Elgin?
The typical home value in Elgin is $273,000, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Kane County it is $327,000.
How much does it cost to rent in Elgin?
Typical rent in Elgin is $1,361 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Kane County is $2,011.
What is the FHA loan limit in Elgin?
Elgin uses the FHA limit for all of Kane County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.
How much property tax do owners pay in Elgin?
The typical homeowner in Elgin pays $6,184 a year, according to the U.S. Census Bureau. That is 2.27% of the home’s value; in Kane County, the rate is 2.26%.
Where can I find free help to buy or rent in Elgin?
There are 2 HUD-approved counseling agencies with an office in Kane County. 2 say they serve in Spanish. They can help you get ready to buy, with your credit, or with rent.
