Elgin, TX

Average · 93

Texas · Population 10,996 · Updated March 2026

$1,289
Median Rent / Month
$85,666
Median Income
$267,900
Median Home Value
$1,503
Owner Costs / Month

Affordability

How far your income goes in Elgin

18.1%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Texas

State-level tax rates that affect your costs

0%
Income Tax (Top Rate)
6.25%
Sales Tax
1.6%
Property Tax Rate

Estimated Annual Costs

$15,468
Annual Rent
$0
State Income Tax
$4,286
Property Tax (est.)

Cost of Living Overview

Elgin offers a below-average cost of living, giving residents more purchasing power compared to many US cities. With a cost index of 93 (where 100 equals the national median), Elgin residents can expect to pay median rent of $1,289/month while earning a median household income of $85,666/year.

The median home value in Elgin, TX is $267,900, with typical monthly owner costs around $1,503 including mortgage, insurance, and taxes. The median rent-to-income ratio of 18.1% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Texas has no state income tax, which can represent significant savings compared to high-tax states. Combined with a 6.25% sales tax rate and 1.6% effective property tax rate, the overall tax environment helps keep costs manageable in Elgin.

Frequently Asked Questions

Common questions about living costs in Elgin

What is the cost of living in Elgin, TX?
The cost of living index in Elgin, TX is 93 (US average = 100). Median monthly rent is $1,289, median household income is $85,666/year, and the median home value is $267,900.
Is Elgin, TX affordable?
Yes, Elgin is more affordable than the national average with a cost index of 93. The rent-to-income ratio is 18.1%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Elgin, TX?
The median gross rent in Elgin, TX is $1,289 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $15,468.
What is the median household income in Elgin?
The median household income in Elgin, TX is $85,666 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Texas?
Texas has a top income tax rate of 0%, a sales tax of 6.25%, and an effective property tax rate of 1.6%. Notably, there is no state income tax.