Cost of Living: Albuquerque, NM vs Elgin, IL (2026)

Albuquerque

New Mexico
80
VS

Elgin

Illinois
90

Albuquerque is 10% cheaper than Elgin.

$1,085/mo ↓ 14%
Median Rent
$1,260/mo ↑ 16%
$65,604/yr ↓ 26%
Median Income
$88,316/yr ↑ 35%
$266,700 ↑ 6%
Home Value
$252,400 ↓ 5%
$1,149/mo ↓ 24%
Owner Costs
$1,502/mo ↑ 31%
562,488
Population
114,106

Tax Comparison

5.9%
Income Tax
4.95%
5.0%
Sales Tax
6.25%
0.67%
Property Tax
2.07%

Affordability

19.8%
rent-to-income
Affordability
17.1%
rent-to-income

Detailed Comparison

When comparing Albuquerque, NM and Elgin, IL, the overall cost of living indices are 80 and 90 respectively (national median = 100). Rent is $175/month cheaper in Albuquerque, saving renters about $2,100/year.

Median household income is $22,712/year higher in Elgin. Home values also differ significantly — the median in Albuquerque is $266,700 compared to $252,400 in Elgin.

Illinois has a lower income tax rate, making Elgin slightly more tax-friendly.

Frequently Asked Questions

Albuquerque vs Elgin — common questions

Is Albuquerque or Elgin cheaper to live in?
Based on our cost index, Albuquerque is cheaper to live in with an index of 80 compared to 90 (US average = 100).
What is the rent difference between Albuquerque and Elgin?
Median rent in Albuquerque is $1,085/month and in Elgin it's $1,260/month — a difference of $175/month.
Which city has higher income, Albuquerque or Elgin?
Median household income is $65,604 in Albuquerque and $88,316 in Elgin. Median household income is $22,712/year higher in Elgin.
How do taxes compare between New Mexico and Illinois?
New Mexico has 5.9% income tax, 5.0% sales tax, and 0.67% property tax. Illinois has 4.95% income tax, 6.25% sales tax, and 2.07% property tax.
Should I move to Albuquerque or Elgin?
It depends on your priorities. Albuquerque has a cost index of 80 with median rent of $1,085/mo, while Elgin has a cost index of 90 with rent of $1,260/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
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