Cost of Living: Anchorage, AK vs Elgin, IL (2026)

Anchorage

Alaska
113
VS

Elgin

Illinois
90

Anchorage is 26% more expensive than Elgin.

$1,453/mo ↑ 15%
Median Rent
$1,260/mo ↓ 13%
$98,152/yr ↑ 11%
Median Income
$88,316/yr ↓ 10%
$375,900 ↑ 49%
Home Value
$252,400 ↓ 33%
$1,698/mo ↑ 13%
Owner Costs
$1,502/mo ↓ 12%
289,069
Population
114,106

Tax Comparison

0%
Income Tax
4.95%
0%
State Sales Tax
6.25%
1.04%
Property Tax
2.07%

Affordability

17.8%
rent-to-income
Affordability
17.1%
rent-to-income

Detailed Comparison

When comparing Anchorage, AK and Elgin, IL, the overall cost of living indices are 113 and 90 respectively (national median = 100). Rent is $193/month cheaper in Elgin, saving renters about $2,316/year.

Median household income is $9,836/year higher in Anchorage. Home values also differ significantly — the median in Anchorage is $375,900 compared to $252,400 in Elgin.

Alaska has no state income tax, giving Anchorage residents a significant tax advantage over Illinois's 4.95% rate.

Frequently Asked Questions

Anchorage vs Elgin — common questions

Is Anchorage or Elgin cheaper to live in?
Based on our cost index, Elgin is cheaper to live in with an index of 90 compared to 113 (US average = 100).
What is the rent difference between Anchorage and Elgin?
Median rent in Anchorage is $1,453/month and in Elgin it's $1,260/month — a difference of $193/month.
Which city has higher income, Anchorage or Elgin?
Median household income is $98,152 in Anchorage and $88,316 in Elgin. Median household income is $9,836/year higher in Anchorage.
How do taxes compare between Alaska and Illinois?
Alaska has 0% income tax, 0% sales tax, and 1.04% property tax. Illinois has 4.95% income tax, 6.25% sales tax, and 2.07% property tax.
Should I move to Anchorage or Elgin?
It depends on your priorities. Anchorage has a cost index of 113 with median rent of $1,453/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.
View Anchorage details → View Elgin details →

More Comparisons

Other cost of living comparisons for Anchorage and Elgin

Anchorage vs. Jersey City Anchorage vs. Durham Anchorage vs. Lincoln Anchorage vs. Plano Anchorage vs. St. Louis Anchorage vs. Chandler Elgin vs. Provo Elgin vs. Odessa Elgin vs. Waterbury Elgin vs. Springfield Elgin vs. Carlsbad Elgin vs. Beaumont