Cost of Living: Laredo, TX vs Elgin, IL (2026)

Laredo

Texas
67
VS

Elgin

Illinois
90

Laredo is 26% cheaper than Elgin.

$1,001/mo ↓ 21%
Median Rent
$1,260/mo ↑ 26%
$63,264/yr ↓ 28%
Median Income
$88,316/yr ↑ 40%
$182,400 ↓ 28%
Home Value
$252,400 ↑ 38%
$1,066/mo ↓ 29%
Owner Costs
$1,502/mo ↑ 41%
255,949
Population
114,106

Tax Comparison

0%
Income Tax
4.95%
6.25%
State Sales Tax
6.25%
1.6%
Property Tax
2.07%

Affordability

19.0%
rent-to-income
Affordability
17.1%
rent-to-income

Detailed Comparison

When comparing Laredo, TX and Elgin, IL, the overall cost of living indices are 67 and 90 respectively (national median = 100). Rent is $259/month cheaper in Laredo, saving renters about $3,108/year.

Median household income is $25,052/year higher in Elgin. Home values also differ significantly — the median in Laredo is $182,400 compared to $252,400 in Elgin.

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

Frequently Asked Questions

Laredo vs Elgin — common questions

Is Laredo or Elgin cheaper to live in?
Based on our cost index, Laredo is cheaper to live in with an index of 67 compared to 90 (US average = 100).
What is the rent difference between Laredo and Elgin?
Median rent in Laredo is $1,001/month and in Elgin it's $1,260/month — a difference of $259/month.
Which city has higher income, Laredo or Elgin?
Median household income is $63,264 in Laredo and $88,316 in Elgin. Median household income is $25,052/year higher in Elgin.
How do taxes compare between Texas and Illinois?
Texas has 0% income tax, 6.25% sales tax, and 1.6% property tax. Illinois has 4.95% income tax, 6.25% sales tax, and 2.07% property tax.
Should I move to Laredo or Elgin?
It depends on your priorities. Laredo has a cost index of 67 with median rent of $1,001/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 Laredo details → View Elgin details →

More Comparisons

Other cost of living comparisons for Laredo and Elgin

Laredo vs. St. Petersburg Laredo vs. Irving Laredo vs. Lubbock Laredo vs. Chesapeake Laredo vs. Fort Wayne Laredo vs. Winston-Salem Elgin vs. Provo Elgin vs. Odessa Elgin vs. Waterbury Elgin vs. Springfield Elgin vs. Carlsbad Elgin vs. Beaumont