Cost of Living: Madison, WI vs Elgin, IL (2026)

Madison

Wisconsin
103
VS

Elgin

Illinois
90

Madison is 14% more expensive than Elgin.

$1,364/mo ↑ 8%
Median Rent
$1,260/mo ↓ 8%
$76,983/yr ↓ 13%
Median Income
$88,316/yr ↑ 15%
$346,900 ↑ 37%
Home Value
$252,400 ↓ 27%
$1,476/mo ↓ 2%
Owner Costs
$1,502/mo ↑ 2%
275,568
Population
114,106

Tax Comparison

7.65%
Income Tax
4.95%
5.0%
State Sales Tax
6.25%
1.61%
Property Tax
2.07%

Affordability

21.3%
rent-to-income
Affordability
17.1%
rent-to-income

Detailed Comparison

When comparing Madison, WI and Elgin, IL, the overall cost of living indices are 103 and 90 respectively (national median = 100). Rent is $104/month cheaper in Elgin, saving renters about $1,248/year.

Median household income is $11,333/year higher in Elgin. Home values also differ significantly — the median in Madison is $346,900 compared to $252,400 in Elgin.

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

Frequently Asked Questions

Madison vs Elgin — common questions

Is Madison or Elgin cheaper to live in?
Based on our cost index, Elgin is cheaper to live in with an index of 90 compared to 103 (US average = 100).
What is the rent difference between Madison and Elgin?
Median rent in Madison is $1,364/month and in Elgin it's $1,260/month — a difference of $104/month.
Which city has higher income, Madison or Elgin?
Median household income is $76,983 in Madison and $88,316 in Elgin. Median household income is $11,333/year higher in Elgin.
How do taxes compare between Wisconsin and Illinois?
Wisconsin has 7.65% income tax, 5.0% sales tax, and 1.61% property tax. Illinois has 4.95% income tax, 6.25% sales tax, and 2.07% property tax.
Should I move to Madison or Elgin?
It depends on your priorities. Madison has a cost index of 103 with median rent of $1,364/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 Madison details → View Elgin details →

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