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

McKinney

Texas
138
VS

Elgin

Illinois
90

McKinney is 53% more expensive than Elgin.

$1,841/mo ↑ 46%
Median Rent
$1,260/mo ↓ 32%
$120,273/yr ↑ 36%
Median Income
$88,316/yr ↓ 27%
$439,500 ↑ 74%
Home Value
$252,400 ↓ 43%
$2,101/mo ↑ 40%
Owner Costs
$1,502/mo ↓ 29%
202,314
Population
114,106

Tax Comparison

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

Affordability

18.4%
rent-to-income
Affordability
17.1%
rent-to-income

Detailed Comparison

When comparing McKinney, TX and Elgin, IL, the overall cost of living indices are 138 and 90 respectively (national median = 100). Rent is $581/month cheaper in Elgin, saving renters about $6,972/year.

Median household income is $31,957/year higher in McKinney. Home values also differ significantly — the median in McKinney is $439,500 compared to $252,400 in Elgin.

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

Frequently Asked Questions

McKinney vs Elgin — common questions

Is McKinney or Elgin cheaper to live in?
Based on our cost index, Elgin is cheaper to live in with an index of 90 compared to 138 (US average = 100).
What is the rent difference between McKinney and Elgin?
Median rent in McKinney is $1,841/month and in Elgin it's $1,260/month — a difference of $581/month.
Which city has higher income, McKinney or Elgin?
Median household income is $120,273 in McKinney and $88,316 in Elgin. Median household income is $31,957/year higher in McKinney.
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 McKinney or Elgin?
It depends on your priorities. McKinney has a cost index of 138 with median rent of $1,841/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 McKinney details → View Elgin details →

More Comparisons

Other cost of living comparisons for McKinney and Elgin

McKinney vs. Little Rock McKinney vs. Augusta McKinney vs. Salt Lake City McKinney vs. Oxnard McKinney vs. Columbus McKinney vs. Amarillo Elgin vs. Provo Elgin vs. Odessa Elgin vs. Waterbury Elgin vs. Springfield Elgin vs. Carlsbad Elgin vs. Beaumont