Cost of Living: Newark, NJ vs Elgin, IL (2026)

Newark

New Jersey
100
VS

Elgin

Illinois
90

Newark is 11% more expensive than Elgin.

$1,330/mo ↑ 6%
Median Rent
$1,260/mo ↓ 5%
$48,416/yr ↓ 45%
Median Income
$88,316/yr ↑ 82%
$337,800 ↑ 34%
Home Value
$252,400 ↓ 25%
$1,419/mo ↓ 6%
Owner Costs
$1,502/mo ↑ 6%
307,188
Population
114,106

Tax Comparison

10.75%
Income Tax
4.95%
6.625%
State Sales Tax
6.25%
2.23%
Property Tax
2.07%

Affordability

33.0%
rent-to-income
Affordability
17.1%
rent-to-income

Detailed Comparison

When comparing Newark, NJ and Elgin, IL, the overall cost of living indices are 100 and 90 respectively (national median = 100). Rent is $70/month cheaper in Elgin, saving renters about $840/year.

Median household income is $39,900/year higher in Elgin. Home values also differ significantly — the median in Newark is $337,800 compared to $252,400 in Elgin.

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

Frequently Asked Questions

Newark vs Elgin — common questions

Is Newark or Elgin cheaper to live in?
Based on our cost index, Elgin is cheaper to live in with an index of 90 compared to 100 (US average = 100).
What is the rent difference between Newark and Elgin?
Median rent in Newark is $1,330/month and in Elgin it's $1,260/month — a difference of $70/month.
Which city has higher income, Newark or Elgin?
Median household income is $48,416 in Newark and $88,316 in Elgin. Median household income is $39,900/year higher in Elgin.
How do taxes compare between New Jersey and Illinois?
New Jersey has 10.75% income tax, 6.625% sales tax, and 2.23% property tax. Illinois has 4.95% income tax, 6.25% sales tax, and 2.07% property tax.
Should I move to Newark or Elgin?
It depends on your priorities. Newark has a cost index of 100 with median rent of $1,330/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 Newark details → View Elgin details →

More Comparisons

Other cost of living comparisons for Newark and Elgin

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