Cost of Living: Waterbury, CT vs Elgin, IL (2026)

Waterbury

Connecticut
76
VS

Elgin

Illinois
90

Waterbury is 14% cheaper than Elgin.

$1,180/mo ↓ 6%
Median Rent
$1,260/mo ↑ 7%
$51,642/yr ↓ 42%
Median Income
$88,316/yr ↑ 71%
$185,400 ↓ 27%
Home Value
$252,400 ↑ 36%
$1,273/mo ↓ 15%
Owner Costs
$1,502/mo ↑ 18%
114,356
Population
114,106

Tax Comparison

6.99%
Income Tax
4.95%
6.35%
Sales Tax
6.25%
2.15%
Property Tax
2.07%

Affordability

27.4%
rent-to-income
Affordability
17.1%
rent-to-income

Detailed Comparison

When comparing Waterbury, CT and Elgin, IL, the overall cost of living indices are 76 and 90 respectively (national median = 100). Rent is $80/month cheaper in Waterbury, saving renters about $960/year.

Median household income is $36,674/year higher in Elgin. Home values also differ significantly — the median in Waterbury is $185,400 compared to $252,400 in Elgin.

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

Frequently Asked Questions

Waterbury vs Elgin — common questions

Is Waterbury or Elgin cheaper to live in?
Based on our cost index, Waterbury is cheaper to live in with an index of 76 compared to 90 (US average = 100).
What is the rent difference between Waterbury and Elgin?
Median rent in Waterbury is $1,180/month and in Elgin it's $1,260/month — a difference of $80/month.
Which city has higher income, Waterbury or Elgin?
Median household income is $51,642 in Waterbury and $88,316 in Elgin. Median household income is $36,674/year higher in Elgin.
How do taxes compare between Connecticut and Illinois?
Connecticut has 6.99% income tax, 6.35% sales tax, and 2.15% property tax. Illinois has 4.95% income tax, 6.25% sales tax, and 2.07% property tax.
Should I move to Waterbury or Elgin?
It depends on your priorities. Waterbury has a cost index of 76 with median rent of $1,180/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 Waterbury details → View Elgin details →