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Affordable
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These days, finding an affordable place to live in the Elgin area can be challenging. Home prices in Elgin are now at a median cost of $317,571, lower than the Texas average of $322,096.
The average cost of rent is $1,448/mo in Elgin, primarily driven by the current value of real estate in the Elgin area. In Elgin, 21.53% of households rent, and 38.68% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Elgin is $7,607 per month. Households that rent pay about 19.03% of their income on rent here. Elgin’s most expensive areas are in the central regions, while the cheapest areas are in the northern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Lund, TX: less expensive homes
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- New Sweden, TX: higher priced homes
- Hornsby Bend, TX: equally priced homes
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Cities with Similar Populations
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- Washougal, WA: higher priced homes
- Westford, MA: higher priced homes
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- Augusta, ME: less expensive homes
- Athens, TN: less expensive homes
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