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Affordable
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These days, finding an affordable place to live in the Elk Grove Village area can be challenging. Home prices in Elk Grove Village are now at a median cost of $340,975, higher than the Illinois average of $300,242.
The average cost of rent is $1,781/mo in Elk Grove Village, primarily driven by the current value of real estate in the Elk Grove Village area. In Elk Grove Village, 29.91% of households rent, and 43.25% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Elk Grove Village is $8,046 per month. Households that rent pay about 22.13% of their income on rent here. Elk Grove Village’s most expensive areas are in the western regions, while the cheapest areas are in the northwestern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Itasca, IL: higher priced homes
- Medinah, IL: higher priced homes
- Wood Dale, IL: equally priced homes
- Roselle, IL: equally priced homes
- Schaumburg, IL: equally priced homes
- Rolling Meadows, IL: equally priced homes
- Addison, IL: equally priced homes
- Bensenville, IL: less expensive homes
- Mount Prospect, IL: equally priced homes
- Bloomingdale, IL: higher priced homes
Cities with Similar Populations
- Mcminnville, OR: higher priced homes
- Norwich, CT: less expensive homes
- North Bay Village, FL: higher priced homes
- Newburgh, IN: less expensive homes
- New Lenox, IL: higher priced homes
- Mount Airy, NC: less expensive homes
- Montgomery Village, MD: higher priced homes
- Mission Bend, TX: less expensive homes
- Miamisburg, OH: less expensive homes
- Oak Creek, WI: equally priced homes
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