Cost of living in Elgin, TX
Elgin is a bit more expensive than most of Texas. Median rent is $1,440 a month, about the same as the Texas median of $1,403, and the median home is worth $326,400, 15% higher than the Texas median of $283,800.
Cost of living70 of 100. Higher means more affordable.
Overall grade for Elgin: C+
- Median rent
- $1,440Texas $1,403
- 2-bedroom fair rent
- $1,817HUD FY2027
- Median home value
- $326,400Texas $283,800
- Monthly cost to buy
- $2,320Loan and property tax
- Property tax
- $6,400Median per year
- Income to rent
- $58,000At 30% of pay
Is Elgin expensive?
Prices only tell half the story. The typical household here earns $91,114, so the median home costs 3.6 times a year of income, against 3.6 times across Texas and 4.1 times across the US. That is close to the Texas norm.
Our cost of living grade for Elgin is B (70 of 100), comparing it with US cities of 10,000 to 50,000 people. A higher grade means more affordable.
| Measure | Here | Texas | US |
|---|---|---|---|
| Median rentAbout the same as Texas | $1,440 | $1,403 | $1,413 |
| Median home value15% higher than Texas | $326,400 | $283,800 | $332,700 |
| Home value to incomeAbout the same as Texas | 3.6x | 3.6x | 4.1x |
| Median household income16% higher than Texas | $91,114 | $78,476 | $80,734 |
| Renters paying 30%+ of income on rent13 points lower than Texas | 39% | 52% | 51% |
| Median property tax per year51% higher than Texas | $6,400 | $4,232 | $3,119 |
Rent in Elgin
HUD's fair market rents for Austin-Round Rock-San Marcos, TX MSA run from $1,447 for a studio to $2,689 for 4 bedrooms. A two-bedroom is $1,817 a month, which takes an income of about $73,000 a year to stay at 30% of pay. HUD figures include utilities and describe a typical, modest unit.
39% of renters in Elgin already spend 30% or more of their income on rent, against 52% across Texas.
Income you need to rent
| Unit | Rent | Yearly income at 30% |
|---|---|---|
| Studio | $1,447 | $58,000 |
| 1 bedroom | $1,530 | $61,000 |
| 2 bedrooms | $1,817 | $73,000 |
| 3 bedrooms | $2,292 | $92,000 |
| 4 bedrooms | $2,689 | $108,000 |
Buying a home in Elgin
Buying the median $326,400 home with 20% down ($65,280) and a 30-year loan at 7.28% costs about $1,787 a month for the loan plus $533 a month in property tax, $2,320 in all. Homeowners insurance, HOA dues and upkeep come on top.
That is $880 a month more than the median rent, so renting is cheaper month to month. Buying pays off mainly if you stay long enough for the home to build equity.
Taxes
Texas has no state income tax, which helps take-home pay. The trade-off is high property tax, set by the county, city, school district and other local bodies.
The median homeowner in Elgin pays $6,400 a year in property tax, 51% higher than the Texas median of $4,232 and 105% higher than the US median. Sales tax in most of Texas tops out at 8.25%.
Monthly cost to buy a median home
- Mortgage payment
- $1,787
- Property tax
- $533
- Median rent, for comparison
- $1,440
Based on a $326,400 home in Elgin, 20% down and a 30-year loan at 7.28% (Freddie Mac average, week of 2026-10-01). Property tax is the median paid locally, or the county median where the local figure is not published. Insurance and fees are not included.
Elgin cost of living compared with nearby cities
Census medians. Cost grade compares each place with US places of its own size.
| Place | Distance | Median rent | Median home | Household income | Cost grade |
|---|---|---|---|---|---|
| Elgin | $1,440 | $326,400 | $91,114 | B | |
| Manor | 6 mi | $1,594 | $347,900 | $84,529 | D |
| McDade | 10 mi | $1,208 | $314,300 | $50,489 | C- |
| Camp Swift | 13 mi | $1,352 | $208,500 | $63,944 | D |
| Hornsby Bend | 14 mi | $2,147 | $314,900 | $89,614 | C+ |
| Pflugerville | 15 mi | $1,932 | $402,400 | $117,799 | B- |
What these numbers leave out
We only show costs we can source for Elgin itself: rent, home prices, property tax and incomes from the Census Bureau, fair market rents from HUD, and a mortgage payment at the current Freddie Mac average rate. Groceries, utilities, car insurance and health care are not included, because no public source publishes them city by city in Texas.
Cost of living in Elgin: common questions
Is Elgin, TX expensive to live in?
Elgin is a bit more expensive than most of Texas. Median rent is $1,440 a month, about the same as the Texas median of $1,403, and the median home is worth $326,400, 15% higher than the Texas median of $283,800. Prices only tell half the story. The typical household here earns $91,114, so the median home costs 3.6 times a year of income, against 3.6 times across Texas and 4.1 times across the US. That is close to the Texas norm.
How much do you need to earn to live in Elgin?
To rent a median home at $1,440 a month and keep rent at 30% of income, you need about $58,000 a year. To buy the median home, the monthly cost is about $2,320, which takes around $93,000 a year by the same rule.
What is the average rent in Elgin?
The median rent across all units is $1,440 a month (Census). HUD's fair market rent is $1,447 for a studio, $1,530 for 1 bedroom, $1,817 for 2 bedrooms, $2,292 for 3 bedrooms, $2,689 for 4 bedrooms.
How much is property tax in Elgin?
The median homeowner in Elgin pays $6,400 a year in property tax, 51% higher than the Texas median of $4,232 and 105% higher than the US median. Sales tax in most of Texas tops out at 8.25%.
Sources: US Census Bureau 2020-2024 ACS 5-year, HUD Fair Market Rents FY2027, Freddie Mac PMMS (week of 2026-10-01). Updated 2026-10-04.