Cost of Living in Elk Grove Village, IL
Population: 32,132 • 2026 Data
$95,216
Median Household Income
+23% vs national
$1,574
Median Monthly Rent
+17% vs national
$334,400
Median Home Value
-1% vs national
4.3%
Unemployment Rate
Housing in Elk Grove Village
The median home value in Elk Grove Village, IL is $334,400. Monthly rent for a typical unit averages $1,574, while total monthly housing costs (including utilities and insurance) average $1,572.
Rent-to-income ratio: 19.8%. This is within the recommended 30% threshold, suggesting housing is relatively affordable for median-income earners.
Income and Employment
The median household income in Elk Grove Village, IL is $95,216. The unemployment rate stands at 4.3%, with a labor force of 17,557 people.
Data Sources
All data from the US Census Bureau American Community Survey 5-Year Estimates. National median figures used for comparison context.