Elgin, IL — income, home value, property tax, and sales tax.
ZIP code 60123, centered on Elgin, sits in middle-income territory: a median household income of $87,693 and per-capita income of $37,274 place it above many parts of the region without reaching affluent levels. Homes carry a median value of $261,000, and the county-level property tax rate of 2.26% means owners pay a substantial share of that value each year. Add an 8.50% combined sales tax, and the overall tax load runs on the higher side, trimming take-home buying power even as earnings hold steady.
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