Elgin, IL — income, home value, property tax, and sales tax.
Households in ZIP code 60538, near Elgin, bring in a median of $97,131 a year, which works out to about $36,558 per person. A median home there is valued at $267,300, and the county's 2.37% property tax rate means an owner of such a home would owe roughly $6,300 annually, or about $525 a month. Sales tax in the area runs 7.00%, so everyday purchases carry that added cost. With earnings at this level, housing costs and taxes take up a meaningful share of the budget, though the income base leaves room to cover both.
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