Elgin, MN vs Montgomery, MN

Elgin is moderately more affordable than Montgomery, with a 10.8% lower cost of living index. Elgin scores 73 compared to 82 for Montgomery, where the US average is 100. This difference means residents of Montgomery can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Elgin is $738/month compared to $896/month in Montgomery — a 18% difference. Home values follow the same pattern: Elgin is more affordable at $218,200 median vs $218,900.

Median household income in Elgin is $87,000 compared to $74,018 in Montgomery (+17.5%). Elgin offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Elgin spend roughly 10.2% of their income on rent, less than the 14.5% in Montgomery.