Elgin, TN vs Gibson, TN

Elgin, TN and Gibson, TN have a very similar cost of living, with only a 1.3% difference in their overall index. Elgin scores 70 while Gibson scores 71 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

Renters will find that Elgin has a median rent of $433/month while Gibson comes in at $929/month, a 53% difference.

Median household income in Elgin is $22,656 compared to $52,656 in Gibson (-57%). While Gibson is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Elgin spend roughly 22.9% of their income on rent, more than the 21.2% in Gibson.