Elk Grove Village, IL vs Waterloo, IL

The cost of living difference between Elk Grove Village, IL and Waterloo, IL is dramatic. Waterloo is 40.1% cheaper than Elk Grove Village, a gap that translates to thousands of dollars per year in household expenses. Elk Grove Village has a cost index of 111 while Waterloo sits at 79, making this one of the more striking comparisons on our site. Relocating between these cities would require a serious reassessment of budget and lifestyle expectations.

On the housing front, median rent in Elk Grove Village is $1,574/month compared to $873/month in Waterloo — a 80% difference. Home values follow the same pattern: Waterloo is more affordable at $237,900 median vs $334,400.

Median household income in Elk Grove Village is $95,216 compared to $92,005 in Waterloo (+3.5%). Elk Grove Village does offer higher incomes, but the salary premium barely offsets the higher cost of living, leaving residents with a tighter budget. Looking at affordability, residents of Elk Grove Village spend roughly 19.8% of their income on rent, more than the 11.4% in Waterloo.

Climate-wise, Waterloo is notably warmer with an average of 56.5°F compared to 51.3°F in Elk Grove Village. Waterloo receives more rainfall at 40.8" per year compared to 37.9" in Elk Grove Village.