Cost of Living in Elgin, ND

With a cost of living index of 60, Elgin, ND is one of the most affordable cities in the country. Living here is 40% cheaper than the national average and 14% below the North Dakota state average of 74. Elgin is a small community of 654 residents.

Housing costs are the biggest factor in Elgin's cost of living. The median monthly rent is $649 (51% below the US median of $1,319), and the median home value sits at $111,400 (63% below the national median of $304,900). At current prices, the median home costs roughly 2.8x the median household income — well within traditional affordability guidelines.

The median household income in Elgin is $40,000, which is 47% lower than the national median of $75,149. Residents spend roughly 19% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Climate is another factor for anyone considering a move to Elgin. The area sees an average annual temperature of 42.3°F, with summers averaging 66°F and winters around 18°F. Annual rainfall totals 14.3 inches spread over roughly 83 days. Cold winters mean higher heating bills, an important cost-of-living consideration.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.