Cost of Living in Elgin, OR

With a cost of living index of 82, Elgin, OR is a very affordable place to live. Living here is 18% cheaper than the national average and 24% below the Oregon state average of 106. Elgin is a small community of 1,592 residents.

Housing costs are the biggest factor in Elgin's cost of living. The median monthly rent is $1,007 (24% below the US median of $1,319), and the median home value sits at $180,900 (41% below the national median of $304,900). At current prices, the median home costs roughly 3.4x the median household income — a moderately affordable ratio by today's standards.

The median household income in Elgin is $53,750, which is 28% lower than the national median of $75,149. Residents spend roughly 22% 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 42.8°F, with summers averaging 58°F and winters around 29°F. Annual rainfall totals 37.3 inches spread over roughly 146 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.