Loading
Assembling your view…
Crunching costs, sorting signals, rendering insights.
Crunching costs, sorting signals, rendering insights.
Moving to Elgin looks like a financial upgrade — better income-to-cost ratio.
Elgin has a cost index of 103 vs 108 for Tempe. Elgin is 5 points cheaper overall. Monthly rent goes from $1,679 to $1,736 (+3%).
If you earn the Tempe median of $77,643, you would need approximately $74,048/year in Elgin to maintain equivalent purchasing power, based on the cost index difference of 5 points (5%).
Median rent in Tempe is $1,679/month. In Elgin it is $1,736/month — a difference of +$57 per month, or $684 per year.
Moving to Elgin looks like a financial upgrade — better income-to-cost ratio. The salary equivalent to maintain your current lifestyle is $74,048/year in Elgin. The median income there is $88,316.
Estimated monthly essentials total $3,731 in Tempe vs $3,689 in Elgin — a difference of $42/month ($504/year).
The median home price in Elgin is $323,259 vs $466,198 in Tempe. With 20% down and a 6.5% rate, the estimated monthly mortgage payment is $1,635 in Elgin vs $2,357 in Tempe.