Much like the surrounding areas, it is a little less expensive compared to the United States as a whole. However compared to the city of Minneapolis, it's substantially less expensive.
Home prices
The value of the median home in Elgin is $153,500. Compared to nearby areas this is roughly $6,800 (4%) lower.It is approximately $64,000 (29%) lower compared to the entire country, and it is roughly $98,100 (38%) lower in comparison to the city of Minneapolis.
Rents
In Elgin the median monthly rent is $613. In comparison to its surrounding areas this is about $97 (13%) lower.It is approximately $449 (42%) lower in comparison to the rest of the country, and it is roughly $414 (40%) lower in comparison to the city of Minneapolis.
Nearby places
Plainview
Plainview is about 4 miles northeast of Elgin. The real estate prices there are pretty similar. The median home cost in Plainview is $146,400, which works out to $7,100 (4%) lower than Elgin. Rent there is fairly similar. The median rent in Plainview is $622 a month, which is $9 (1%) higher than Elgin.
Millville
Millville is roughly 7 miles north from Elgin. The housing prices there are a lot less expensive. The price of the median home in Millville is $107,100, which is $46,400 (43%) lower than Elgin. Its rents are fairly similar. Millville's median monthly rent is $600, which works out to $13 (2%) lower than Elgin.
Eyota
Eyota is approximately 8 miles south from Elgin. The real estate prices there are a bit more expensive. The median home in Eyota costs $178,200, which works out to $24,700 (13%) higher than Elgin. The rent there is somewhat more expensive. The median rent in Eyota is $679 per month, which comes out to $66 (9%) higher than Elgin.
Dover
Dover is roughly 11 miles southeast of Elgin. The real estate prices there are a little more expensive. Dover's median home price is $169,700, which comes out to $16,200 (9%) higher than Elgin. Rent there is somewhat more expensive. Dover's median monthly rent is $675, which works out to $62 (9%) higher than Elgin.
Rochester
Rochester is roughly 12 miles southwest of Elgin. Housing prices there are somewhat more expensive. The median home value in Rochester is $200,100, which works out to $46,600 (23%) higher than Elgin. The rent there is substantially more expensive. In Rochester the median rent is $974 a month, which comes out to $361 (37%) higher than Elgin.
