Update: Elk Grove Village Remains the Most Affordable Community for Residents
UPDATE: The new cost of living analysis reflects updates to Property Taxes and Equalized Assessed Valuation statistics. For the previous analysis from March 2018, click here.
A 2018 survey of eight comparable communities shows that Elk Grove Village continues to provide the lowest cost of living for residents. Elk Grove Village routinely compares itself to neighboring municipalities and we are proud of our reputation of offering high quality services at affordable prices. Not only has Elk Grove Village maintained our place as the most affordable community since we began this survey over ten years ago, this is also marks the 20th year that our residents have had the lowest combined property tax rate in the area.
The annual cost-of-living survey is intended to account for the entire range of municipal taxes and fees that impact residents—this includes property tax, sales tax, natural gas tax, cable franchise fees, waste/recycling services, water/sewer rates, and various other costs. Compared to comparable communities, Elk Grove Village has the lowest annual municipal impact for these taxes and fees, coming in at approximately $9,500 per year.
The Village is able to maintain this low cost of living thanks to our robust business community. We work hard to cultivate relationships and provide value to our business community to help keep costs low for residents. Elk Grove Village is dedicated to offering residents an incomparable quality of life in an affordable community—this is just one factor that makes Elk Grove Village the Exceptional Community.