Most of Elgin is in Kane County, where a full-time job needs to pay at least $59.37 an hour before taxes to take home four times the typical studio rent.
Across the 4 ZIP codes in Elgin with HUD rent figures, studio rents run from $1,490 to $2,240 a month. At the middle rent, $1,620, a full-time job would need to pay $54.78 an hour before taxes.
What the standard would be at each ZIP code's own studio rent. The calculator and the official standard use the county figure.
| ZIP | County | Studio rent | Pay needed |
|---|---|---|---|
| 60120 | Kane County | $1,590/mo | $53.63/hr |
| 60121 | Kane County | $1,650/mo | $55.93/hr |
| 60123 | Kane County | $1,490/mo | $49.81/hr |
| 60124 | Kane County | $2,240/mo | $78.95/hr |
Under the Four Times Rent standard, a full-time job in Elgin needs to pay at least $59.37 an hour before taxes, about $123,482 a year. That is the figure for Kane County, where the typical studio rent is $1,740 a month.
Yes. Across the 4 ZIP codes in Elgin with HUD rent figures, studio rents run from $1,490 to $2,240 a month. At the middle rent of $1,620, the pay needed would be $54.78 an hour.
The minimum wage in Kane County is $15.00 an hour. The Four Times Rent standard there is 4.0 times that.
The Four Times Rent standard: a month of full-time work (160 hours) should take home at least four times the typical rent on a studio apartment in the county where the work is done. Rents: HUD FY2027 Fair Market Rents. Taxes: 2026 federal and state income taxes plus Social Security and Medicare, for a single filer. Why four times rent? · Method and data downloads