01 - Taxes
Retirement Tax Treatment
Illinois does not tax Social Security benefits, which helps stretch retirement income even though the state does levy income tax.
Source · Tax Foundation
8
Fact text
- Elgin was named after a Scottish tune, making it possibly the only major Illinois city with a musical origin story.
- The Elgin Watch Company was once the largest producer of fine watches in the United States, and its clocks still tick away at Chicago's Union Station.
- An Elgin resident invented the motorized street sweeper in 1914, so next time one wakes you up at 6am, you know who to thank.
- Max Adler, founder of America's very first planetarium, Chicago's Adler Planetarium, called Elgin home.
- Elgin High School's alumni list reads like an awards-show afterparty: five Navy admirals, a Nobel Prize winner, a Pulitzer winner, a Tony winner, and two Oscar-winning producers.
Your
Elgin
Retirement Outlook — in 90 seconds
Hosted by Michael McMillan, President of Annuities.net
Every figure mentioned is drawn from the same sourced public data shown below — and the video updates as the data does.
112062
+
Total Population
$
72999
Median Income
$
196100
Median Home
12
%
Age 65+
Retirement Suitability
How
Elgin
ranks for retirees?
50
/ 100
A blended, sourced view of how this city ranks for retirees across tax, affordability, healthcare, and climate.
Tax
8
Affordability
86
Healthcare
82
Climate
13
Results
Elgin
Suitability Breakdown
02 - Income
Annuity Rates Available Here
Fixed annuity rates reach up to
7
% on 5-year terms, with most landing between
5
% and
5
%.
Source · Cannex
86
03 - Healthcare
Hospital Access & Quality
The area has
5
Medicare-certified hospitals, averaging a
4
/5 CMS quality rating.
Source · CMS Hospital Compare
4
04 - Climate
Weather & Comfort
A
Cold / Snowy
climate — summers peak near
82
°F, winters dip to about
16
°F, with roughly
29
″ of snow a year.
Source · NOAA Climate Normals
Cold / Snowy
05 - Risk
Natural Disaster Risk
FEMA's overall natural-disaster risk rating for this county on the National Risk Index.
Source · FEMA National Risk Index
Relatively High
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