Living in Elwood, Illinois
Cost of living, income, home prices, rent and demographics of Elwood · Census data 2020–2024
Elwood has 2,001 residents with a median age of 41.7. The median household income is $86,458 (4% higher than the Illinois median), the median home value is $237,500, the median rent is $1,201/month.
Elwood at a glance
- Population
- 2,001
- Median age
- 41.7State: 39
- Median household income
- $86,458State: $83,390
- Median home value
- $237,500State: $263,300
- Median rent
- $1,201/moState: $1,274
- Homeowners
- 78.9%
- Bachelor's degree or higher
- 16.8%
- Average commute
- 32 min
Is Elwood a good place to live?
Pros: Median household income 4% higher than the Illinois median; home values 10% lower than the state median; unemployment of 1.6%; a poverty rate of 8.1%.
Cons: An average commute of 32 minutes.
The weather is best in June to September.
Cost of living in Elwood
Housing is the biggest part of the cost of living. In Elwood the median home value is $237,500, 29% lower than the U.S. median. Renters pay a median of $1,201 per month, which is 26.3% of household income. Homeowners with a mortgage pay $1,919 a month in housing costs.
Elwood median household income
The median household income in Elwood is $86,458 and the income per person is $45,722. 8.1% of residents live below the poverty line (Illinois: 11.8%).
Housing in Elwood: homes for sale and rent
- Housing units
- 934
- Owner-occupied
- 78.9%
- Renter-occupied
- 21.1%
- Vacant
- 8.2%Includes seasonal homes
- Median year built
- 1992
- Average household size
- 2.33
Elwood demographics
- Population
- 2,001
- Median age
- 41.7
- Under 18
- 14.5%
- 65 and older
- 17.5%
- Households
- 857
- Foreign-born
- 4.8%
- Veterans
- 7.8%Adults 18+
Hispanic or Latino can be of any race. Population history of Elwood ›
Education in Elwood
16.8% of adults 25 and older in Elwood have a bachelor's degree or higher (Illinois: 37.8%), and 5% have a graduate or professional degree.
Jobs and commute in Elwood
- Unemployment rate
- 1.6%State: 5.8%
- Average commute
- 32 minState: 28 min
- Work from home
- 9.9%
- Drive alone
- 81.9%
- Public transit
- 0.6%
- Walk to work
- 0%
- Homes with broadband
- 96.1%
Elwood vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Elwood | 2,001 | $86,458 | $237,500 | $1,201 |
| Preston Heights | 2,449 | $51,625 | $144,100 | $1,197 |
| Rockdale | 2,553 | $59,135 | $188,300 | $1,256 |
| Joliet | 150,445 | $92,201 | $265,800 | $1,276 |
| Manhattan | 11,026 | $128,522 | $332,600 | $1,213 |
| Wilmington | 5,494 | $66,154 | $223,800 | $888 |
| Symerton | 132 | $103,542 | $233,300 | — |
| Channahon | 13,927 | $119,494 | $327,900 | $1,708 |
| Ingalls Park | 3,015 | $57,917 | $157,800 | $1,408 |
More for people moving to Elwood
Elwood ZIP code ›Weather and climate ›Living in Elwood: FAQ
What is the median household income in Elwood, IL?
The median household income in Elwood is $86,458, 4% higher than the Illinois median of $83,390 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Elwood?
The median home value in Elwood is $237,500, compared with $263,300 in Illinois.
How much is rent in Elwood?
The median gross rent in Elwood is $1,201 per month, about 26.3% of household income.
Is Elwood, IL a good place to live?
Pluses: median household income 4% higher than the Illinois median; home values 10% lower than the state median; unemployment of 1.6%; a poverty rate of 8.1%. Minuses: an average commute of 32 minutes.
What is the median age in Elwood?
The median age in Elwood is 41.7 years (Illinois: 39).
How long is the commute in Elwood?
The average commute to work in Elwood is 32 minutes; 9.9% of workers work from home.
What is the unemployment rate in Elwood?
The unemployment rate in Elwood is 1.6% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Elwood?
16.8% of adults in Elwood have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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