Cost of living in Elwood, Indiana
Elwood, Indiana has about 8,356 people. Typical rent is $860 a month, including utilities, and a typical household earns $53,280 a year. Both figures are Census 2020–2024 medians, not a listing or your pay. This site does not approve or deny benefits. A missing figure stays blank. We do not guess it.
Ranked #73 in Indiana on the 2026 Most Affordable Towns Index.
Simple answer
Typical rent is $860 a month.
Elwood is a city in Indiana. That rent number includes utilities. A typical household earns $53,280 a year.
- People
- 8,356
- Census average, 2020–2024
- Typical rent
- $860
- Median gross rent, includes utilities
- Typical pay
- $53,280
- Median household income, yearly
- Typical home
- $97,800
- Median home value
- 2-bedroom fair rent
- $1,331
- Anderson, IN HUD Metro FMR Area
Elwood, Indiana has about 8,356 people. That count is a 2020–2024 Census average, not a headcount from one day.
A typical home is worth about $97,800.
HUD's fair-market rent for a 2-bedroom in Madison County is $1,331 a month. That is the county number, not an apartment listing in Elwood. It runs from October 2026 through September 2027.
In the Indianapolis-Carmel-Greenwood, IN metro area, prices sit at 95.7 when the U.S. average is 100. That is a 2024 BEA index.
Indiana taxes wages. A typical combined sales tax is 7.0% as of January 1, 2026. That mix is statewide, not Elwood's exact store tax.
Some places in Indiana add a local wage tax. In 2023 the state average was about 0.35% of income. That is not a Elwood bill.
In July 2026, a typical Indiana home paid 16.73¢ per kilowatt-hour. That is a state average from EIA, not Elwood's bill.
EIA did not publish a 2025 all-grades gas price for Indiana in the table we use.
Among 320 places we list in Indiana with a rent figure, 191 have higher typical rent than Elwood.
Nearby places
- Frankton
Typical rent $1,186
Compare with Elwood - Alexandria
Typical rent $801
Compare with Elwood - Tipton
Typical rent $848
Compare with Elwood - Summitville
Typical rent $760
Compare with Elwood - Arcadia
Typical rent $971
Compare with Elwood - Edgewood
Typical rent $1,050
Compare with Elwood - Fairmount
Typical rent $1,026
- Cicero
Typical rent $737
EBT nearby
USDA has a live map of stores that take SNAP. We did not copy that store list here. The downloadable file is a history file for 2005 through 2025, so the live map is the one to use.
Locator page updated 2026-09-11. Last checked 2026-10-16.
Food stamps (SNAP) tools in Indiana
Bigger places in Indiana
Census 2020-2024. HUD rents for October 2026–September 2027. BEA prices for 2024. Taxes as of January 1, 2026. Checked 2026-10-16. 15,000 places are in this guide.