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Advertise here →Elwood, IN · Houses & Market Data
Elwood, Indiana houses and real estate market data.
Houses in Elwood, IN (Madison County) — Census median home value $92,800, county listing prices down about 0.8% over the past year. Market data for Elwood houses and the broader area.
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Elwood, IN is in Madison County, Indiana — this guide covers houses in Elwood and the whole local market: resale homes, condos, land, and new construction. The most recent Census estimate puts the population at 8,320, with a median household income of $54,084. Census data puts Elwood houses at a median value of $92,800 (all owner-occupied homes); Madison County's current median listing price runs $194,500, down about 0.8% over the past year.
Info from government sites and builders may have provided source info.
Market overview
Elwood housing market
Elwood is in Madison County, Indiana. Manifest Census and county price-trend data provide baseline context for houses in Elwood and the surrounding county market.
Median home value (Census ACS)
$92,800
Population (Census ACS)
8,320
Median household income
$54,084
County price trend (2025)
3.41% YoY
Population, income, and median home value from the project batch manifest (Census ACS 2023 5-year). County price trend from FHFA county HPI when present in the manifest row.
At a glance
Elwood market snapshot
Population
8,320
County
Madison County
Median Household Income
$54,084
Median Home Value (city)
$92,800
Median Listing Price (Madison County)
$194,500
Median Gross Rent
$838/mo
Price Trend (YoY)
-0.8%
Market data compiled from public sources; deemed reliable but not guaranteed; verify independently. See About
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What makes Elwood different
Home Value, By Source
The Census Bureau's American Community Survey (2023 5-year estimate) puts Elwood's median home value — across all owner-occupied homes, not just recent sales — at $92,800. Separately, Madison County's current median listing price (via Realtor.com data, 2026-06-01) runs $194,500. These cover different geography (city vs. county) and different measures (assessed value vs. active listings), which is why we show both rather than picking one — full source list on our data sources page.
County Price Trend
Madison County's FHFA house price index shows a 3.41% annual change in 2025.
Population & Income
Elwood has an estimated population of 8,320 and a median household income of $54,084, per the Census Bureau's American Community Survey (2023 5-year estimate).
Affordability Snapshot
Elwood's Census-reported median home value works out to about 1.7x the area's median household income, and median gross rent runs roughly 19% of that same income on an annualized basis. Housing economists commonly flag a price-to-income ratio above 4x as historically elevated -- useful context, not a personal affordability verdict.
Nearby
Places around Elwood
County guide: Madison County — cities, market context, and local resources for the county that includes Elwood.
USAHouses.com also helps visitors looking in nearby Madison County and other Indiana communities. Some locations may not yet have dedicated pages, but many licensed professionals in this region assist surrounding communities.
Nearby communities include Frankton, Orestes, Alexandria, Perkinsville, Summitville, River Forest, Edgewood, Country Club Heights, Woodlawn Heights, Fishersburg, Anderson, Lapel, Pendleton, Ingalls, Markleville.
Frankton market data
Nearby city · ~5.0 mi
Orestes market data
Nearby city · ~5.9 mi
Alexandria market data
Nearby city · ~8.7 mi
Perkinsville market data
Nearby city · ~9.0 mi
Summitville market data
Nearby city · ~11.1 mi
River Forest market data
Nearby city · ~12.6 mi
Edgewood market data
Nearby city · ~12.9 mi
Country Club Heights market data
Nearby city · ~13.0 mi
Woodlawn Heights market data
Nearby city · ~13.0 mi
Fishersburg market data
Nearby city · ~14.0 mi
Anderson market data
Nearby city · ~14.9 mi
Lapel market data
Nearby city · ~16.6 mi
Pendleton market data
Nearby city · ~18.8 mi
Ingalls market data
Nearby city · ~21.8 mi
Markleville market data
Nearby city · ~23.6 mi
More Indiana cities with market guides: Fort Wayne, Evansville, South Bend, Fishers, Carmel, Bloomington, Hammond, Noblesville.
Fort Wayne market data
Same-state city guide
Evansville market data
Same-state city guide
South Bend market data
Same-state city guide
Fishers market data
Same-state city guide
Carmel market data
Same-state city guide
Bloomington market data
Same-state city guide
Hammond market data
Same-state city guide
Noblesville market data
Same-state city guide
Adjacent-county Census places with USAHouses.com pages: Hobbs (~6.1 mi), Windfall City (~8.8 mi), Atlanta (~10.8 mi), Tipton (~10.9 mi), Arcadia (~11.9 mi), Riverwood (~13.7 mi), Cicero (~14.8 mi), Sharpsville (~15.1 mi), Goldsmith (~16.6 mi), Chesterfield (~17.0 mi), Gaston (~17.9 mi), Daleville (~18.3 mi), Yorktown (~18.5 mi), Noblesville (~18.6 mi), Kempton (~20.7 mi), Hortonville (~21.2 mi).
New construction: New homes near Elwood (Indianapolis) · Indiana new construction.
Census & home facts
Elwood data from published sources
Population (ACS 2023)
8,320
Median home value (ACS 2023)
$92,800
Median household income (ACS 2023)
$54,084
Median gross rent (ACS 2023)
$838
County FHFA annual change (2025)
3.41%
County median listing price (FRED/Realtor.com) (2026-06-01)
$194,500
Census place type
city
County
Madison County
Land area (Census Gazetteer 2024)
3.99 sq mi
Census GEOID
1821070
Census ACS, FHFA, and FRED figures are labeled with the year present in existing CSVs. Subject to change / confirm locally.
NewUSAHouses.com communities
Closest verified new-home communities near Elwood
Availability and pricing are controlled by the builder and may change; confirm with the builder.
Fair Oaks Estates Lll ↗
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Deerfield Run ↗
Champion Homes · Anderson, Indiana · ~14.9 mi
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Redbud Estates 2 ↗
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Branson Reserve ↗
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Local life
Life in Elwood
Schools
Anderson Community School Corp — 11 schools, 6,196 students enrolled, per the U.S. Department of Education's Common Core of Data. Madison addresses may be served by Anderson Community School Corp, but attendance zones vary by street — confirm assigned schools with the district before making a move.
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Common questions
Elwood FAQ
What are houses worth in Elwood, IN?
The Census Bureau's American Community Survey puts the median value of houses in Elwood at $92,800. Madison County's current median listing price runs $194,500, down about 0.8% over the past year.
How much do houses cost in Elwood, IN?
For owner-occupied houses in Elwood, Census ACS data shows a median value of $92,800. Active listing prices in Madison County may differ — see the market snapshot above.
What types of houses are in Elwood, IN?
Elwood houses include resale single-family homes, condos, mobile homes, and small multi-unit buildings, plus new construction in surrounding Madison County communities where builders are active. The housing-stock section below uses Census ACS structure counts when available for this city.
What is the population of Elwood, IN?
The U.S. Census Bureau's American Community Survey (2023 5-year estimate) puts Elwood's population at approximately 8,320.
What's the median rent in Elwood, IN?
The Census ACS estimates median gross rent in Elwood at approximately $838 per month.
What is the median household income in Elwood, IN?
Census ACS data puts the median household income in Elwood at approximately $54,084.
Is the Elwood housing market growing?
Madison County's FHFA house price index shows a 3.41% annual change in 2025.
Is Elwood, IN affordable relative to income?
Census ACS data puts Elwood's median home value at about 1.7 times the median household income, with median gross rent equal to roughly 19% of that income annually. This is a general benchmark, not a personal pre-qualification -- your own income, debt, and down payment determine what you can actually afford.
What school district serves Elwood, IN?
Manifest and public school-directory data suggest Anderson Community School Corp for many Elwood addresses, but attendance zones vary by street — verify your assigned schools with the district before making a move.
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