Elwood

Population: 8,320
Median household income: $54,084
Median home value: $92,800

Elwood is a community in Madison County, Indiana, home to 8,320 residents. Its median household income of $54,084 runs below the Madison County figure of $62,632.

From 2019 to 2023, Elwood's population declined 1.4% from 8,441 to 8,320, while its median home value rose 34.9% from $68,800 to $92,800.

The median resident is 43.7 years old. The largest age group is 55 to 64, 15.8% of residents.

Demographics

ACS 2019–2023

Population: 8,320
Median age: 43.7 yrs
Median household income: $54,084
Median home value: $92,800
Median gross rent: $838
Housing units: 4,028
Homeownership rate: 63.9%
Bachelor's degree or higher: 7.1%
Unemployment rate: 6.9%

Trends

ACS 5-year · 2019–2023

Population

8,4418,320

Median household income

$41,777$54,084

Median home value

$68,800$92,800

Median gross rent

$697$838

Year	Population	Median household income	Median home value	Median gross rent
2019	8,441	$41,777	$68,800	$697
2020	8,435	$44,752	$68,300	$723
2021	8,295	$46,709	$70,900	$748
2022	8,339	$52,139	$85,200	$782
2023	8,320	$54,084	$92,800	$838

Each year is a US Census Bureau ACS 5-year estimate ending that year.

Age distribution

Under 56.5%

5 to 1714.0%

18 to 249.2%

25 to 3412.3%

35 to 4413.3%

45 to 5412.7%

55 to 6415.8%

65 to 749.7%

75 and over6.6%

	Count	Share
Under 5	537	6.5%
5 to 17	1,161	14.0%
18 to 24	768	9.2%
25 to 34	1,020	12.3%
35 to 44	1,108	13.3%
45 to 54	1,058	12.7%
55 to 64	1,318	15.8%
65 to 74	804	9.7%
75 and over	546	6.6%

Race & ethnicity

	Count	Share
White (non-Hispanic)	7,778	93.5%
Black or African American	50	0.6%
American Indian & Alaska Native	0	0.0%
Asian	44	0.5%
Native Hawaiian & Pacific Islander	0	0.0%
Some other race	7	0.1%
Two or more races	137	1.6%
Hispanic or Latino (any race)	304	3.7%

Educational attainment (age 25+)

No high school diploma9.1%

High school graduate52.9%

Some college or associate's30.9%

Bachelor's degree5.6%

Graduate or professional degree1.5%

	Count	Share
No high school diploma	531	9.1%
High school graduate	3,099	52.9%
Some college or associate's	1,811	30.9%
Bachelor's degree	328	5.6%
Graduate or professional degree	85	1.5%

Commute to work

Mean travel time to work: 27 min

Drove alone75.1%

Carpooled19.1%

Public transit0.0%

Walked0.2%

Bicycle0.0%

Worked from home4.6%

Other means1.0%

How workers get to work

	Count	Share
Drove alone	3,154	75.1%
Carpooled	804	19.1%
Public transit	0	0.0%
Walked	7	0.2%
Bicycle	0	0.0%
Worked from home	193	4.6%
Other means	41	1.0%

Travel time

	Count	Share
Under 15 min	1,542	38.5%
15 to 29 min	654	16.3%
30 to 44 min	689	17.2%
45 to 59 min	828	20.7%
60+ min	293	7.3%

Households

Average household size: 2.38
Poverty rate: 14.6% (1,184 of 8,120)

	Count	Share
Family households	2,178	62.7%
Nonfamily households	1,298	37.3%

Housing

Median year structure built: 1952

Occupancy

	Count	Share
Occupied	3,476	86.3%
Vacant	552	13.7%

Tenure (of occupied units)

	Count	Share
Owner-occupied	2,221	63.9%
Renter-occupied	1,255	36.1%

1-unit, detached76.1%

1-unit, attached1.0%

2 to 4 units14.3%

5 to 19 units2.7%

20 or more units1.3%

Mobile home & other4.6%

Units in structure

	Count	Share
1-unit, detached	3,065	76.1%
1-unit, attached	41	1.0%
2 to 4 units	574	14.3%
5 to 19 units	107	2.7%
20 or more units	54	1.3%
Mobile home & other	187	4.6%

Geography

Place GEOID: 1821070
Type (LSAD): 25
Land area: 3.99 sq mi
Water area: 0 sq mi
Center point: 40.2739, -85.8371