Elwood, IL demographics:
population, income, and more

Total population
2,001
-6.5% year-over-year change
Median household income
$86,458/yr
17.4% year-over-year change
Housing units
934
-3.3% year-over-year change

Elwood population

How many people live in Elwood

Elwood is home to 2,001 residents, according to the most recent Census data. Gender-wise, 46.1% of Elwood locals are male, and 53.9% are female.

Total population
2,001
-6.5% year-over-year change
Gender ratio
Male
46.1%
922
Female
53.9%
1,079
Value Percent YoY change
Male 922 46.1% -6.0%
Female 1,079 53.9% -7.0%
A higher population often means more rental variety and livelier areas. The gender balance—how many men live here compared to women—can reveal a lot about the community and the lifestyles of its residents. Use this info to get a sense of the area's pace and personality.

Age demographics

The median age in Elwood is 42, with the population distributed as follows: about 11.8% are children under 15, then 10.5% are in the 15 to 24 age group. Adults between 25 and 44 make up 29.2% of the population, while another 31% fall into the 45 to 64 bracket. Finally, around 17.5% are 65 or older.

Median age
41.7
Age breakdown
Under 15
11.8%
15 to 24
10.5%
25 to 44
29.2%
45 to 64
31%
Over 65
17.5%
Value Percent YoY change
Under 15 236 11.8% -14.5%
15 to 24 210 10.5% 8.8%
25 to 44 584 29.2% -10.2%
45 to 64 620 31% -5.8%
Over 65 351 17.5% -3.6%
The age composition helps you get insight into who lives in the area. A younger population might mean a more active, fast-paced vibe, while an older one could suggest a quieter, slower lifestyle. If there's a balanced makeup, you’re likely to find a variety of services, housing types, and community spaces that cater to different life stages.

Racial makeup

In Elwood, 93.8% of the population are US-born citizens, while 4.2% have gained naturalized citizenship. At the same time, 2% of residents are non-citizens. There’s also a share of 4.7% that includes residents with two or more races.

Citizenship
U.S.-born citizens
93.8%
Non-U.S.-born citizens
4.2%
Non-citizens
2%
Value Percent YoY change
U.S.-born citizens 1,877 93.8% -6.8%
Non-U.S.-born citizens 83 4.2% 0.0%
Non-citizens 41 2% -6.8%
Racial breakdown
White
84.1%
Black or African American
8%
American Indian and Alaska Native
0%
Asian
0%
Native Hawaiian and other Pacific Islander
0%
Two or more races
4.7%
Other
3.2%
Value Percent
White 1,682 84.1%
Black or African American 160 8%
Two or more races 94 4.7%
Other 65 3.2%

Households in Elwood

A peek inside Elwood households

Elwood has 857 households, with an average of 2 members in each. Of these, 69.7% are families, while the remaining 30.3% are made up of individuals living alone or with non-relatives, such as roommates.

Households stats

Total households
857
-7.0% year-over-year change
Average people per household
2
Non-family households
260
Family households
597
Value Percent YoY change
Non-family households 260 30.3% -21.4%
Family households 597 69.7% 1.2%
The mix between family and non-family households gives a glimpse into daily life. A higher percentage of families might mean more parks and schools, while more non-family setups can mean flexible housing and diverse living styles. For renters, this can signal what kinds of homes are common and can help you figure out if the area matches your lifestyle.

Housing in Elwood

The housing landscape of Elwood

Elwood's housing consists of 934 units, with 66.2% being detached single-family homes ideal for those wanting space. Attached options, including duplexes and townhouses, make up 16.8% and offer a more compact, shared living style. Then there are the multifamily buildings in the area, and for those seeking flexibility, non-traditional options like mobile homes account for 6.3% of the housing landscape.

Housing units
934
-3.3% year-over-year change
Housing types
Value Percent
1 unit, detached 618 66.2%
1 unit, attached 157 16.8%
2 units 28 3%
3 or 4 units 72 7.7%
Mobile home 59 6.3%
Homes built since 2020
0
% year-over-year change

The age of buildings in Elwood

In Elwood, the median construction year is 1992. About 9.8% of homes were built before the 1940s, with another 0.8% going up by 1949. Most development happened in the second half of the 20th century.

Construction year breakdown by decade
Value Percent YoY change
Built in 1939 or earlier 92 9.8% -2.1%
Built between 1940 and 1949 7 0.8% -87.7%
Built between 1950 and 1959 71 7.6% -1.4%
Built between 1960 and 1969 53 5.7% 60.6%
Built between 1970 and 1979 65 7% 4.8%
Built between 1980 and 1989 117 12.5% -9.3%
Built between 1990 and 1999 261 27.9% 5.2%
Built between 2000 and 2009 251 26.9% -1.2%
Built between 2010 and 2019 17 1.8% 0.0%
As a renter, knowing when homes were built helps you understand the potential condition and design of rental units. Newer builds may have more contemporary layouts, while older homes can offer character or larger lots, depending on the area.

Elwood occupancy rates

Out of the 857 occupied housing units in Elwood, 78.9% are owner-occupied, while 21.1% are lived in by tenants. Meanwhile, 8.2% of all homes on the local market sit vacant.

Occupied housing units
857
-7.0% year-over-year change
Occupancy breakdown
Renter occupied
181
Owner occupied
676
Value Percent YoY
change
Renter occupied 181 21.1% -9.5%
Owner occupied 676 78.9% -6.2%
Unoccupied housing units
8.2%
Unoccupied housing units refer to homes that are currently without residents—whether they're waiting for renters or owners, used seasonally, or simply unclaimed. A higher share of empty homes may mean more housing availability, while a low number can reflect a tighter market with more competition. This, along with the renter-vs.-owner mix, helps paint a clearer picture of what types of housing and services are likely to be available in the area.

Elwood housing costs

Housing costs in Elwood come to a median of $1,417 per month, while tenants specifically pay a median gross rent of $1,201.

Median housing costs per month
$1,417/month
This figure sums up typical monthly housing costs for all households in the area. If you own, it includes mortgage payments in addition to property taxes, insurance and HOA fees. If you rent, it accounts for rent plus extras like utilities. It’s useful for seeing how local living expenses stack up compared to other places.
Median gross rent in Elwood
$1,201/month
Gross rent gives a more complete look at what renters actually pay, including not just base rent, but also utilities and fees. It’s a key number for evaluating rental affordability in your area of interest and understanding how it compares to nearby locations.

Education in Elwood

Elwood education at a glance

About 45.5% of the population in Elwood went to high school, while 26.8% pursued college studies. Another 10.6% earned an associate degree and 11.2% hold a bachelor’s. Meanwhile, 4.6% went even further, earning a master’s or doctorate.

Education level
Value Percent YoY change
No high school 24 1.4% -11.1%
High school diploma 778 45.5% -12.4%
College diploma 459 26.8% 6.2%
Associate degree 181 10.6% -18.1%
Bachelor's degree 191 11.2% 21.7%
Graduate degree 78 4.6% -15.2%
A community’s education mix can offer insights into the local economy and housing market. Higher levels of education often align with more job opportunities and stable incomes, which can increase demand for homes and influence both rent prices and rental availability.

Income in Elwood

How much people earn in Elwood

The average annual household income in Elwood was $106,329 in 2024, the most recent annual data available, according to the U.S. Census Bureau. This marked a +5.9% change from the previous year. At the same time, the median income stood at $86,458, reflecting a +17.4% shift over the same period.

Average household income in Elwood
$106,329/year
5.9% year-over-year change
Median household income in Elwood
$86,458/year
17.4% year-over-year change

Elwood income by age

In Elwood, households led by residents aged 25 to 44 — usually in the early to mid stages of their careers — have a median income of $73,226. Those with someone between 45 and 64 in charge, often well established professionally, earn $130,500 overall. Overall, 91.9% of the locals in this community live above the poverty line.

Income breakdown by age
Value YoY change
25 - 44 $73,226 1.0%
45 - 64 $130,500 34.1%
Over 65 $66,607 18.8%
Above poverty level
1,827
Below poverty level
162
Value Percent YoY
change
Above poverty level 1,827 91.9% -8.2%
Below poverty level 162 8.1% 22.7%

Average renter income in Elwood

To get a better sense of what renters earn on average in Elwood, their median household income was $41,103 according to 2022 Census data. In addition, the rent-to-income ratio in the area, at 35.1%, shows what portion of their earnings goes toward housing expenses.

Renter median household income
$41,103
Rent-to-income ratio
35.1%
Understanding the rent-to-income ratio can help renters gauge if local housing costs align with their earnings. A ratio under 30% usually signals affordability, while exceeding this mark means rent is taking a larger-than-recommended bite out of income. That could make it harder for you to cover other costs like transportation, healthcare, or child care.

Employment in Elwood

Workforce and job types in Elwood

The job market in Elwood is powered by 1,073 working residents, spread across a range of industries and roles. 70.6% of the working population are employed in professional or administrative positions, while 29.4% are in hands-on or service-based jobs. Also, 18.4% run their own businesses, 69.3% are employed by private companies, and 10.2% work in the public sector.

Workforce demographics

Working population
1,073
-7.3% year-over-year change
White collar
757
Blue collar
316
Value Percent YoY change
White collar 757 70.6% -3.2%
Blue collar 316 29.4% -16.0%
Employer type
Self employees
18.4%
Private companies
69.3%
Governmental workers
10.2%
Not for profit companies
2%
Value Percent YoY change
Self employees 198 18.4% -7.0%
Private companies 744 69.3% -6.3%
Governmental workers 110 10.2% -14.1%
Not for profit companies 21 2% -8.7%
Unemployment rate
1.6%
-43.3% year-over-year change

Available workforce

The unemployment rate in Elwood stands at 1.6%, representing the share of the workforce currently without a job and actively looking for one.

For renters, the unemployment rate helps paint a picture of job security and financial stability in the area. Rates around 4% to 5% are considered typical. A lower-than-average rate might suggest strong job prospects and a thriving local economy, while a higher rate could hint at fewer opportunities—both useful to consider when planning a move.

Transportation in Elwood

How people get around in Elwood

Means of transportation
Value Percent YoY change
Car 917 88% -9.0%
Railroad 6 0.6% -40.0%
Motorcycle 9 0.9% 28.6%
Understanding how locals get to work can help you plan your own routine. High car usage might mean you’ll need a vehicle, while strong public transit or walkability could save you the hassle. Commute times also play a big role in quality of life—shorter trips can give you more time for the things you enjoy.

What is the median and average household income in Elwood by zipcode?

Zipcode Population Number of households Median income Average income
60421 3,649 1,492 $103,083 $125,288

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FAQs about Elwood demographics 

What is the total population of Elwood?

Elwood has a total population of 2,001 residents, according to the latest release from the U.S. Census Bureau: the 2019-2023 American Community Survey (ACS) 5-year estimates. This figure changed by -6.5% compared to a year ago.

What is the gender ratio in Elwood?

The gender ratio in Elwood is as follows:
  • 46.1% males (922 residents)
  • 53.9% females (1,079 residents)

What is the median age in Elwood?

The median age in Elwood is 41.7.

What is the age distribution of the population in Elwood?

The age distribution in Elwood is as follows:
  • Under 15: 11.8% (236 residents)
  • Ages 15-24: 10.5% (210 residents)
  • Ages 25-44: 29.2% (584 residents)
  • Ages 45-64: 31% (620 residents)
  • Over 65: 17.5% (351 residents)

What is the racial and ethnic makeup of Elwood?

The racial and ethnic makeup of Elwood is as follows:
  • White: 84.1% (1,682 residents)
  • Black or African American: 8% (160 residents)
  • American Indian and Alaska Native: 0% (0 residents)
  • Asian: 0% (0 residents)
  • Native Hawaiian and Other Pacific Islander: 0% (0 residents)
  • Two or More Races: 4.7% (94 residents)
  • Other: 3.2% (65 residents)

What percentage of the population in Elwood are U.S.-born citizens?

U.S.-born citizens represent 93.8% of the population in Elwood.

How many housing units are there in Elwood?

There are 934 housing units in Elwood, reflecting a -3.3% change compared to the previous year, according to the latest data from the U.S. Census Bureau.

How many households are in Elwood and what is the average household size?

Elwood has a total of 857 households, with an average of 2 people in each.

What is the median household income in Elwood?

Elwood has a median household income of $86,458, representing a +17.4% shift from the previous year, according to the U.S. Census Bureau.

What is the employment rate and job market overview for Elwood?

The employment rate is 98.4% in Elwood, with a workforce of 1,073 residents. Here’s a detailed breakdown of the local job market:

Job types:
  • White-collar workers: 70.6% (757 residents)
  • Blue-collar workers: 29.4% (316 residents)

Places of employment:
  • Self-employed: 18.4% (198 residents)
  • Private companies: 69.3% (744 residents)
  • Governmental workers: 10.2% (110 residents)
  • Not-for-profit companies: 2% (21 residents)

Data source & methodology

The demographic data on this page was sourced from the latest U.S. Census Bureau release—the 2019–2023 American Community Survey (ACS) 5-year estimates.

The information, issued annually, is compiled and published by the Point2Homes Research Team as soon as new data becomes available.

No representation, guarantee, or warranty is made concerning the accuracy or completeness of modified or aggregated information for particular areas.

Page last updated: September 2025