The Town FilesElwood, Indiana
City in Madison County · population 8,410 (2020 Census) · spans 2 counties
- Median home
- $97,800
- Household income
- $53,280
- Jan low / Jul high
- 18° / 84°
- Snow a year
- 20 in
- Tornadoes ≤10 mi since 1950
- 20
- Median age
- 43.5
Elwood is a city of 8,410 people in Madison County, Indiana. The median home is worth $97,800, below the typical Indiana town ($150,400). It ranks more walkable than 95% of Indiana towns, more vibrant than 70% of Indiana towns.
How Elwood ranks
Percentile among Indiana towns with at least 500 people on The Town Files lifestyle rankings. 50 is typical for the state; 90 means better than 90% of Indiana towns.
Homes and cost of living
The median home in Elwood is worth $97,800, below the typical Indiana town ($150,400). Homes cost about 1.8 times the median household income of $53,280, which is more affordable than 87% of Indiana towns. Median rent is $860 a month. 65.2% of households own their home.
| Housing | Elwood | Typical Indiana town |
|---|---|---|
| Median home value | $97,800 | $150,400 |
| Median rent | $860 | $888 |
| Median household income | $53,280 | $61,953 |
| Home value ÷ income | 1.8× | 2.5× |
| Homeownership | 65.2% | 73.4% |
| Median year built | 1950 | 1966 |
| Seasonal / vacation homes | 0.0% | — |
Who lives in Elwood
| People | Elwood | Typical Indiana town |
|---|---|---|
| Median age | 43.5 | 38.9 |
| Age 65 and over | 15.4% | 17.1% |
| Under 18 | 20.1% | — |
| Bachelor's degree or higher | 8.3% | 17.4% |
| Below the poverty line | 19.5% | 11.6% |
| Veterans | 6.6% | — |
| Born outside the U.S. | 0.5% | — |
| Work from home | 4.5% | 6.2% |
| Average commute | 28.6 min | 24.7 min |
| Homes with broadband | 88.3% | 89.2% |
Weather in Elwood
July highs average 83.9°F and January lows 17.7°F. About 42.5 inches of rain and melted snow fall a year, with 19.8 inches of snow (typical Indiana town: 21.1 in). Expect about 17 days a year at 90°F or hotter and 128 nights at or below freezing.
Tornadoes, storms and disasters
20 tornadoes have passed within 10 miles of Elwood since 1950, compared with 23 for the typical Indiana town. 7 rated (E)F2 or stronger. The strongest, an F3, struck on April 9, 1953 about 1.8 miles from the town center and killed 1. Tornadoes within 10 miles have caused 2 deaths and 12 injuries since 1950. The most recent was on July 29, 2024.
Hail of 1 inch or larger has been reported within 10 miles 44 times; the largest was 1.75 inches on June 8, 2018.
Severe weather in Madison County since 1996
Madison County has been included in 23 federal disaster or emergency declarations since 1953, most often for flood, hurricane, snowstorm.
| Declared | Incident | Declaration |
|---|---|---|
| August 25, 2026 | Flood | DR-4933: Severe Storms, Straight-Line Winds, Tornadoes, And Flooding |
| August 15, 2026 | Flood | EM-3651: Severe Storms, Straight-Line Winds, Tornadoes, And Flooding |
| January 24, 2026 | Winter Storm | EM-3641: Severe Winter Storm |
| July 22, 2025 | Flood | DR-4882: Severe Storms, Straight-Line Winds, Tornadoes, And Flooding |
| April 3, 2020 | Biological | DR-4515: Covid-19 Pandemic |
Jobs and pay in Madison County
Madison County had 40,192 jobs in 2024, paying an average of $49,965 a year. Unemployment was 3.6% in 2023; in Elwood itself the ACS puts it at 6.2%.
Public schools in Elwood
4 public schools with 1,455 students, about 13.0 students per teacher.
| School | Grades | Students | Per teacher |
|---|---|---|---|
| Elwood Jr-Sr High School | 7-12 | 633 | 13.5 |
| Elwood Intermediate School | 3-6 | 426 | 13.7 |
| Elwood Elementary School | PK-2 | 396 | 15.8 |
| John H Hinds Career Center | 6-12 | — | — |
Towns near Elwood
- Alexandria, IN8.6 mi · 5,149 people · home $97,800
- Tipton, IN10.9 mi · 5,275 people · home $161,700
- Fairmount, IN14.1 mi · 2,682 people · home $103,200
- Cicero, IN14.8 mi · 5,301 people · home $282,100
- Anderson, IN14.9 mi · 54,788 people · home $119,000
- Yorktown, IN18.5 mi · 11,548 people · home $186,700
- Noblesville, IN18.6 mi · 69,604 people · home $349,700
- Pendleton, IN18.8 mi · 4,717 people · home $248,200
Elwood questions
Is Elwood, Indiana a good place to retire?
On The Town Files lifestyle rankings, Elwood scores better for retirees than 21% of Indiana towns and quieter than 34%. 15.4% of residents are 65 or older (median age 43.5).
How much does a house cost in Elwood?
The median owner-occupied home in Elwood is valued at $97,800 (Census ACS 2020–2024), against a median household income of $53,280, so homes cost about 1.8 times income. Median rent is $860 a month.
What is the weather like in Elwood?
July highs average 83.9°F and January lows 17.7°F (NOAA 1991–2020 normals). It gets about 42.5 inches of precipitation a year and 19.8 inches of snow.
Does Elwood get tornadoes?
20 tornadoes have passed within 10 miles of Elwood since 1950 (NOAA Storm Events); the strongest was a F3 on April 9, 1953. The typical Indiana town has had 23.
- U.S. Census Bureau, American Community Survey 5-year estimates (2020–2024)
- U.S. Census Bureau, 2020 Census and 2025 Gazetteer (2020 / 2025)
- NOAA NCEI U.S. Climate Normals (1991–2020)
- NOAA NCEI Storm Events Database (1950–2026)
- FEMA OpenFEMA Disaster Declarations (this product uses the FEMA OpenFEMA API but is not endorsed by FEMA) (1953–2026)
- NCES Common Core of Data (2023–24)
- BLS Quarterly Census of Employment and Wages; USDA ERS county unemployment (BLS LAUS) (2000–2024)
- The Town Files lifestyle rankings, built from federal demographic, school, crime and housing data (2025)