Elwood is a city located in Madison County Indiana. With a 2020 population of 8,368, it is the 91st largest city in Indiana and the 3508th largest city in the United States . Elwood is currently declining at a rate of -0.16% annually and its population has decreased by -2.86% since the most recent census, which recorded a population of 8,614 in 2010. Elwood reached it's highest population of 12,950 in 1900. Spanning over 4 miles, Elwood has a population density of 2,279 people per square mile.
The average household income in Elwood is $55,696 with a poverty rate of 19.06%. The median rental costs in recent years comes to $697 per month, and the median house value is $68,800. The median age in Elwood is 40.5 years, 40 years for males, and 41.4 years for females.