Illinois · Census place 23945
Elwood, IL population, income and ZIP codes
Quick answer
The population of the city of Elwood, Illinois (Elwood, IL — Census place “Elwood village”) is 2,141 residents, ranking #496 of 1462 places in Illinois. Median household income is $73,640, the median home is worth $224,900 and median gross rent runs $986 a month. Looking for the Elwood Illinois ZIP code list? 1 ZIP codes serve Elwood, IL: 60421.
- Population
- 2,141Elwood village residents
- Median household income
- $73,640Past 12 months, inflation adjusted
- Median home value
- $224,900Owner-occupied units
- Median gross rent
- $986Rent plus utilities, monthly
- Median age
- 41.8 yrsAll residents
- Homeownership rate
- 78.3%Owner-occupied households
Elwood ZIP codes (Illinois)
Census ZCTAs whose delivery area overlaps Elwood.
The Elwood IL ZIP code list below covers 1 ZIP code. Open any one for its population, income, housing and rent profile.
What the numbers mean in Elwood village
Housing cost measured against local earnings.
A household earning the Elwood village median would spend about 16.1% of gross income on the median rent. The 30% mark is the federal threshold for cost burden, so anything above it signals a stretched rental market. The median home costs 3.1× the median household income; nationally that ratio sits near 4.5×. Poverty affects 6.2% of residents and 78.3% of households own their home.
Source: US Census Bureau, ACS 2019-2023 5-year estimates · rates as published for 2019-2023 ACS 5-year
Elwood village, IL in context
How this area compares with national benchmarks.
Elwood village is a small town in Illinois, with 2,141 residents counted in the Census American Community Survey 2019-2023 ACS 5-year estimates, which places it #496 of 1,462 ranked by population — larger than 66% of them. The median age here is 41.8 years against 39.1 nationally, a slightly older profile than the country as a whole. At this population the ACS sample is small, so the margin of error around every dollar figure below is wide — treat the numbers as a band, not a point, and expect them to move between annual releases without the place itself changing.
Households in Elwood village earn a median of $73,640 a year, 6.2% below the national figure of $78,538 and within a couple of points of the $74,244 median for the 698 Illinois cities we cover. The median is the midpoint household, not an average, so a handful of very high earners cannot drag it upward the way they distort a mean. Poverty reaches 6.2% of residents here, less than half the 12.4% national rate.
The typical owner-occupied home in Elwood village is valued at $224,900, 25.9% below the national figure and 26% above the $179,100 peer median, while median gross rent runs $986 a month, 29.9% below the national figure, or roughly $11,832 across a full year. A household on the local median income would put about 16.1% of gross pay toward that rent against the federal 30% cost-burden threshold, so renting here is cheap relative to what people here earn. The home-price-to-income ratio works out to 3.1×, against roughly 3.9× nationally, so buying is easier here than in the average US market. 78.3% of occupied homes are owner-occupied versus 65% nationally, so the market leans toward owners. The rent line includes utilities paid by the tenant, a definition worth remembering when comparing it against a landlord's quoted rate.
Every value on this page is published directly by the Census for this area — nothing is modelled or interpolated. Small-area estimates still carry wider margins of error than state or national figures, so check the linked ACS tables before relying on them for lending, appraisal or legal work.
Compare with nearby places
Places of similar size in Illinois.
- Vienna city 2,115
- Merrionette Park village 2,144
- Albion city 2,107
- Athens city 2,146
- Mason City city 2,094
- Bellevue village 2,158
- Moweaqua village 2,093
- Catlin village 2,161
Keep going
More Illinois coverage.
Frequently asked questions
Common questions about this area.
- What is the population of Elwood village?
- Elwood village has 2,141 residents on Census ACS 2019-2023 ACS 5-year estimates, ranking #496 of 1,462 in Illinois.
- What is the median household income in Elwood village?
- Median household income in Elwood village is $73,640 a year, 6.2% below the national figure of $78,538.
- How much does it cost to rent or buy in Elwood village?
- Median gross rent is $986 a month and the median home value is $224,900, so rent absorbs about 16.1% of median household income.
- Is Elwood village affordable compared with the rest of the US?
- Homes cost about 3.1× the local median income here versus roughly 3.9× nationally, so Elwood village is more affordable to buy in than the typical US market, and rent takes 16.1% of median income against the 30% cost-burden line.
- How current is this Elwood village data?
- All figures come from the US Census Bureau American Community Survey 2019-2023 ACS 5-year five-year estimates. At this population the ACS sample is small, so the margin of error around every dollar figure below is wide — treat the numbers as a band, not a point, and expect them to move between annual releases without the place itself changing.