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The median home value in Elwood, IN is $157,069 as of 2026-07-31, up 4.7% from a year earlier.
Median Home Value
$157,069
Year-over-Year
+4.7%
Population
8,430
Elwood ranks #83 of 87 Indiana cities tracked here by median home value, and sits 41.7% below the state's city median of $269,376. It sits in Madison County, where the county-wide median is $190,722.
Median household income in Elwood is $53,280, so the typical home value is about 2.9× annual household income. This is a simple price-to-income benchmark rather than a monthly payment estimate; it does not account for mortgage rates, down payments, taxes or insurance.
Household income comes from the U.S. Census Bureau's ACS 5-Year Estimates, table B19013 (how the affordability measure works).
Elwood police recorded a violent crime rate of 95 per 100,000 residents in 2024 — lower than most cities that report to the FBI. Property crime runs at 463 per 100,000.
Reported by the city's own police department to the FBI's Uniform Crime Reporting Program (what this covers).
People often call this an average home price, but the figure shown here is Zillow's typical home value (ZHVI), not a simple arithmetic average. In Elwood, that value is $157,069. That's up 4.7% from a year earlier. It is about 41.7% below the typical Indiana city tracked here.
Homes in Elwood are cheaper than Madison County as a whole, where the median is $190,722 — a difference of about 17.6%.
Median household income here is $53,280, so the typical home value is about 2.9× annual household income. This ratio is a broad comparison measure, not a mortgage-payment estimate.
Elwood police reported 95 violent crimes per 100,000 residents, covering a population of about 8,430. Crime rates are one input among many — they vary block to block within a city, and this figure is a citywide average.
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