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These days, finding an affordable place to live in the Elwood area can be challenging. Home prices in Elwood are now at a median cost of $279,304, lower than the Illinois average of $300,242.
The average cost of rent is $1,497/mo in Elwood, primarily driven by the current value of real estate in the Elwood area. In Elwood, 14.66% of households rent, and 38.05% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Elwood is $9,010 per month. Households that rent pay about 16.61% of their income on rent here. Elwood’s most expensive areas are in the eastern regions, while the cheapest areas are in the northwestern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Rockdale, IL: less expensive homes
- Manhattan, IL: higher priced homes
- Symerton, IL: higher priced homes
- Channahon, IL: higher priced homes
- Joliet, IL: less expensive homes
- New Lenox, IL: higher priced homes
- Shorewood, IL: higher priced homes
- Wilmington, IL: less expensive homes
- Minooka, IL: higher priced homes
- Lorenzo, IL: higher priced homes
Cities with Similar Populations
- Bethany, MO: less expensive homes
- Waterbury, VT: higher priced homes
- Warrensburg, NY: less expensive homes
- South Fulton, TN: less expensive homes
- Sherman, CT: higher priced homes
- Milford, IN: less expensive homes
- Lyons, KS: less expensive homes
- Lake Ann, MI: equally priced homes
- Jennings, FL: less expensive homes
- Jackson, SC: less expensive homes
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