HomeIllinoisWill CountyElwood village
Elwood village, Illinois: commercial real estate data.
Elwood village is a Census village of 2,001 people across 13.65 square miles of land, in Will County. Median household income is $86,458, 78.9 percent of occupied homes are owned, and the SBA record carries 1 7(a) approvals to borrowers here worth $38,000.
70 sourced place values · tier FULL · 8 sections · underlined figures are computed by MMCG Analytics, not published by the agency
Elwood
What Elwood is
- Census place typevillage
- Land area13.65 sq mi
- Water area0.15 sq mi
- Population per square mile of land147
- County holding the largest share of its areaWill County, 100.0 percent
US Census Bureau, cartographic boundary file, places, 2024 vintage. US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Elwood
How many people live in Elwood
- Population2,001
- Median age41.7 plus or minus 12.0
- Population under 18290 plus or minus 94
- Share under 1814.5 percent plus or minus 4.3
- Population 65 and over351 plus or minus 75
- Share 65 and over17.5 percent
- Households857
- Family households597
- Share of households that are families69.7 percent
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Elwood
Income and work in Elwood
- Median household income$86,458 plus or minus $18,533
- Per capita income$45,722
- Civilian labor force1,090
- Employed1,073
- Unemployed17 plus or minus 23
- Unemployment rate1.6 percent plus or minus 2.1
- Adults 25 and over1,555
- Adults 25 and over with a high school diploma or higher96.7 percent
- Adults 25 and over with a bachelor degree or higher16.8 percent plus or minus 4.8
- Adults 25 and over with a graduate degree5.0 percent plus or minus 2.9
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Elwood
Housing in Elwood
- Housing units934
- Occupied units857
- Vacant units77 plus or minus 59
- Vacancy rate8.2 percent plus or minus 6.2
- Owner occupied676
- Renter occupied181 plus or minus 77
- Ownership rate78.9 percent
- Median owner-occupied home value$237,500
- Median gross rent, monthly$1,201 plus or minus $614
- Annual rent as a share of median income16.7 percent plus or minus 9.2
- Single family units775
- Share single family83.0 percent
- Units in buildings of two or more100 plus or minus 75
- Share in buildings of two or more10.7 percent plus or minus 7.9
- Mobile homes59 plus or minus 50
- Median year structure built1992
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Elwood
How Elwood gets to work
- Workers 16 and over who commute939
- Commuting under 15 minutes178 plus or minus 81
- Share commuting under 15 minutes19.0 percent plus or minus 8.0
- Commuting 30 minutes or more412 plus or minus 107
- Share commuting 30 minutes or more43.9 percent
- Drove alone81.9 percent
- Carpooled6.1 percent plus or minus 3.8
- Public transport0.6 percent plus or minus 1.0
- Walked0.0 percent
- Worked from home9.9 percent plus or minus 5.9
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Elwood
SBA loans in Elwood (7(a))
- Approvals1
- Gross approval$38,000
- Average approval$38,000
- Median approval$38,000
- Ninetieth percentile approval$38,000
- Largest approval$38,000
- Jobs supported6
- Jobs per approval6.0
- Loans with a final outcome0
- Paid in full0
- Charged off0
- Median term84 months
- Share on real estate terms of 20 years or more0.0 percent
- Share to franchises0.0 percent
- Distinct lenders1
- Distinct industries by NAICS1
A charge-off rate is not published here. only 0 resolved loans, too few to publish a rate, and a rate over that few outcomes would move several points on one loan.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Elwood
Flood risk in Elwood
- Listed NFIP communities1
- Of those, participating1
- NFIP community number170849
- Currently effective map date02/15/19
This community carries no Community Rating System class, so no CRS premium discount applies to it.
FEMA, National Flood Insurance Program Community Status Book, Community Status Book, as retrieved.
Will County, not Elwood
Will County context, not Elwood figures
These are Will County figures. There is no place level equivalent published for any of them, so they are shown as the county backdrop and never as Elwood measurements.
- Establishments in Will County17,085
- Employment at those establishments, Will County267,545
- Covered employment, Will County263,673
- Average annual pay, Will County$60,570
- Average weekly wage, Will County$1,165
- Housing units permitted, Will County2,002
- Of those, single family, Will County1,464
- County product, 2024, Will County$50,332,938,000
- County product change over the prior year, Will County3.9 percent
- Average income of an arriving household, Will County$80,186
Every figure in this section is published for Will County as a whole and is not a measurement of Elwood. It is here because a county backdrop is what a credit committee reads a place against, and it is labelled so that it can never be quoted as the place's own.
US Census Bureau, County Business Patterns, 2023. US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages. US Census Bureau, Building Permits Survey, 2024 annual. US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024. US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Coverage
What this page does not hold.
Every item below could be filled with a plausible figure. None of them is. On a page a lender may read, a number that cannot be traced is worse than an absence, so the absences are named.
- Parcel level detail, zoning and flood zone at an address are resolved in the platform, not on this page.
SBA figures count approvals to borrowers whose address is in the place. They are not approvals for projects inside the place boundary: the tape records a borrower city and a project county, and those can differ.
Common questions
Elwood questions, answered from the record.
How many people live in Elwood, Illinois?
2,001, in 857 households. Elwood village covers 13.65 square miles of land, which is 147 people per square mile. Source: US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
What county is Elwood in?
Will County, which holds 100.0 percent of the place by area. Source: US Census Bureau, cartographic boundary file, places, 2024 vintage.
What is the median household income in Elwood?
$86,458. The median owner-occupied home is valued at $237,500. Median gross rent is $1,201 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
How much SBA lending goes to Elwood businesses?
1 7(a) approvals totalling $38,000, across 1 lenders, median approval $38,000. These count approvals to borrowers whose address is in Elwood, not projects sited inside the place boundary, and they are approvals recorded in the release rather than loans disbursed.
Do SBA loans to Elwood borrowers get paid back?
No rate is published for Elwood. only 0 resolved loans, too few to publish a rate, and a percentage over that few outcomes would move several points on a single loan. The counts are shown instead.
Is Elwood in the National Flood Insurance Program?
Yes. Elwood appears in the FEMA Community Status Book as community 170849, with no Community Rating System class, so no CRS discount applies. Whether a specific parcel sits in a mapped special flood hazard area is an address level question the platform answers.
Are the county figures on this page Elwood figures?
No, and they are labelled so. County Business Patterns, QCEW, the Building Permits Survey, BEA product and IRS migration are published for Will County as a whole and there is no place level equivalent. They appear in one clearly marked section as context and are never presented as measurements of Elwood.
Is zoning published for Elwood?
Not yet. The zoning layer is in build. Nothing on this page presents parcel level zoning.