HomeIndianaMadison CountyElwood city
Elwood city, Indiana: commercial real estate data.
Elwood city is a Census city of 8,356 people across 3.99 square miles of land, in Madison County. Median household income is $53,280, 65.2 percent of occupied homes are owned, and the SBA record carries 7 7(a) approvals to borrowers here worth $1.6 m.
76 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 typecity
- Land area3.99 sq mi
- Water area0 sq mi
- Population per square mile of land2,093
- County holding the largest share of its areaMadison County, 99.9 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
- Population8,356
- Median age43.5
- Population under 181,677
- Share under 1820.1 percent
- Population 65 and over1,285
- Share 65 and over15.4 percent
- Households3,422
- Family households2,147
- Share of households that are families62.7 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$53,280
- Per capita income$27,101
- Civilian labor force4,389
- Employed4,116
- Unemployed273 plus or minus 111
- Unemployment rate6.2 percent plus or minus 2.5
- Adults 25 and over5,910
- Adults 25 and over with a high school diploma or higher92.3 percent
- Adults 25 and over with a bachelor degree or higher8.3 percent plus or minus 2.5
- Adults 25 and over with a graduate degree1.9 percent plus or minus 1.3
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Elwood
Housing in Elwood
- Housing units3,903
- Occupied units3,422
- Vacant units481 plus or minus 182
- Vacancy rate12.3 percent plus or minus 4.6
- Owner occupied2,230
- Renter occupied1,192
- Ownership rate65.2 percent
- Median owner-occupied home value$97,800
- Median gross rent, monthly$860
- Annual rent as a share of median income19.4 percent
- Single family units3,140
- Share single family80.5 percent
- Units in buildings of two or more612 plus or minus 192
- Share in buildings of two or more15.7 percent plus or minus 4.8
- Mobile homes151 plus or minus 89
- Median year structure built1950
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 commute3,891
- Commuting under 15 minutes1,214 plus or minus 313
- Share commuting under 15 minutes31.2 percent plus or minus 7.3
- Commuting 30 minutes or more1,834 plus or minus 523
- Share commuting 30 minutes or more47.1 percent plus or minus 12.4
- Drove alone78.6 percent
- Carpooled15.8 percent plus or minus 5.7
- Public transport0.0 percent
- Walked0.2 percent plus or minus 0.3
- Worked from home4.5 percent plus or minus 2.3
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Elwood
SBA loans in Elwood (7(a))
- Approvals7
- Gross approval$1,647,800
- Average approval$235,400
- Median approval$150,000
- Ninetieth percentile approval$936,000
- Largest approval$936,000
- Jobs supported30
- Jobs per approval4.3
- Loans with a final outcome0
- Paid in full0
- Charged off0
- Median term120 months
- Share on real estate terms of 20 years or more14.3 percent
- Share to franchises0.0 percent
- Distinct lenders6
- Distinct industries by NAICS6
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
SBA loans in Elwood (504)
- Approvals3
- Gross approval$1,442,000
- Average approval$480,667
- Median approval$535,000
- Largest approval$674,000
- Jobs supported24
- Loans with a final outcome2
- Charged off0
- Median term240 months
- Distinct CDCs2
US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Madison County, not Elwood
Madison County context, not Elwood figures
These are Madison 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 Madison County2,353
- Employment at those establishments, Madison County34,645
- Covered employment, Madison County40,192
- Average annual pay, Madison County$49,965
- Average weekly wage, Madison County$961
- Housing units permitted, Madison County186
- Of those, single family, Madison County186
- County product, 2024, Madison County$5,525,746,000
- County product change over the prior year, Madison County6.0 percent
- Average income of an arriving household, Madison County$49,810
Every figure in this section is published for Madison 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.
- This place is not listed as a community in the FEMA Community Status Book, so no NFIP participation or CRS class is shown.
- 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, Indiana?
8,356, in 3,422 households. Elwood city covers 3.99 square miles of land, which is 2,093 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?
Madison County, which holds 99.9 percent of the place by area. Source: US Census Bureau, cartographic boundary file, places, 2024 vintage.
What is the median household income in Elwood?
$53,280. The median owner-occupied home is valued at $97,800. Median gross rent is $860 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?
7 7(a) approvals totalling $1.6 m, across 6 lenders, median approval $150,000, plus 3 504 approvals worth $1.4 m. 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.
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 Madison 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.