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Elwood

Learn about the people, housing, costs and businesses in Elwood, New Jersey

Median Home$295,600
Median Rent$1,125/month
Population1,218
Leading IndustriesTransportation · Professional Services3% transportation
Home Value Growth+2.4% over 2 years
Young Adults24% of residents
Homeowners92% of occupied units
NotableHigh Incomes$93k/year · top 22% nationally
Elwood
NJ

Frequently Asked Questions

What are today's mortgage rates in Elwood?

As of today, the 30-year fixed mortgage rate for Elwood is approximately 6.932% (6.969% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Elwood?

The median home value in Elwood is $296k. The median monthly rent is $1,125. Annual property taxes average $8k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Elwood?

Home values in Elwood have increased 2.4% over the past two years. The market has been relatively stable. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Elwood?

Based on a typical all-in ownership cost of $1,709/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $73k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Elwood is $93k/year.

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What industries drive the economy in Elwood?

The largest employment sectors in Elwood are public administration (22%) and retail (10%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.