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The total population of Elwood is estimated to be 8,339 with 3,980 males (47.73%) and 4,359 females (52.27%). There are 379 more females than males in Elwood.
The median household income in Elwood was $50,488 in 2021, which marked an a decrease of 222(0.44%) from $50,710 in 2020. This income is 67.67% of the U.S. median household income of $74,606 (all incomes in 2022 inflation-adjusted dollars).
Per the latest American Community Survey by the Census Bureau, Elwood sees its highest median household income among householders in the age group of 45 to 64 years old, at $71,660. Overall, the median household income for the city of Elwood stands at $50,488.
In Elwood, the median income for all workers aged 15 years and older, regardless of work hours, was $38,253 for males and $24,951 for females. However, when specifically considering full-time, year-round workers within the same age group, the median income was $46,384 for males and $41,397 for females.
In Elwood, there are just two different racial groups among households. Among these, White households report a median household income of $50,318, while Two or More Races households have a median household income of $47,652.
In 2022, the population of Elwood was 8,423, a 0.05% increase year-by-year from 2021. Previously, in 2021, Elwood's population was 8,419, an increase of 0.18% compared to a population of 8,404 in 2020.
The median age in Elwood, IN is 40.6, as per 2021 ACS 5-Year Estimates. Of the total population, 18.23% were under the age of 15, 19.20% aged 15 to 29, 47.29% aged 30 to 64, 13.68% aged 65 to 84, and 1.59% were 85 years of age and older.
Racial distribution of Elwood population: 96.34% are White, 1.05% are Black or African American, 0.14% are Asian, 0.70% are some other race and 1.77% are multiracial.