Elwood, IN Cost Of Living
Cost Of Living In Elwood, IN Summary
Cost of living in Elwood research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Elwood is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Indiana, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Elwood is 81, with 100 being the average.
The cost of living index in Elwood is 0.8x lower than the national average.
Elwood ranks as the #7 cheapest in Indiana out of 128.
Elwood ranks as the #158 cheapest out of 6,489 in the US.
The median home value in Elwood is $139,803.
The median income in Elwood is $54,084.
Table Of Contents
Elwood's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Elwood, IN?
According to the most recent data on the cost of living, Elwood has an overall cost of living index of 81, which is 0.8x lower than the national index of 100.
Compared to Indiana, Elwood has a cost of living index that's 0.9x lower than Indiana's index of 92.
The standard of living in Elwood ranks as #7 most affordable out of the 128 places we measured in Indiana. By definition, that implies Elwood ranks as the #121 most expensive place in the Hoosier State.
For more reading on life in Elwood, check out:
In Indiana
In America
Elwood Cost Of Living Vs. Indiana
Six factors go into calculating the cost of living index in Elwood. Here is how it fairs on each of the criteria:
The Services index in Elwood is 90.
The Groceries index in Elwood is 101.
The Health index in Elwood is 92.
The Housing index in Elwood is 51.
The Transportation index in Elwood is 90.
The Utilities index in Elwood is 106.
| Living Expense | Elwood | Indiana | National Average | |
|---|---|---|---|---|
| Overall | 81 | 92 | 100 | |
| Services | 90 | 95 | 100 | |
| Groceries | 101 | 97 | 100 | |
| Health | 92 | 94 | 100 | |
| Housing | 51 | 73 | 100 | |
| Transportation | 90 | 94 | 100 | |
| Utilities | 106 | 107 | 100 | |
Elwood, IN Housing Cost Breakdown
Housing swings affordability the most between places in Indiana, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2019-2023. The key points are:
The Median Home Value in Elwood is $139,803.
The Median Rent in Elwood is $838.
The Median Income in Elwood is $54,084.
The Home Value To Income in Elwood is 2.6x.
The Rent To Monthly Income in Elwood is 0.19x.
Median Home Value
Median Rent
Median Income
Elwood, IN Costs By Category
Detailed Elwood Services Costs Vs. Indiana
Detailed Elwood Groceries Costs Vs. Indiana
Detailed Elwood Health Costs Vs. Indiana
Detailed Elwood Transportation Costs Vs. Indiana
Detailed Elwood Utilities Costs Vs. Indiana
Elwood SnackAbility
/10
Cost Of Living In Cities Around Elwood
The cost of living varies in the cities and towns around Elwood. Here's a quick look at the cost of living in the most populous nearby places:
Carmel, IN has a cost of living index of 119, 1.5x Elwood.
Noblesville, IN has a cost of living index of 104, 1.3x Elwood.
Westfield, IN has a cost of living index of 114, 1.4x Elwood.
| City | Population | Cost Of Living | Vs. Elwood |
|---|---|---|---|
| Carmel, IN | 100,501 | 119 | 1.5x |
| Noblesville, IN | 71,940 | 104 | 1.3x |
| Westfield, IN | 51,109 | 114 | 1.4x |
| Lawrence, IN | 49,284 | 96 | 1.2x |
| Zionsville, IN | 31,442 | 127 | 1.6x |
| Brownsburg, IN | 30,310 | 101 | 1.2x |
| Greenfield, IN | 24,308 | 95 | 1.2x |
| Middletown, KY | 9,622 | 105 | 1.3x |
| Cumberland, IN | 6,154 | 96 | 1.2x |
