Housing costs in Elwood?
A typical home costs
$117,400, which is 65.3% less expensive than the national average of
$338,100 and 47.0% less expensive than the average Indiana home, at
$221,600. Renting a two-bedroom unit in Elwood costs
$890 per month, which is 37.8% cheaper than the national average of
$1,430 and 10.1% cheaper than the state average of
$980.
Can I afford Elwood?
To live comfortably in Elwood, Indiana, a minimum annual income of
$22,320 for a family, and
$27,200 for a single person is recommended.
What does A.I. say about Elwood?
The cost of living in Elwood, IN is quite affordable. According to the 2018 Cost of Living Index, Elwood has a score of 86.2, which is 14.8 points lower than the national average. This means that overall costs are lower than most cities and towns in America. Rent is particularly low, with the average price for a one-bedroom apartment hovering around $450 per month. Groceries, utilities and transportation are also cheaper compared to other parts of the country. In addition to a low cost of living, Elwood offers its residents plenty of amenities and great recreational opportunities – making it an ideal place to live!