Elmwood, IL
Population 2,254 · Illinois
About Elmwood, IL
Elmwood is a small community in Illinois with a population of 2,254 residents. The median household income is $87,644 per year, which is above the national average. The median age in Elmwood is 36.8 years.
Housing in Elmwood has a median home value of $144,600 and median monthly rent of $761. Of the 952 total housing units, the majority are owner-occupied, with 637 owner-occupied and 204 renter-occupied units.
The unemployment rate in Elmwood is 2.2% and the poverty rate is 11.5%. 37.0% of residents hold a bachelor's degree or higher. The average commute time is 25.1 minutes.
Cost of Living in Elmwood, IL
Compared to national averages, Elmwood has a median household income of $87,644 (17% above the national median of $75,149). Home values average $144,600, which is 41% below the national median. Monthly rent at $761 is 35% below the US average of $1,163. Within Illinois, Elmwood's income is 17% above the state average of $75,072, and home values are 13% below the state median of $165,779.
Why Live in Elmwood, IL?
Elmwood offers a strong local economy with a median household income of $87,644, well above the national average, and affordable housing with a median home value of $144,600, below the US average of $244,900, and rent that’s lower than the national average at $761/month. Additionally, the city features a strong job market with an unemployment rate of just 2.2%, and a well-educated community where 37.0% of residents hold a bachelor’s degree or higher, and a low poverty rate of 11.5%, better than the national average.
Elmwood has a population of 2,254 with a median age of 36.8 years. Compare Elmwood with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Elmwood
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Casey | 2,258 | $48,631 | $86,000 | Compare |
| Carbon Cliff | 2,248 | $55,000 | $124,600 | Compare |
| Lake Summerset | 2,240 | $105,588 | $226,700 | Compare |
| Sumner | 2,229 | $51,458 | $61,200 | Compare |
| Wayne | 2,284 | $169,583 | $674,000 | Compare |
| Hinckley | 2,286 | $81,625 | $267,600 | Compare |
| Nokomis | 2,213 | $57,625 | $78,400 | Compare |
| Tremont | 2,300 | $77,420 | $200,600 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Illinois
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Elmwood
What is the population of Elmwood, IL?
The population of Elmwood, IL is 2,254 according to the latest Census data.
What is the median household income in Elmwood?
The median household income in Elmwood, IL is $87,644 per year.
What is the median home value in Elmwood?
The median home value in Elmwood, IL is $144,600.
What is the average rent in Elmwood?
The median monthly rent in Elmwood, IL is $761.
What is the unemployment rate in Elmwood?
The unemployment rate in Elmwood, IL is 2.2%.