Elwood, NE
Population 535 · Nebraska
About Elwood, NE
Elwood is a small community in Nebraska with a population of 535 residents. The median household income is $68,500 per year, which is near the national average. The median age in Elwood is 51.5 years.
Housing in Elwood has a median home value of $150,700 and median monthly rent of $775. Of the 269 total housing units, the majority are owner-occupied, with 171 owner-occupied and 49 renter-occupied units.
The unemployment rate in Elwood is 6.1% and the poverty rate is 6.6%. 25.1% of residents hold a bachelor's degree or higher. The average commute time is 22.5 minutes.
Cost of Living in Elwood, NE
Compared to national averages, Elwood has a median household income of $68,500 (9% below the national median of $75,149). Home values average $150,700, which is 38% below the national median. Monthly rent at $775 is 33% below the US average of $1,163. Within Nebraska, Elwood's income is 4% above the state average of $65,895, and home values are 20% above the state median of $125,824.
Why Live in Elwood, NE?
Elwood offers affordable housing with a median home value of $150,700, below the US average of $244,900, and rent that’s lower than the national average at $775/month, and a low poverty rate of 6.6%, better than the national average. Additionally, the city features short commute times averaging just 22.5 minutes.
Potential considerations include median household income ($68,500) that falls below the national average. However, Elwood’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Elwood has a population of 535 with a median age of 51.5 years. Compare Elwood with other cities to see how it stacks up, or explore all cities in Nebraska.
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Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Elwood
What is the population of Elwood, NE?
The population of Elwood, NE is 535 according to the latest Census data.
What is the median household income in Elwood?
The median household income in Elwood, NE is $68,500 per year.
What is the median home value in Elwood?
The median home value in Elwood, NE is $150,700.
What is the average rent in Elwood?
The median monthly rent in Elwood, NE is $775.
What is the unemployment rate in Elwood?
The unemployment rate in Elwood, NE is 6.1%.