Elwood, NJ
Population 920 · New Jersey
About Elwood, NJ
Elwood is a small community in New Jersey with a population of 920 residents. The median household income is $68,698 per year, which is near the national average. The median age in Elwood is 62.8 years.
Housing in Elwood has a median home value of $170,300 and median monthly rent of $0. Of the 445 total housing units, the majority are owner-occupied, with 445 owner-occupied and 0 renter-occupied units.
The unemployment rate in Elwood is 6.7% and the poverty rate is 8.2%. 5.4% of residents hold a bachelor's degree or higher. The average commute time is 21.9 minutes.
How Elwood Ranks in New Jersey
Cost of Living in Elwood, NJ
Compared to national averages, Elwood has a median household income of $68,698 (9% below the national median of $75,149). Home values average $170,300, which is 30% below the national median. Monthly rent at $0 is 100% below the US average of $1,163. Within New Jersey, Elwood's income is 41% below the state average of $115,667, and home values are 64% below the state median of $469,644.
Why Live in Elwood, NJ?
Elwood offers affordable housing with a median home value of $170,300, below the US average of $244,900, and rent that’s lower than the national average at $0/month, and a low poverty rate of 8.2%, better than the national average. Additionally, the city features short commute times averaging just 21.9 minutes.
Potential considerations include median household income ($68,698) 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 920 with a median age of 62.8 years. Compare Elwood with other cities to see how it stacks up, or explore all cities in New Jersey.
Similar Cities Near Elwood
Cities in New Jersey with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Fairton | 918 | $62,250 | $171,300 | Compare |
| Newtonville | 915 | $108,470 | $211,000 | Compare |
| Griggstown | 928 | $207,542 | $560,100 | Compare |
| West Cape May | 934 | $79,375 | $698,300 | Compare |
| Vienna | 940 | $124,893 | $436,300 | Compare |
| Longport | 897 | $103,523 | $1,079,500 | Compare |
| Layton | 896 | $106,799 | $333,900 | Compare |
| Milmay | 950 | $60,110 | $235,600 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in New Jersey
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, NJ?
The population of Elwood, NJ is 920 according to the latest Census data.
What is the median household income in Elwood?
The median household income in Elwood, NJ is $68,698 per year.
What is the median home value in Elwood?
The median home value in Elwood, NJ is $170,300.
What is the average rent in Elwood?
The median monthly rent in Elwood, NJ is $0.
What is the unemployment rate in Elwood?
The unemployment rate in Elwood, NJ is 6.7%.