Elwood, NY
Population 11,140 · New York
About Elwood, NY
Elwood is a mid-sized city located in New York with a population of 11,140 residents according to the latest US Census Bureau American Community Survey data. The median household income is $170,987 per year, which is 128% above the national median of $75,149. The median age of 47.2 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Elwood features a median home value of $664,200, which is 171% above the national median of $244,900. This places Elwood in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $1,455, 25% above the national average of $1,163/month. Of the 3,866 total housing units, 97% are owner-occupied (3,693 units) and 3% are renter-occupied (131 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Elwood shows an unemployment rate of 1.8%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 3.5%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Elwood have an average one-way commute time of 43.4 minutes, suggesting many residents commute to jobs in a nearby metro area.
Education & Demographics
52.2% of Elwood residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 0.1% White, 1.1% Hispanic or Latino, 2.9% Black or African American, and 6.3% Asian residents, with 8.4% of the population being foreign-born.
Cost of Living in Elwood, NY
Compared to national averages, Elwood has a median household income of $170,987 (128% above the national median of $75,149). Home values average $664,200, which is 171% above the national median. Monthly rent at $1,455 is 25% above the US average of $1,163. Within New York, Elwood's income is 76% above the state average of $96,987, and home values are 72% above the state median of $387,181.
Why Live in Elwood, NY?
Elwood offers a strong local economy with a median household income of $170,987, well above the national average, and a strong job market with an unemployment rate of just 1.8%, and a well-educated community where 52.2% of residents hold a bachelor’s degree or higher. Additionally, the city features a low poverty rate of 3.5%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $664,200. However, Elwood’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Elwood has a population of 11,140 with a median age of 47.2 years. Compare Elwood with other cities to see how it stacks up, or explore all cities in New York.
Similar Cities Near Elwood
Cities in New York with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| North Lindenhurst | 11,153 | $125,369 | $469,400 | Compare |
| Middle Island | 11,086 | $89,702 | $347,900 | Compare |
| Great Neck | 11,068 | $137,095 | $953,400 | Compare |
| Lake Grove | 11,050 | $119,558 | $550,700 | Compare |
| North Bellport | 10,999 | $99,551 | $392,100 | Compare |
| Terryville | 10,962 | $112,262 | $445,100 | Compare |
| Roessleville | 11,327 | $87,022 | $249,100 | Compare |
| Fulton | 11,339 | $52,123 | $100,900 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in New York
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Elwood With Other Cities
Frequently Asked Questions about Elwood
What is the population of Elwood, NY?
The population of Elwood, NY is 11,140 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in New York.
What is the median household income in Elwood?
The median household income in Elwood, NY is $170,987 per year, which is 128% above the national median of $75,149.
What is the median home value in Elwood?
The median home value in Elwood, NY is $664,200, which is 171% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Elwood?
The median monthly rent in Elwood, NY is $1,455, which is 25% above the national average of $1,163/month.
What is the unemployment rate in Elwood?
The unemployment rate in Elwood, NY is 1.8%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Elwood, NY a good place to live?
Elwood offers above-average incomes, a competitive housing market, and a strong job market. With a population of 11,140 and a median age of 47.2, the city appeals to established professionals and retirees.
How educated is Elwood, NY?
52.2% of residents in Elwood aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Elwood?
Key cost-of-living indicators for Elwood, NY: median home value is $664,200 (171% above national), median rent is $1,455/month, and median household income is $170,987. The home-value-to-income ratio is 3.9x, a moderate figure by national standards.
What is the poverty rate in Elwood?
The poverty rate in Elwood, NY is 3.5%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Elwood, NY?
Elwood's population is 0.1% White, 1.1% Hispanic or Latino, 2.9% Black or African American, 6.3% Asian, and 4.2% two or more races. 8.4% of residents are foreign-born.