Elwood, UT
Population 1,643 · Utah
About Elwood, UT
Elwood is a small town located in Utah with a population of 1,643 residents according to the latest US Census Bureau American Community Survey data. The median household income is $99,375 per year, which is 32% above the national median of $75,149. The median age of 32.2 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Elwood features a median home value of $480,100, which is 96% 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 $1,375, 18% above the national average of $1,163/month. Of the 448 total housing units, 94% are owner-occupied (419 units) and 6% are renter-occupied (27 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Elwood shows an unemployment rate of 5.4%, which is near the national rate of 3.7%. The poverty rate stands at 3.3%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Elwood have an average one-way commute time of 24.5 minutes.
Education & Demographics
22.4% of Elwood residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 5.4% White, 0.0% Hispanic or Latino, 0.1% Black or African American, and 0.0% Asian residents, with 1.0% of the population being foreign-born.
Cost of Living in Elwood, UT
Compared to national averages, Elwood has a median household income of $99,375 (32% above the national median of $75,149). Home values average $480,100, which is 96% above the national median. Monthly rent at $1,375 is 18% above the US average of $1,163. Within Utah, Elwood's income is 12% above the state average of $88,715, and home values are 13% above the state median of $426,386.
Why Live in Elwood, UT?
Elwood offers a strong local economy with a median household income of $99,375, well above the national average, and a low poverty rate of 3.3%, better than the national average, and short commute times averaging just 24.5 minutes.
Potential considerations include a competitive housing market where the typical home costs $480,100. However, Elwood’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Elwood has a population of 1,643 with a median age of 32.2 years. Compare Elwood with other cities to see how it stacks up, or explore all cities in Utah.
Similar Cities Near Elwood
Cities in Utah with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Mantua | 1,642 | $134,239 | $570,000 | Compare |
| Mona | 1,647 | $91,552 | $418,900 | Compare |
| Ballard | 1,648 | $81,250 | $241,100 | Compare |
| Wolf Creek | 1,599 | $162,708 | $699,500 | Compare |
| Silver Summit | 1,574 | $235,329 | $2,000,001 | Compare |
| Enterprise | 1,543 | $72,407 | $311,700 | Compare |
| Duchesne | 1,744 | $78,854 | $216,700 | Compare |
| Fountain Green | 1,539 | $70,402 | $321,000 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Utah
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, UT?
The population of Elwood, UT is 1,643 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Utah.
What is the median household income in Elwood?
The median household income in Elwood, UT is $99,375 per year, which is 32% above the national median of $75,149.
What is the median home value in Elwood?
The median home value in Elwood, UT is $480,100, which is 96% 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, UT is $1,375, which is 18% above the national average of $1,163/month.
What is the unemployment rate in Elwood?
The unemployment rate in Elwood, UT is 5.4%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Elwood, UT a good place to live?
Elwood offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 1,643 and a median age of 32.2, the city appeals to young professionals and families.
How educated is Elwood, UT?
22.4% of residents in Elwood aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Elwood?
Key cost-of-living indicators for Elwood, UT: median home value is $480,100 (96% above national), median rent is $1,375/month, and median household income is $99,375. The home-value-to-income ratio is 4.8x, a moderate figure by national standards.
What is the poverty rate in Elwood?
The poverty rate in Elwood, UT is 3.3%, 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, UT?
Elwood's population is 5.4% White, 0.0% Hispanic or Latino, 0.1% Black or African American, 0.0% Asian, and 0.0% two or more races. 1.0% of residents are foreign-born.