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Elwood village, Illinois Demographics & Population 2026

As of 2026, Elwood village, Illinois has a total population of 2,141, the 496th largest city in Illinois, with a median household income of $73,640, which is 10% lower than the state average. The poverty rate is 6.2%.

Elwood village Quick Facts

Population 2,141
Median Household Income $73,640
Median Home Value $224,900
Poverty Rate 6.2%
Unemployment Rate 2.5%
Median Age 41.8 years
Homeownership Rate 78.3%
Affordability Ratio 3.1x
Bachelor's Degree or Higher 14.7%
High School Graduation Rate 95.6%
Diversity Index 33/100
Population 2,141 496th of 1,445
Median Income $73,640 above average
Poverty Rate 6.2% 50% lower national
Median Home Value $224,900 top 30%

How Elwood village Compares

Economy & Housing

Employment

2.5% Unemployment Rate State: 5.8% | National: 5.2%
63.9% Labor Force Participation

Housing Overview

Owner 78.3%
Renter 21.7%
Affordability Index Affordable
3.1x home value to income ratio

People & Demographics

Diversity Index

33out of 100
Low Diversity

A less diverse community where one racial or ethnic group represents a large majority.

State average: 60 | National average: 60

Education

Elwood village Rankings in Illinois

#496 Population of 1,445
#542 Median Income of 1,445
#876 Education of 1,445
#285 Home Value of 1,445

Explore Illinois Rankings

Cities by Population All cities ranked by size Richest Cities Ranked by median income Most Educated By bachelor's degree rate Most Affordable By housing affordability

Cities Similar to Elwood village

These cities in the same state have comparable population and economic profiles.

CityPopulationMedian IncomeHome ValueBachelor's+Poverty
Cambridge village2,184$72,292$120,40017.3%7.4%
Pecatonica village2,178$71,500$134,90021.1%6.6%
Moweaqua village2,093$71,364$110,40016.8%6.8%
Catlin village2,161$67,344$119,60026.2%5.5%
Farmer City city2,001$73,147$128,90015.8%9.1%

Population Overview

Elwood village is a small community located in Illinois. The total population is 2,141. It ranks as the 496th most populous out of 1,445 cities and towns in Illinois.

Age Demographics

The median age in Elwood village is 41.8 years. This is 7% higher than the state median of 38.9 years.

Economy, Income & Housing

The median household income in Elwood village is $73,640. This is 10% lower than the state median of $81,702. Compared to the national median of $78,538, household income here is 6% lower. The poverty rate stands at 6.2%. This is 47% lower than the state poverty rate of 11.7%. The unemployment rate is 2.5%. This is 56% lower than the state rate of 5.8%. The median home value is $224,900. Housing costs are 10% lower than the state median of $250,500. The home-value-to-income ratio is 3.1x. 78.3% of occupied housing units are owner-occupied. This homeownership rate is 17% higher than the state average of 66.8%.

Race & Ethnicity

The largest racial or ethnic group in Elwood village is White (non-Hispanic), making up 80.4% of the population. Hispanic or Latino residents account for 12.9%. The Black or African American population (6.2%) is well below the state average of 13.6%.

Education

14.7% of residents aged 25 and older hold a bachelor's degree or higher. This is 60% lower than the state rate of 37.2%. Nationally, 35.0% of adults hold at least a bachelor's degree. The high school graduation rate (or equivalent) is 95.6%.

Data Sources & Methodology

All demographic data for Elwood village, Illinois is sourced from the U.S. Census Bureau's American Community Survey (ACS) 5-Year Estimates (2019-2023). The ACS collects data from approximately 3.5 million households annually, providing reliable estimates for communities of all sizes. Comparisons are made against Illinois state averages and national averages calculated from the same dataset. Rankings reflect the city's position among all 1,445 Census-designated places in Illinois. For official data, visit data.census.gov.

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Frequently Asked Questions

What is the population of Elwood village, Illinois?

Elwood village, Illinois has a population of 2,141 according to the most recent U.S. Census ACS 5-Year Estimates.

What is the median household income in Elwood village, IL?

The median household income in Elwood village is $73,640, which is 6% lower the national median of $78,538.

What is the poverty rate in Elwood village, IL?

The poverty rate in Elwood village is 6.2%. This means approximately 132 residents live below the federal poverty line.

What is the racial makeup of Elwood village, Illinois?

Elwood village's population is 80.4% White, 6.2% Black, 12.9% Hispanic/Latino, and 0.0% Asian.

What is the median home value in Elwood village, IL?

The median home value in Elwood village is $224,900. The home-value-to-income ratio is 3.1x.

How educated is Elwood village, Illinois?

14.7% of adults (25+) in Elwood village hold a bachelor's degree or higher, and 5.5% hold a graduate or professional degree.