Elwood is located in Madison county Indiana with a geographic area of 4.0 square miles. The total population in Elwood is 8,435 with 45.2% male and 54.8% female. Children under age 5 represent 6.3% of the population, under age 18 equal 22.0% of the population and over age 65 is 14.5% of the population. The median household income is $44,752, per capita income is $24,523. There are a total of 3,362 housing units with 63.5% owner occupied. Education includes 50.2% of residents that are high school graduates and 9.4% with a bachelor's degree or higher. The average temperature in Elwood in the summer is 71 degrees, and in the winter 29 degrees.
