Rentometer, Inc. | Data as of 10/22/2025
Elwood, Indiana offers a diverse rental market that caters to a wide range of renters, from young professionals seeking modern apartments to families looking for spacious homes. Two‑bedroom apartments in the city tend to fall within the $1,200 range, providing contemporary amenities and convenient access to downtown. For those who prefer a more traditional living space, two‑bedroom houses are typically priced in the $900–$1,100 range, while larger three‑bedroom homes command rates around the $1,600–$1,800 mark, reflecting their increased size and often larger lot locations.
The city’s neighborhoods each bring their own unique character. The historic downtown district is prized for its walkable streets, local boutiques, and vibrant dining scene, making it an attractive spot for renters who enjoy an active urban lifestyle. To the east, the family‑friendly Riverview area offers quiet streets, well‑maintained parks, and easy access to the Elwood Community Center. Proximity to the White River and several green spaces also provides ample opportunities for outdoor recreation, enhancing the appeal of both apartments and single‑family homes throughout the city.
Overall, Elwood’s rental market is marked by a balance of affordability and quality, with a steady demand for both multi‑unit apartments and single‑family residences. The city’s mix of historic charm, convenient amenities, and a welcoming community makes it an excellent choice for renters seeking a comfortable and engaging place to call home in Indiana.
| Property Type | Bedrooms | Average | Median | Min - Max | 25th - 75th |
|---|---|---|---|---|---|
| Apartment | 2 Bedroom | $1,185 | $1,195 | $1,095 - $1,295 | $1,095 - $1,250 |
| House | 2 Bedroom | $949 | $950 | $649 - $1,250 | $850 - $1,250 |
| House | 3 Bedroom | $1,637 | $1,750 | $1,300 - $1,750 | $1,500 - $1,750 |
In the current period, the average rent in Elwood was
$1,100 for 2 Bedroom, and
$1,638 for 3 Bedroom.
Note: This analysis includes only bedroom types with sufficient data.
Data provided by Rentometer, Inc.