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Elwood, IL
Full City Profile · Illinois · Grundy County County
3.2
/5.0
B
Good
2,141
Population
157/sq mi density
$73,640
Median Income
$43,572 per capita
$224,900
Home Value
$312,850 Zillow
$986
Median Rent
26.0% income on rent
51°F
Avg Temperature
275 sunny days/yr
133
Violent Crime/100K
1,063 property/100K
B
Overall
3.2 / 5.0
Good overall score based on economy, affordability, safety and education
A+
Economy
4.5 / 5.0
$73,640 median income, 1.6% unemployment
A+
Affordability
5.0 / 5.0
$224,900 home value, $986/mo rent
F
Safety
1.0 / 5.0
133 violent crimes/100K
C
Education
2.2 / 5.0
14.7% bachelor's degree or higher
Housing Overview
Median Home Value
$224,900
20% below
US avg: $281,900
Median Rent
$986/mo
15% below
US avg: $1,163/mo
Homeownership Rate
78.3%
20% above US avg (65.4%)
Total Housing Units
992
Median year built: 1993
Home Value by Source
Census Median
$224,900
Zillow (ZHVI)
$312,850
Median Sale Price
$305,000
Median List Price
$444,950
Census ACS, Zillow ZHVI, Redfin median sale price
Ownership vs. Renting
78.3%
Owner-Occupied
21.7%
Renter-Occupied
US avg: 65.4% owner-occupied
Fair Market Rents (HUD FY2026)
Studio
$774/mo
1 Bedroom
$854/mo
2 Bedroom
$1,063/mo
3 Bedroom
$1,370/mo
4 Bedroom
$1,561/mo
Census median rent:
$986/mo
Market Indicators (Redfin)
Median Days on Market
74 days
Sale-to-List Ratio
1.0%
Buyers market
Homes Sold
1
Price Drops
0.0%
of listings with price reduction
Price Per Sq Ft
$218
Active Inventory
7
homes for sale
Affordability & Housing Stock
Rent Burden
26.0%
of renters spending 30%+ of income on housing
16% below US avg (31.0%)
Median Year Built
1993
Average age of housing stock: 33 years
Homeownership Rate
78.3%
Complete Housing Data
Home Values
| Census Median Value | $224,900 |
| Zillow Home Value (ZHVI) | $312,850 |
| Median Sale Price | $305,000 |
| Median List Price | $444,950 |
| Price Per Sq Ft | $218 |
Rent
| Census Median Rent | $986 |
| FMR Studio | $774 |
| FMR 1-Bedroom | $854 |
| FMR 2-Bedroom | $1,063 |
| FMR 3-Bedroom | $1,370 |
| FMR 4-Bedroom | $1,561 |
Market
| Days on Market | 74 |
| Sale-to-List Ratio | 1.0% |
| Price Drops | 0.0% |
| Homes Sold | 1 |
| Active Inventory | 7 |
| Price Per Sq Ft | $218 |
Ownership & Stock
| Owner-Occupied | 78.3% |
| Renter-Occupied | 21.7% |
| Homeownership Rate | 78.3% |
| Total Housing Units | 992 |
| Median Year Built | 1993 |
| Rent Burden | 26.0% |