Housing costs in Elwood?
A typical home costs
$253,400, which is 25.1% less expensive than the national average of
$338,100 and 4.8% more expensive than the average Illinois home, at
$241,700. Renting a two-bedroom unit in Elwood costs
$1,300 per month, which is 9.1% cheaper than the national average of
$1,430 and 3.1% more than the state average of
$1,260.
Can I afford Elwood?
To live comfortably in Elwood, Illinois, a minimum annual income of
$48,600 for a family, and
$45,200 for a single person is recommended.
What does A.I. say about Elwood?
The cost of living in Elwood, IL is very affordable compared to many other areas in the United States. The median home cost in Elwood is $141,000, which is significantly lower than the national average of $227,025. Additionally, the median household income in Elwood at $52,700 is also much lower than the national average of $61,937. This makes it a great location for those looking for an affordable place to live on a budget. Furthermore, taxes and housing expenses are low and there are plenty of local amenities available to make life more enjoyable such as restaurants and outdoor activities.