The small town of Elwood, Indiana, located in Madison County, is filled with charm and character. Just over 8,000 people call this rural community home. Residents of Elwood enjoy a low cost of living; with 2 bedroom rent at just $850 per month compared to the US average of $1,430. Additionally, groceries cost 91 out of 100 when compared to the national standard. The town offers many attractions such as carnivals and festivals throughout the year.
Elwood is home to several businesses providing employment opportunities for local residents including KPC News Group Inc., Gordon Food Service Distribution Center, General Motors Corporation Hydramatic Division Plant, and Elwood Hay & Grain Company. KPC News Group Inc publishes 10 newspapers and 18 shoppers each week across Indiana and Ohio while Gordon Food Service Distribution Center provides food products to restaurants, schools, hospitals, and more throughout Ohio and Michigan. General Motors Corporation Hydramatic Division Plant manufactures automotive components while Elwood Hay & Grain Company supplies hay products to customers in Indiana and surrounding states.
Overall, Elwood is an inviting city that offers small town charm with big city amenities - ideal for those who wish to enjoy a quiet lifestyle without sacrificing convenience or fun activities.
Elwood (zip 46036) has an unemployment rate of 5.4%. The US average is 6.0%.
Elwood (zip 46036) has seen the job market increase by 2.5% over the last year. Future job growth over the next ten years is predicted to be 35.4%, which is higher than the US average of 33.5%.
Tax Rates for Elwood (zip 46036)
- The Sales Tax Rate for Elwood (zip 46036) is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Elwood (zip 46036) is 5.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Elwood (zip 46036)
- The average income of a Elwood (zip 46036) resident is $20,303 a year. The US average is $28,555 a year.
- The Median household income of a Elwood (zip 46036) resident is $53,580 a year. The US average is $69,021 a year.