Similar to its surrounding areas, it is a lot less expensive compared to the rest of the country. It's substantially less expensive compared to the city of Fort Wayne.
Home prices
The median home in Elwood is valued at $68,800. This is roughly $3,100 (4%) lower in comparison to other places in this area.In comparison to the entire nation it is about $148,700 (68%) lower, and it is about $46,300 (40%) lower compared to the city of Fort Wayne.
Rents
In Elwood the median rent is $697 a month. It is roughly $56 (7%) lower compared to other places in this area.In comparison to the entire country it is approximately $365 (34%) lower, and compared to the city of Fort Wayne is about $67 (8%) lower.
Nearby places
Frankton
Frankton is roughly 4 miles southeast of Elwood. The housing prices there are a bit more expensive. The median home value in Frankton is $85,700, which works out to $16,900 (19%) higher than Elwood. Its rents are fairly similar. Frankton's median rent is $729 a month, which works out to $32 (4%) higher than Elwood.
Orestes
Orestes is roughly 5 miles east of Elwood. Its housing prices are somewhat less expensive. The median home value in Orestes is $56,800, which comes out to $12,000 (21%) lower than Elwood. Its rents are a bit more expensive. Orestes's median monthly rent is $743, which is $46 (6%) higher than Elwood.
Alexandria
Alexandria is roughly 7 miles east of Elwood. Its housing prices are pretty similar. The median home in Alexandria costs $72,400, which comes out to $3,600 (4%) higher than Elwood. Rent there is a bit more expensive. Alexandria's median monthly rent is $780, which comes out to $83 (10%) higher than Elwood.
Windfall City
Windfall City is approximately 8 miles northwest from Elwood. Housing prices there are somewhat less expensive. The value of the median home in Windfall City is $53,400, which is $15,400 (28%) lower than Elwood. The rent there is a little more expensive. Windfall City's median monthly rent is $738, which comes out to $41 (5%) higher than Elwood.
Tipton
Tipton is roughly 9 miles west from Elwood. Real estate prices there are somewhat more expensive. Tipton's median home cost is $91,200, which is $22,400 (24%) higher than Elwood. The rent there is a little more expensive. Tipton's median monthly rent is $775, which works out to $78 (10%) higher than Elwood.
