Apartments For Rent in Elwood, IN

25 rentals

Apartments For Rent Near Elwood, IN

We found 30 more apartments matching your filters just outside Elwood

What Locals Say about Elwood

  • Theresa H.
    "Small town with people who tend to spend their whole lives here. The neighbors are friendly, and keep to themselves. We have brand new sidewalks that made walking through town excellent. The parks are well-maintained as well."
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  • Ashley B.
    "Dogs are very welcome. The community is very open to dog breeds no matter the size. People walk their dogs all the time. "
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  • Jessica W.
    "Lived here all my life. Now work at the elementary school I attended. Only a 5 minute drive back and forth to work. A great little town."
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  • Mrw700
    "I've lived here most of my life and it's not to bad of a place. they do a really nice Christmas display. "
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  • Sara
    "Lots of parks and open green areas for kids to play in. Very safe and no worries when my son plays in the neighborhood."
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  • Cdjeffries2002
    "Very quiet neighborhood with great neighbors! Alot of older neighbors and everyone steps up to help them out in bad, winter weather, raking leaves and mowing. Also, neighborhood is close to downtown, 1 mile north, and 3 blocks from restaurants, gas station and dollar general."
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  • Debbiekarch
    "This town is very friendly. It’s a quiet and slow paced town. People look out for their neighbors. Traffic is light. "
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  • Scott F.
    "15 yrs here, quiet, friendly neighbors ice cream shop across the alley in back, just outgrowing this house with an expanding family "
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Average Rent Trends in Elwood, IN

Rent in Elwood, IN varies by number of bedrooms and home type. Use these charts to quickly see how rent changes.
Average rent decreased in May 2026 compared to the previous month. Rent previously peaked in Nov 2025.
MonthAverage rent
Jun 2025$1,025
Jul 2025$1,500
Aug 2025$1,400
Sep 2025$1,500
Oct 2025$1,400
Nov 2025$1,750
Dec 2025$1,535
Jan 2026$1,395
Feb 2026$1,192
Mar 2026$1,180
Apr 2026$1,000
May 2026$926
View as a graph

Average Rent By Bedroom and Home Type

In May 2026, Apartments and Condos were the most affordable home type to rent compared with Houses and Townhomes.
1 bed2 beds3 beds4 bedsAll
All home types$725$1,025$1,750—$921
Townhomes——$1,695—$1,695
Apartments and Condos$725$1,350——$799
Houses—$599$1,750—$1,616
See more information about local market trends in Elwood, IN

Frequently Asked Questions about Rentals in Elwood, IN

  • What is the average rent of an apartment in Elwood, IN?
    The average rent of an apartment in Elwood, IN is $825 per month. This is about 57% lower than the national average.
  • What is the average rent of a house in Elwood, IN?
    The average rent of a house in Elwood, IN is $1,750 per month. This is about 9% lower than the national average.
  • What is the average rent of a townhome in Elwood, IN?
    The average rent of a townhome in Elwood, IN is $1,695 per month. This is about 12% lower than the national average.
  • When is the average rent cheapest in Elwood, IN?
    In the last year, the average rent in Elwood, IN was lowest in May 2025 when it was $856 per month.
  • When is the average rent most expensive in Elwood, IN?
    In the last year, the average rent in Elwood, IN was highest in Nov 2025 when it was $1,750 per month.
  • How does the rent of a 1 bedroom apartment compare to a studio apartment in Elwood, IN?
    The average rent of a 1 bedroom apartment in Elwood, IN is $725 per month. That is about $70 less than the cost of a studio apartment.
  • How many available rental listings are in Elwood, IN?
    There are 23 available rental listings in Elwood, IN.
  • What are some zip codes in Elwood, IN?
    Elwood, IN includes zip codes such as: 46036.
  • What are some cities near Elwood, IN?
    Some nearby cities include: Orestes, Frankton, Hobbs, Windfall, Alexandria. These cities may have more rental options to explore.