Rent in Elwood, IN
A 2-bedroom in Elwood, IN (ZIP 46036) typically rents for about $1,029 a month, with a range of $858–$1,200. Owner-occupied homes in Madison County pay about 0.74% of their value a year in property tax, and the 30-year fixed mortgage rate averaged 7.32% in the week of Oct 22, 2026.
Rent by bedrooms
| Size | Typical | Range across ZIPs | ZIPs |
|---|---|---|---|
| Studio | $812 | $713–$910 | 1 |
| 1 bed | $826 | $732–$920 | 1 |
| 2 beds | $1,029 | $858–$1,200 | 1 |
| 3 beds | $1,309 | $1,048–$1,570 | 1 |
| 4 beds | $1,334 | $1,087–$1,580 | 1 |
Typical = median of each ZIP's best guess. Gross rent (rent plus tenant-paid utilities). Sources: HUD Small Area Fair Market Rents (Oct 1, 2026) and Census ACS 5-year median gross rent (Dec 31, 2024).
Elwood ZIP codes
2 bedsFrequently asked questions
- What is the average rent for a 2-bedroom in Elwood, IN?
- About $1,029 a month: the median of the typical rents in 1 ZIP code, which range from $858–$1,200. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 1-bedroom in Elwood, IN?
- About $826 a month: the median of the typical rents in 1 ZIP code, which range from $732–$920. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 3-bedroom in Elwood, IN?
- About $1,309 a month: the median of the typical rents in 1 ZIP code, which range from $1,048–$1,570. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a studio in Elwood, IN?
- About $812 a month: the median of the typical rents in 1 ZIP code, which range from $713–$910. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 4-bedroom in Elwood, IN?
- About $1,334 a month: the median of the typical rents in 1 ZIP code, which range from $1,087–$1,580. Figures are gross rent (rent plus tenant-paid utilities).
- What is the property tax rate in Elwood, IN?
- Owner-occupied homes in Madison County pay a typical 0.74% of their value a year (Census ACS, median taxes paid ÷ median home value, Dec 31, 2024). Investors often pay more after a purchase: the home is reassessed at the sale price and there is no homestead exemption.
- What is the current 30-year mortgage rate?
- The 30-year fixed rate averaged 7.32% in the week of Oct 22, 2026 (Freddie Mac PMMS via FRED). It's a national average for owner-occupied loans; investment property loans usually cost more.
- Where do these Elwood rent figures come from?
- HUD Small Area Fair Market Rents (Oct 1, 2026) and Census ACS 5-year median gross rent (Dec 31, 2024).