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Elwood, IN Condos for Rent

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  • 902 S Anderson St Unit 2, Elwood, IN 46036
    902 S Anderson St Unit 2, Elwood, IN 46036
    902 S Anderson St Unit 2, Elwood, IN 46036
    /7

    $825

    Total Monthly Price

    • 2 Beds
    • 1.5 Baths
    • 650 Sq Ft
    • Condo for Rent

    902 S Anderson St Unit 2, Elwood, IN 46036

    902 S. ANDERSON #2 ELWOODSEC DEP: $825.00 $825.00 MONTHLY2 BEDROOM, 1 ½ BATHROOM UPPER APARTMENT LOCATED IN ELWOOD. HARDWOOD FLOORING THROUGHOUT. DINING ROOM, LARGE KITCHEN HAS AN ELECTRIC STOVE & REFRIGERATOR INCLUDED. VINYL FLOORING IN HALF BATHROOM & FULL BATHROOM. FULL BATH HAS A TUB AND SHOWER COMBO. STREET PARKING AVAILABLE. NO SMOKING! LAWN CARE IS PROVIDED BY OWNER.

    902 S Anderson St Unit 2, Elwood, IN 46036
  • 1522 Main St Unit 1, Elwood, IN 46036
    1522 Main St Unit 1, Elwood, IN 46036
    1522 Main St Unit 1, Elwood, IN 46036
    /12

    $850

    Total Monthly Price

    • 1 Bed
    • 1 Bath
    • 900 Sq Ft
    • Condo for Rent

    1522 Main St Unit 1, Elwood, IN 46036

    Renovated building on Main street in Elwood. Commercial space below. Two apartments upstairs with separate and locked entry. 1 apartment on main level. Each apartment includes utilities and 1 parking space in the adjacent lot. Conveniently located near government, boutiques, and entertainment.

    1522 Main St Unit 1, Elwood, IN 46036
  • 1702 S E St Unit 3, Elwood, IN 46036
    1702 S E St Unit 3, Elwood, IN 46036
    1702 S E St Unit 3, Elwood, IN 46036
    /18

    $795

    Total Monthly Price

    • Studio
    • 1 Bath
    • 300 Sq Ft
    • Condo for Rent

    1702 S E St Unit 3, Elwood, IN 46036

    Fully renovated upstairs studio apartment available in a quiet fourplex in Elwood, Indiana. This beautifully updated unit offers a modern, upscale feel with tall 10-foot ceilings throughout most of the apartment, creating an open and spacious atmosphere.The apartment features luxury-style vinyl plank flooring, recessed lighting, updated trim and doors, modern black fixtures. Stainless steel

    1702 S E St Unit 3, Elwood, IN 46036
  • 311 S 16th St Unit 201, Elwood, IN 46036
    311 S 16th St Unit 201, Elwood, IN 46036
    311 S 16th St Unit 201, Elwood, IN 46036
    /10

    $1,195 Per Month

    • 2 Beds
    • 2 Baths
    • 1,112 Sq Ft
    • Condo for Rent

    311 S 16th St Unit 201, Elwood, IN 46036

    Current Rent Special: Up to 2 months of free rent!Welcome to The all new Tin Plate Apartments At Veteran's Park. These modern styled units feature 2 bedrooms and 2 full bathrooms as well as all appliances included such as washers / dryers, refrigerators, dishwashers, ranges, and microwaves! Located in downtown Elwood, don't be afraid to drive past for a quick look at Veteran's park in the

    311 S 16th St Unit 201, Elwood, IN 46036
  • 505 N 20th St Unit 505, Elwood, IN 46036
    505 N 20th St Unit 505, Elwood, IN 46036
    505 N 20th St Unit 505, Elwood, IN 46036
    /7

    $775 Per Month

    • 2 Beds
    • 1 Bath
    • Condo for Rent

    505 N 20th St Unit 505, Elwood, IN 46036

    Welcome home to this 2-bedroom, 1-bath ground-floor apartment! Enjoy easy access with no stairs and a convenient location close to shopping, dining, schools, and major roadways. This clean, move-in-ready apartment offers comfortable living with everything you need just minutes away.

    505 N 20th St Unit 505, Elwood, IN 46036
Indiana Madison County

Condos for Rent in Elwood, IN

Frequently Asked Questions

How much does it cost to rent a condo in Elwood, IN?
The median rent for a condo in Elwood, IN is $825 per month, though prices vary by neighborhood, size, and property type. As of August 2026, condos tend to be the most affordable option while single-family homes are currently more expensive.
How much do you need to make to afford rent in Elwood, IN?
To comfortably afford the median rent in Elwood, IN, a household needs to earn roughly $34,000 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $850 per month in Elwood, IN, renters typically need to show $2,550 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Elwood, IN?
In Elwood, IN, the price-to-rent ratio is 16.5, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.

Condo Rental Trends in Elwood, IN

There are currently 5 condos available for rent in Elwood, IN. The median rent is $825 per month, with 1-bedroom condos renting at $850 and 2-bedroom condos at $825.

Rental Home Trends

Number of Condos for Rent
5
Median Condo Rent
$825
Median 1 Bedroom Condo Rent
$850
Median 2 Bedroom Condo Rent
$825
How to Rent a Home

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