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Elwood, IN Homes for Rent

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  • /35

    Starting at $1,005 Per Month

    • 1 - 2 Beds

    9401 Frans Way, Elwood, IN 46036

    Traditional apartment living on golf course - Whoa! stop by and see what golf course living looks like. Bring your pets and view nature close by wildlife, stream, woods and sunsets. Frisbee golf close by. Garages available across the street for extra storage. Choose a patio or elevated deck to enjoy the outdoors. This unique rental community offers a variety of living options for

    Bison Ridge Estates

    9401 Frans Way, Elwood, IN 46036
  • /20

    Starting at $1,295 Per Month

    • 2 Beds

    209 S 16th St, Elwood, IN 46036

    Your first month is free here at The Tin Plate Apartments At Veteran's Park! Building 1 is filling up and we have a few units left. Buildings 2 and 3 are available now as well! Brand new construction with brand new appliances included. Don't be afraid to drive past for a quick look at Veteran's park in the middle of the complex with the memorial and flags to honor current and former military

    Tin Plate Apartments

    209 S 16th St, Elwood, IN 46036
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    $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
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    $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
  • /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
  • /18

    $1,250 Per Month

    • 3 Beds
    • 1.5 Baths
    • 1,024 Sq Ft
    • House for Rent

    1926 N D St, Elwood, IN 46036

    This beautifully remodeled Elwood property is perfect for easy & modern living. The kitchen has brand new appliances and both it and the living room have brand new vinyl flooring! With all new paint, carpet, bronze and nickel fixtures, this property is a step above the competition in quality. The backyard is extra large for any activity and the shed is perfect for extra storage. Don't hesitate,

    1926 N D St, 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
  • /4

    $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.At Premier Management Solutions, we strive to provide an experience that is cost-effective and convenient.

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

Why Live in Elwood

Elwood, Indiana, known as the "Heart of Hoosierland," is a small city offering a family-friendly atmosphere within a 30-minute drive of Fishers and Noblesville. With a population of around 8,500, many residents commute for work, although local employment opportunities exist with companies like Elsa Automotive and Red Gold. The city has a mix of century-old homes, including gablefront and Craftsman-inspired styles, alongside newer traditional builds in subdivisions. Elwood Community Schools serve the area, with Elwood Elementary School receiving a high rating. The city features several parks, such as Callaway Park, and is home to the Elwood Golf Course. A new aquatic center is also in development. Downtown Elwood hosts locally owned restaurants like The Tin Plate and the Opera House Eatery, offering a nod to the city's industrial past. Annual events like the Elwood Glass Festival and the Red Gold Chili Cook-off highlight the community's heritage and spirit. While there is no public transportation, major routes like 28 and 13 facilitate travel, and Ascension St. Vincent Mercy Hospital provides local healthcare. The presence of Norfolk Southern trains adds a unique aspect to the city, with tracks running through the center of C Street.

Frequently Asked Questions

How much does it cost to rent a home in Elwood, IN?
The median rent for a home in Elwood, IN is $837 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 $33,480 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 $837 per month in Elwood, IN, renters typically need to show $2,511 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 16.7, 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.
What neighborhoods in Elwood, IN are best for renting a home?
The best neighborhood for renting in Elwood, IN depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a home include West Noblesville, East Carmel, Bon Air and Center City, each with its own character and price range.

Rental Home Trends

Number of Homes for Rent
8
Median Rent
$837
Median Single Family Home Rent
$1,123
Median Condo Rent
$825
How to Rent a Home