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Newest Homes for Rent in Elwood, IN

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  • 2321 S A St, Elwood, IN 46036
    2321 S A St, Elwood, IN 46036
    2321 S A St, Elwood, IN 46036
    /19

    $1,545 Per Month

    • 3 Beds
    • 2 Baths
    • 1,264 Sq Ft
    • House for Rent

    2321 S A St, Elwood, IN 46036

    Property Id: 2604811Enjoy spacious and tranquil living in a fully renovated 3 bedroom, 2 full bathroom home. Be the first to reside here since it's been completed, in almost 1300 square feet of superior attention to detail. These finishes were created with YOU in mind. Intentionally designed with expansive primary bedroom with ensuite, ample living room space to spread out, and an open

    2321 S A St, Elwood, IN 46036
  • 311 S 16th St Unit 104, Elwood, IN 46036
    311 S 16th St Unit 104, Elwood, IN 46036
    311 S 16th St Unit 104, Elwood, IN 46036
    /8

    $1,295 Per Month

    • 2 Beds
    • 2 Baths
    • 1,063 Sq Ft
    • Condo for Rent

    311 S 16th St Unit 104, 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 104, Elwood, IN 46036
  • 312 S 18th St Unit 103, Elwood, IN 46036
    312 S 18th St Unit 103, Elwood, IN 46036
    312 S 18th St Unit 103, Elwood, IN 46036
    /7

    $1,295 Per Month

    • 2 Beds
    • 2 Baths
    • 1,060 Sq Ft
    • Condo for Rent

    312 S 18th St Unit 103, 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

    312 S 18th St Unit 103, 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
    /4

    $805 Per Month

    • 2 Beds
    • 1 Bath
    • Condo for Rent

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

    505 N 20th St Unit 505, Elwood, IN 46036
  • 209 S 16th St, Elwood, IN 46036
    209 S 16th St, Elwood, IN 46036
    209 S 16th St, 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
  • 9401 Frans Way, Elwood, IN 46036
    9401 Frans Way, Elwood, IN 46036
    9401 Frans Way, Elwood, IN 46036
    /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
Indiana Madison County Elwood

Newest Homes for Rent in Elwood, IN

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 $1,295 per month, though prices vary by neighborhood, size, and property type. As of July 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 $51,800 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 $1,295 per month in Elwood, IN, renters typically need to show $3,885 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 10.8, 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 and Bon Air, each with its own character and price range.

Rental Trends in Elwood, IN

There are currently 7 homes available for rent in Elwood, IN. The median rent is $1,295 per month, with single-family homes renting at $1,270 and condos at $1,245.

Rental Home Trends

Number of Homes for Rent
7
Median Rent
$1,295
Median Single Family Home Rent
$1,270
Median Condo Rent
$1,245
How to Rent a Home

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