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Newest Homes for Rent in Elwood, IN

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  • /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
  • /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
  • /7

    $745 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. This apartment has recently been freshened up. Tenant is responsible for all utilities. Security deposit

    505 N 20th St Unit 505, Elwood, IN 46036
  • /12

    $1,100 Per Month

    • 2 Beds
    • 1 Bath
    • 605 Sq Ft
    • House for Rent

    3146 Independence Dr S, Elwood, IN 46036

    Two bedroom mobile home located in the quiet town of Elwood. Kitchen includes refrigerator, stove & oven, and microwave. Full bathroom with washer/dryer hookups. *Utilities nt included ino 2 Bedroom Mobile Home, Located in the quiet town of Elwood. --HUD Approved-- 605 Square Feet

    3146 Independence Dr S, Elwood, IN 46036
  • /12

    $850 Per Month

    • 2 Beds
    • 1 Bath
    • 636 Sq Ft
    • Townhouse for Rent

    400 N Anderson St, Elwood, IN 46036

    2 bed, 1 bath 686 sq ft A smaller unit but newly updated interior with fresh paint, flooring, and remodeled bathroom. Laundry room with W/D hookup. 2 bedrooms, Living room, kitchen, laundry room, and bathroom. This unit is part of a duplex. Tenant responsible for electric and water. Non smoking home. Must pass criminal, credit, and rental background check. Elwood,

    400 N Anderson St, Elwood, IN 46036
  • /10

    $1,025 Per Month

    • 2 Beds
    • 1 Bath
    • 663 Sq Ft
    • Townhouse for Rent

    2315 Main St, Elwood, IN 46036

    Charming 2-Bedroom Duplex for Rent Welcome home to this well-maintained 2-bedroom, 1-bath duplex featuring stylish luxury vinyl plank flooring throughout and air conditioning for year-round comfort. Enjoy the privacy of your own entrance and the convenience of off-street parking. The home comes equipped with a washer and dryer, microwave, and a functional layout that's perfect for

    2315 Main St, Elwood, IN 46036
  • /5

    $1,250 Per Month

    • 2 Beds
    • 1 Bath
    • 850 Sq Ft
    • Condo for Rent

    1349 S B St Unit 2, Elwood, IN 46036

    Experience modern living in this very stylish apartment featuring espresso soft close cabinets, black hardware finishes, and granite countertops. Enjoy the convenience of stainless steel appliances and a stackable full-size washer and dryer. The modern design with oversized bedrooms and large windows create a fresh feel for the most enjoyable living atmosphere. Stay comfortable with

    1349 S B St Unit 2, Elwood, IN 46036
  • /11

    $1,250 Per Month

    • 2 Beds
    • 1 Bath
    • 850 Sq Ft
    • Condo for Rent

    1349 S B St Unit 3, Elwood, IN 46036

    Experience modern living in this very spacious and stylish apartment featuring espresso soft close cabinets, black hardware finishes, and granite countertops. Enjoy the convenience of stainless steel appliances and a stackable full-size washer and dryer. The modern design with oversized bedrooms and large windows create a fresh feel for the most enjoyable living atmosphere. Stay comfortable with

    1349 S B St Unit 3, Elwood, IN 46036
  • /10

    $1,250 Per Month

    • 2 Beds
    • 1 Bath
    • 850 Sq Ft
    • Condo for Rent

    1349 S B St Unit 1, Elwood, IN 46036

    Experience modern living in this spacious and stylish apartment featuring espresso soft close cabinets, black hardware finishes, and granite countertops. Enjoy the convenience of stainless steel appliances and a stackable full-size washer and dryer. The modern design with oversized bedrooms and large windows create a fresh feel for the most enjoyable living atmosphere. Stay comfortable with

    1349 S B St Unit 1, 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
  • /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
  • /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

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 $1,025 per month, though prices vary by neighborhood, size, and property type. As of September 2026, townhouses tend to be the most affordable option while condos and 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 $41,000 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 $1,025 per month in Elwood, IN, renters typically need to show $3,075 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 13.6, 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 Indian Heights, each with its own character and price range.

Rental Home Trends

Number of Homes for Rent
12
Median Rent
$1,025
Median Single Family Home Rent
$1,048
Median Townhouse Rent
$938
Median Condo Rent
$1,023
How to Rent a Home