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In Elwood 35% of the housing is rented out compared to 65% of homes are owned, according to the most recent Census Bureau estimates. none of Elwood's apartments are found in large buildings of 50 units or more, 35% are located in smaller apartment complexes with less than 50 units, and 63% are single-family rentals.

The age and size of multifamily buildings are among the most visible characteristics of the rental market in a city. In this case, the apartment buildings in Elwood are about 0 years old, on average. Of these, none have been built since 2000, representing the newer options on the market and typically offering more amenities. Rental buildings in the city have an average height of 0 stories. About none of the rental communities here are low-rise, garden-style communities, none are mid-rises, and none are high-rise buildings. These are true especially for large-scale multifamily buildings with over 50 apartments.

Studio apartments in Elwood are around 0% of rentals, while 1-bedroom floor plans represent 0% of the total stock. For those in search of larger rentals, 2-bedroom floorplans make up 0% of all rentals. More generous apartments with 3 bedrooms or more are also available in this city for those in search of more space.