Cost of Living in Elwood, NY
Population 11,140 · New York · Data vintage 2023
(100 = US avg)
Home prices in Elwood run well above the national baseline, with a median of $664,000, though local incomes keep the cost-to-earnings ratio tighter than in coastal metros with comparable sticker prices. Median household earnings of $170,987 place the city among the better-paid New York metros. The labor market has been unusually tight, with unemployment around 1.8% — below most comparable cities in the state.
Located 20 miles southeast of Stamford, Elwood falls within that metro's commuting orbit. Median home values run roughly 8% higher than Stamford's $614,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Elwood
The median home value in Elwood is $664,200 — 118% above the national median of $305,000. Median rent runs $1,455/month, 11% higher than the national median of $1,314/month. The median household income of $170,987/year is 129% higher than the US median of $74,580. The local unemployment rate is 1.8%, below the national average of 4.8%. New York's top state income tax rate is 10.9% and the combined sales tax is 8.5%. The climate averages highs of 61.1°F and lows of 45.9°F. Overall, Elwood has a cost of living index of 175 versus the US average of 100, meaning it is 75% more expensive.
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
🌤 Climate
NOAA 1991–2020 Climate Normals
| Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| High °F | 39 | 41 | 48 | 58 | 68 | 77 | 83 | 82 | 75 | 64 | 53 | 44 |
| Low °F | 25 | 26 | 33 | 42 | 51 | 61 | 68 | 67 | 60 | 48 | 38 | 31 |
| Precip" | 2.69 | 2.03 | 3.46 | 3.61 | 3.18 | 3.45 | 3.05 | 3.25 | 3.66 | 3.37 | 2.93 | 3.60 |
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
Frequently Asked Questions
What is the cost of living in Elwood, NY?
Elwood has a cost index of 175 (100 = national average). It is 75% above the national average.
What is average rent in Elwood, NY?
The median gross rent in Elwood is $1,455 per month based on 2023 Census data.
What is the average home price in Elwood?
The median home value in Elwood is $664,200 according to 2023 Census ACS data.
What is the median income in Elwood?
The median household income in Elwood is $170,987 per year (2023 ACS 5-year estimates).
What is the sales tax in Elwood, NY?
The combined state and local sales tax rate in Elwood is 8.5%. The New York state income tax top rate is 10.9%.
Is Elwood, NY affordable?
Elwood is above average in cost of living, with an index of 175 — about 75% higher than the national average.
What is the weather like in Elwood?
Elwood has average high temperatures of 61.1°F and average lows of 45.9°F. Annual precipitation is 38.3". Data from NOAA 1991–2020 Climate Normals.
Elwood at a Glance
- Population
- 11,140
- Median Income
- $170,987
- Home Value
- $664,200
- Median Rent
- $1,455/mo
- Unemployment
- 1.8%
- Avg High Temp
- 61.1°F
- Sales Tax
- 8.5%
Nearby Cities
Explore county-level cost of living data
New York Rankings
Similar Cost Cities
Cities in other states with comparable housing costs