House Prices

House Prices & Home Values Elwood, IL 2026


Average Data

average house price$230,820
average size per house1880 ft²
average price per ft²123 $ / ft²

04/17/2026 - The value range (VR) for house prices in Elwood, IL is $115/ sqft to $115/ sqft. An average home with 1880 sqft costs approximately $216,200 to $216,200. Elwood, IL includes 1 ZIP codes and it is located in Will county. The lowest prices are found in ZIP 60421, while the highest are in ZIP 60421. The average price per sqare feet is $123. Our analysis is based on 5 property listings.

Avergage prices by ZIP codes Elwood

60421122 $ / ft²




Historical development of home values in Elwood

Year Estimated value (USD) Change vs. 2025
2010 $107,197 -53.6%
2011 $103,052 -55.4%
2012 $102,774 -55.5%
2013 $106,616 -53.8%
2014 $111,917 -51.5%
2015 $117,661 -49.0%
2016 $123,801 -46.4%
2017 $130,483 -43.5%
2018 $137,697 -40.3%
2019 $144,082 -37.6%
2020 $151,530 -34.4%
2021 $172,350 -25.3%
2022 $200,921 -13.0%
2023 $211,880 -8.2%
2024 $224,138 -2.9%
2025 $230,820 0.0%

Graph: estimated home values in Elwood over time (USD)



Example: 100% financing house in Elwood

Loan amount: $230,820

Interest rate: 6.00%

Fixed monthly payment: $1,383.88

Breakdown in the 1st month:
Interest portion: $1,154.10  –  Principal portion: $229.78

Yearly breakdown (100% financing)

Year Interest per year ($) Principal per year ($) Remaining balance at year-end ($)
1 $13,772.09 $2,834.50 $227,985.50
2 $13,597.27 $3,009.32 $224,976.18
3 $13,411.66 $3,194.93 $221,781.25
4 $13,214.60 $3,391.99 $218,389.26
5 $13,005.39 $3,601.20 $214,788.07
6 $12,783.28 $3,823.31 $210,964.76
7 $12,547.47 $4,059.12 $206,905.63
8 $12,297.11 $4,309.48 $202,596.15
9 $12,031.31 $4,575.28 $198,020.87
10 $11,749.11 $4,857.48 $193,163.39
11 $11,449.52 $5,157.07 $188,006.32
12 $11,131.44 $5,475.15 $182,531.17
13 $10,793.74 $5,812.85 $176,718.32
14 $10,435.22 $6,171.37 $170,546.95
15 $10,054.58 $6,552.01 $163,994.94
16 $9,650.47 $6,956.12 $157,038.82
17 $9,221.43 $7,385.16 $149,653.66
18 $8,765.93 $7,840.66 $141,813.01
19 $8,282.34 $8,324.25 $133,488.75
20 $7,768.92 $8,837.67 $124,651.08
21 $7,223.83 $9,382.76 $115,268.31
22 $6,645.12 $9,961.47 $105,306.84
23 $6,030.72 $10,575.87 $94,730.97
24 $5,378.42 $11,228.17 $83,502.80
25 $4,685.89 $11,920.70 $71,582.10
26 $3,950.65 $12,655.94 $58,926.16
27 $3,170.06 $13,436.53 $45,489.62
28 $2,341.32 $14,265.27 $31,224.36
29 $1,461.47 $15,145.12 $16,079.24
30 $527.35 $16,079.24 $0.00

Note: The calculation is based on a standard annuity mortgage with a fixed monthly payment over the entire term. Extra payments, interest rate changes, and additional purchase costs (e.g. taxes, notary fees) are not included.


How to sell in Elwood, IL


1500 sqft3900 sqft
Ø selling price$223,246$474,904
Ø fast selling$202,951$427,413
Ø high price sale$243,541$522,394

In 2026, houses in Elwood, IL will be offered at an average price of $123 per square foot. A 1,500 sqft home priced at $223,246 is 24.29% more expensive per square foot than a 3,900 sqft home priced at $474,904. Home prices in Elwood, IL vary significantly depending on the neighborhood and location. For a quick sale, a 2,700 sqft home should be listed at around $328,779. Sellers who can wait longer may achieve a higher price of up to $401,842.

FAQ – Home Values in Elwood

What is the median home value in Elwood in 2026?

In 2026, the typical home value in Elwood is about $230,820 for an average home size of 1880 square feet. This corresponds to an average price of roughly $123 per square foot.

What is the average cost per square foot in Elwood?

In 2026, homes in Elwood sell for an average of around $123 per square foot, with a typical range between $115 and $115 per square foot, depending on the property’s location, condition, and lot size.

What is the average home size in ?

The average home size in Elwood is about 1880 square feet, with an estimated 2026 value around $230,820.



Locations close to Elwood, IL

Flossmoor, IL111 $ / ft²
Frankfort, IL164 $ / ft²
Gardner, IL99 $ / ft²
Dwight, IL90 $ / ft²
Dolton, IL68 $ / ft²
Crete, IL116 $ / ft²
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