Elwood is located close to the center of Nebraska. Elwood is between the Gosper, Dawson county. Elwood has 0.52 square miles of land area and has no water area. As of 2010-2014, the total Elwood population is 732, which has shrunk 3.81% since 2000. The population growth rate is much lower than the state average rate of 8.44% and is much lower than the national average rate of 11.61%. Elwood median household income is $51,607 in 2010-2014 and has grown by 41.39% since 2000. The income growth rate is higher than the state average rate of 33.50% and is much higher than the national average rate of 27.36%. Elwood median house value is $100,000 in 2010-2014 and has grown by 50.83% since 2000. The house value growth rate is higher than the state average rate of 47.84% and is higher than the national average rate of 46.91%. As a reference, the national Consumer Price Index (CPI) inflation rate for the same period is 26.63%. On average, the public school district that covers Elwood is worse than the state average in quality. The Elwood area code is 308.