Elwood is a city in Madison and Tipton counties in the U.S. state of Indiana. The Madison County portion, which includes most of the city, is part of the Anderson, Indiana Metropolitan Statistical Area, while the small portion in Tipton County is part of the Kokomo, Indiana Metropolitan Statistical Area. The population was 8,614 at the 2010 census.
Elwood was laid out in 1853 under the name Duck Creek. It was incorporated as a city in 1891.
A post office was established under the name Duck Creek in 1855, was renamed to Elwood in 1869, and has been operating since.
Around the 1880s, Elwood became a sundown town, prohibiting African Americans from residing within the town. In 1897, a number of African American families were driven out of Elwood.
Elwood was the site of a great political event on August 17, 1940. The Republican National Committee held a formal notification ceremony to recognize Wendell Willkie as its nominee for President of the United States to run against Franklin Roosevelt. Held at Callaway Park on the outskirts of town, the ceremony drew 150,000 people for what would become the largest political rally in American history at the time. People came in 60,000 automobiles, 63 special trains, 300 Pullmans, and 1,200 buses. The Indiana University band led a parade in which 249 other bands also marched in the procession.