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.HistoryElwood 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.The annual Glass Festival, held every third weekend of August, is one way in which the city tries to promote the area's history with natural gas and glass. In the years surrounding the turn of the century, Elwood, along with the nearby towns of Anderson and Gas City, was a common destination for Welsh immigrant families.The Elwood Downtown Historic District was listed in the National Register of Historic Places in 2002.GeographyElwood is located at .According to the 2010 census, Elwood has a total area of 3.77sqmi, all land.