This was 15.1 percent lower than the state average of 41.8 percent. In 2020 the total municipality population reached 613.
93 percent of the population had at least a high school diploma or the equivalent.
Degree distribution in Elmwood for 2020*
| Degree | Number of people | Percentage of population |
|---|---|---|
| No degree | 30 | 7 |
| Regular high school diploma | 191 | 44.3 |
| GED or alternative credential | 22 | 5.1 |
| Some college, less than 1 year | 14 | 3.2 |
| Some college, 1 or more years, no degree | 59 | 13.7 |
| Associate's degree | 39 | 9 |
| Bachelor's degree | 54 | 12.5 |
| Master's degree | 18 | 4.2 |
| Professional school degree | 4 | 0.9 |
| Doctorate degree | 0 | 0 |
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