Elwood Beach is a popular bayside beach destination during summer, where the beaches are used recreationally for windsurfing, cycling, cricket and walking.
The suburb has experienced ongoing gentrification, known for its mix of Edwardian, Victorian and Interwar architecture character, its beaches and its leafy streets, many of which are lined by London Plane trees.
Elwood Village is the main shopping strip. Located on Ormond Road, it has many restaurants and cafes.
For such a leafy suburb, Elwood is highly built up and lacking in open space. The most popular and largest reserves are bayside, including Elwood Beach, Elwood Canal, and Point Ormond Reserve.
Elwood houses a number of schools, considering its limited area. There are 2 primary schools, one offers a catholic education. Saint Columba's Primary is located adjacent to the church and has access to a large number of facilities. There is also a large public school, Elwood Primary School. Elwood is also serviced by a local secondary school, Elwood College, previously named Elwood High School.