Underwood is an unincorporated town in Monroe Township, Clark County, Indiana, United States. It took its name from the local Underwood family.
As a newly established Census-designated place, it does not have data in the 2020 census. The 2022 American Community Survey, estimated a population of around 1,000 residents.
The United States Census Bureau defined Underwood as a census designated place in the 2022 American Community Survey.