Cost of Living in Ely, MN
Population 3,239 · Minnesota · Data vintage 2023
(100 = US avg)
Household incomes in Ely run well below national norms — a median of $46,042 versus the $74,580 US figure. Housing costs partially offset that gap (typical home values around $151,000). An unemployment rate of 2.7% points to a labor market well on the tight side of the national distribution.
Ely lies roughly 215 miles northeast of the nearest major metro, St. Paul — close enough that regional housing and labor patterns are shaped largely by the larger market. Median home values run roughly 46% lower than St. Paul's $280,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Ely
The median home value in Ely is $150,800 — 51% below the national median of $305,000. Median rent runs $627/month, 52% lower than the national median of $1,314/month. The median household income of $46,042/year is 38% lower than the US median of $74,580. The local unemployment rate is 2.7%, below the national average of 4.8%. Minnesota's top state income tax rate is 9.8% and the combined sales tax is 7.4%. Overall, Ely has a cost of living index of 49 versus the US average of 100, meaning it is 51% less expensive.
Ely has limited residential data
Detailed housing and income data is limited for this location. Here are the nearest cities with full cost of living data:
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
🏫 Schools
NCES CCD 2019 — public school district data
Frequently Asked Questions
What is the cost of living in Ely, MN?
Ely has a cost index of 49 (100 = national average). It is 51% below the national average.
What is average rent in Ely, MN?
The median gross rent in Ely is $627 per month based on 2023 Census data.
What is the average home price in Ely?
The median home value in Ely is $150,800 according to Zillow and Census data.
What is the median income in Ely?
The median household income in Ely is $46,042 per year (2023 ACS 5-year estimates).
What is the sales tax in Ely, MN?
The combined state and local sales tax rate in Ely is 7.4%. The Minnesota state income tax top rate is 9.8%.
Is Ely, MN affordable?
Yes, Ely is generally considered affordable, with a cost of living index of 49 — about 51% below the US national average of 100.
Ely at a Glance
- Population
- 3,239
- Median Income
- $46,042
- Home Value
- $150,800
- Median Rent
- $627/mo
- Unemployment
- 2.7%
- Sales Tax
- 7.4%
Nearby Cities
Explore county-level cost of living data
Minnesota Rankings
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