Living in Ely, Minnesota
Cost of living, income, home prices, rent and demographics of Ely · Census data 2020–2024
Ely has 3,240 residents with a median age of 52.1. The median household income is $43,901 (51% lower than the Minnesota median), the median home value is $157,300, the median rent is $627/month.
Ely at a glance
- Population
- 3,240
- Median age
- 52.1State: 38.8
- Median household income
- $43,901State: $89,062
- Median home value
- $157,300State: $329,300
- Median rent
- $627/moState: $1,280
- Homeowners
- 63.4%
- Bachelor's degree or higher
- 31.6%
- Average commute
- 14 min
Is Ely a good place to live?
Pros: Home values 52% lower than the state median; an average commute of 14 minutes; unemployment of 2.5%.
Cons: Median household income 51% lower than the Minnesota median; a poverty rate of 13.9%.
The weather is best in June to September.
Cost of living in Ely
Housing is the biggest part of the cost of living. In Ely the median home value is $157,300, 53% lower than the U.S. median. Renters pay a median of $627 per month, which is 32.7% of household income. Homeowners with a mortgage pay $1,306 a month in housing costs.
Ely median household income
The median household income in Ely is $43,901 and the income per person is $32,996. 13.9% of residents live below the poverty line (Minnesota: 9.3%).
Housing in Ely: homes for sale and rent
- Housing units
- 1,976
- Owner-occupied
- 63.4%
- Renter-occupied
- 36.6%
- Vacant
- 9.9%Includes seasonal homes
- Median year built
- 1942
- Average household size
- 1.66
Ely demographics
- Population
- 3,240
- Median age
- 52.1
- Under 18
- 7.9%
- 65 and older
- 28.1%
- Households
- 1,780
- Foreign-born
- 1.9%
- Veterans
- 8.6%Adults 18+
Hispanic or Latino can be of any race. Population history of Ely ›
Education in Ely
31.6% of adults 25 and older in Ely have a bachelor's degree or higher (Minnesota: 39.4%), and 7.6% have a graduate or professional degree.
Jobs and commute in Ely
- Unemployment rate
- 2.5%State: 4.1%
- Average commute
- 14 minState: 23 min
- Work from home
- 6.3%
- Drive alone
- 56%
- Public transit
- 0.1%
- Walk to work
- 20.4%
- Homes with broadband
- 89%
Ely vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Ely | 3,240 | $43,901 | $157,300 | $627 |
| Winton | 124 | $52,250 | $92,500 | $638 |
| Babbitt | 1,393 | $55,875 | $102,300 | $737 |
| Soudan | 415 | $56,307 | $110,100 | $588 |
| Tower | 367 | $65,893 | $109,600 | $586 |
| Hoyt Lakes | 2,064 | $65,764 | $93,300 | $1,550 |
| Aurora | 1,792 | $42,083 | $97,600 | $509 |
| Biwabik | 966 | $67,917 | $111,200 | $749 |
| Gilbert | 1,697 | $64,625 | $126,000 | $698 |
More for people moving to Ely
Ely ZIP code ›Weather and climate ›Living in Ely: FAQ
What is the median household income in Ely, MN?
The median household income in Ely is $43,901, 51% lower than the Minnesota median of $89,062 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Ely?
The median home value in Ely is $157,300, compared with $329,300 in Minnesota.
How much is rent in Ely?
The median gross rent in Ely is $627 per month, about 32.7% of household income.
Is Ely, MN a good place to live?
Pluses: home values 52% lower than the state median; an average commute of 14 minutes; unemployment of 2.5%. Minuses: median household income 51% lower than the Minnesota median; a poverty rate of 13.9%.
What is the median age in Ely?
The median age in Ely is 52.1 years (Minnesota: 38.8).
How long is the commute in Ely?
The average commute to work in Ely is 14 minutes; 6.3% of workers work from home.
What is the unemployment rate in Ely?
The unemployment rate in Ely is 2.5% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Ely?
31.6% of adults in Ely have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
Last updated: