Housing costs in Ely?
A typical home costs
$310,200, which is 8.3% less expensive than the national average of
$338,100 and 59.2% more expensive than the average Iowa home, at
$194,900. Renting a two-bedroom unit in Ely costs
$930 per month, which is 35.0% cheaper than the national average of
$1,430 and close to the state average of
$930.
Can I afford Ely?
To live comfortably in Ely, Iowa, a minimum annual income of
$59,400 for a family, and
$28,400 for a single person is recommended.
What does A.I. say about Ely?
Ely, IA has a relatively low cost of living compared to other parts of the country. The median home value is just over $118,000 and the median household income is around $54,000. With a below-average cost of living index, Ely offers a great option for those looking to save money while still enjoying all that the city has to offer. Groceries are quite affordable in this small city and utilities such as electricity and water are very reasonably priced. Additionally, there are no state income taxes which helps to offset the cost of living even further. All in all, Ely provides an excellent quality of life for its residents at an affordable price tag.