Housing costs in Ely?
A typical home costs
$201,500, which is 40.4% less expensive than the national average of
$338,100 and 34.9% less expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Ely costs
$960 per month, which is 32.9% cheaper than the national average of
$1,430 and 29.2% cheaper than the state average of
$1,240.
Can I afford Ely?
To live comfortably in Ely, Minnesota, a minimum annual income of
$38,520 for a family, and
$29,600 for a single person is recommended.
What does A.I. say about Ely?
Ely, MN is an affordable place to live. The cost of living in Ely is 11% lower than the national average, making it a great option for those looking for an affordable place to call home. Housing costs are around 21% lower than the national average, making it one of the most affordable places to buy a house or rent an apartment. In addition to being inexpensive, Ely has many amenities and attractions that make it a great place to live. Shopping opportunities, dining options, and outdoor recreation spots are all plentiful in Ely and offer something for everyone.