Ely, MN is a beautiful small town that has a lot to offer residents. The cost of living is affordable with rent for a two bedroom apartment costing around $960, which is significantly lower than the US average of $1,430. The grocery cost index in Ely is also quite low at 95 compared to 100 in the US. There are plenty of local businesses to shop from such as SuperOne Foods, Ely Lumber, and Voyager North Outfitters. Residents can also take advantage of the many outdoor activities such as skiing, fishing, and camping that are available due to the surrounding natural beauty. Ely offers something for everyone and with its affordability it's a great place to live.
Ely has an unemployment rate of 4.8%. The US average is 6.0%.
Ely has seen the job market increase by 1.6% over the last year. Future job growth over the next ten years is predicted to be 29.9%, which is lower than the US average of 33.5%.
Tax Rates for Ely
- The Sales Tax Rate for Ely is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Ely is 7.1%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Ely
- The average income of a Ely resident is $22,801 a year. The US average is $28,555 a year.
- The Median household income of a Ely resident is $44,745 a year. The US average is $69,021 a year.