Ely, MN (55731) is a small town located in St. Louis County off of Highway 169 and Interstate 35. It has a population of 3,460 and is known for its natural beauty and outdoor recreational activities. The 2 bedroom rent in Ely is much cheaper than the US average at $920 versus $1,430. In addition, the grocery cost index in Ely is also lower at 95 versus 100 in the US. This makes it an attractive location to live for those looking for a more affordable option. \nEly offers plenty of local amenities including shops, restaurants, parks and museums. Popular stores in the area include Sivertson Gallery for art pieces, Hallett's Outdoor Outfitters for outdoor gear and supplies, and Sisu Boutique for women's clothing and accessories. Other local attractions include the International Wolf Center and Dorothy Molter Museum which offer educational tours and exhibits on Minnesota wildlife and life in the north woods during the 1930s respectively.
Ely (zip 55731) has an unemployment rate of 4.8%. The US average is 6.0%.
Ely (zip 55731) 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 (zip 55731)
- The Sales Tax Rate for Ely (zip 55731) is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Ely (zip 55731) 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 (zip 55731)
- The average income of a Ely (zip 55731) resident is $27,480 a year. The US average is $28,555 a year.
- The Median household income of a Ely (zip 55731) resident is $54,577 a year. The US average is $69,021 a year.