Ely, MN Housing

The housing market in Ely, MN has been doing quite well, as evidenced by its median value of $201,500. This is significantly lower than the US median housing value which stands at $338,100. However, the one year house appreciation rate in Ely has outpaced the national rate by a considerable amount; it stands at 13.08% compared to the 8.27% rate seen nationwide. This goes to show that there are currently many opportunities to take advantage of in the Ely housing market.

The median home cost in Ely is $201,500. Home appreciation the last 10 years has been 60.0%. Home Appreciation in Ely is up 13.2%.

Average Age of Homes

- The median age of Ely real estate is 67 years old

The Rental Market in Ely

- Renters make up 27.2% of the Ely population
- 4.2% of houses and apartments in Ely, are available to rent

DID YOU KNOW

Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.

Median Monthly Rent by Number of Bedrooms

Housing by Year Built

Housing	Ely, Minnesota	United States
	2,007.0	139,647,020.0
	76	42
	$201,500	$338,100
	13.2%	16.6%
	50.0%	57.0%
	60.0%	101.1%
	$8.25	$10.98
	$1,040	$2,690
	50.3%	57.4%
	18.5%	11.2%
	31.2%	31.4%
Vacant Housing
	4.2%	1.9%
	1.5%	0.4%
	1.5%	0.7%
	1.6%	0.4%
	8.0%	3.6%
	1.7%	4.1%
Value of Owner-Occupied Housing
	2.9%	2.6%
	2.0%	2.4%
	3.2%	2.8%
	12.3%	3.9%
	14.9%	4.5%
	26.1%	11.3%
	16.4%	13.0%
	11.3%	20.1%
	9.0%	13.6%
	2.1%	8.3%
	0.0%	9.7%
	0.0%	3.9%
	0.0%	2.2%
	0.0%	0.8%
	0.0%	1.1%
Housing Units by Year Structure Built
	0.0%	0.2%
	4.3%	13.6%
	4.3%	13.6%
	11.3%	13.6%
	3.6%	13.2%
	9.5%	14.8%
	11.3%	13.6%
	13.1%	10.0%
	4.8%	4.7%
	47.5%	12.2%