Ely, MN
Full City Profile · Minnesota · Lake County County
3.3
/5.0
B
Good
3,239
Population
1,109/sq mi density
$46,042
Median Income
$33,032 per capita
$150,800
Home Value
$285,200 Zillow
$627
Median Rent
33.4% income on rent
39°F
Avg Temperature
125
Violent Crime/100K
716 property/100K
B
Overall
3.3 / 5.0
Good overall score based on economy, affordability, safety and education
B+
Economy
3.8 / 5.0
$46,042 median income, 2.7% unemployment
A+
Affordability
4.8 / 5.0
$150,800 home value, $627/mo rent
F
Safety
1.0 / 5.0
125 violent crimes/100K
B+
Education
3.7 / 5.0
34.1% bachelor's degree or higher
Housing Overview
Median Home Value
$150,800
47% below
US avg: $281,900
Median Rent
$627/mo
46% below
US avg: $1,163/mo
Homeownership Rate
63.9%
2% below US avg (65.4%)
Total Housing Units
1,999
Median year built: 1938
Home Value by Source
Census Median
$150,800
Zillow (ZHVI)
$285,200
Census ACS, Zillow ZHVI, Redfin median sale price
Ownership vs. Renting
63.9%
Owner-Occupied
36.1%
Renter-Occupied
US avg: 65.4% owner-occupied
Fair Market Rents (HUD FY2026)
Studio
$809/mo
1 Bedroom
$899/mo
2 Bedroom
$1,125/mo
3 Bedroom
$1,483/mo
4 Bedroom
$1,698/mo
Census median rent:
$627/mo
Affordability & Housing Stock
Rent Burden
33.4%
of renters spending 30%+ of income on housing
8% above US avg (31.0%)
Median Year Built
1938
Average age of housing stock: 88 years
Homeownership Rate
63.9%
Complete Housing Data
Home Values
| Census Median Value | $150,800 |
| Zillow Home Value (ZHVI) | $285,200 |
Rent
| Census Median Rent | $627 |
| FMR Studio | $809 |
| FMR 1-Bedroom | $899 |
| FMR 2-Bedroom | $1,125 |
| FMR 3-Bedroom | $1,483 |
| FMR 4-Bedroom | $1,698 |
Market
Ownership & Stock
| Owner-Occupied | 63.9% |
| Renter-Occupied | 36.1% |
| Homeownership Rate | 63.9% |
| Total Housing Units | 1,999 |
| Median Year Built | 1938 |
| Rent Burden | 33.4% |