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Affordable
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These days, finding an affordable place to live in the Ely area can be challenging. Home prices in Ely are now at a median cost of $314,860, higher than the Iowa average of $226,062.
The average cost of rent is $815/mo in Ely, primarily driven by the current value of real estate in the Ely area. In Ely, 15.52% of households rent, and 27.68% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Ely is $9,719 per month. Households that rent pay about 8.38% of their income on rent here. Ely’s most expensive areas are in the northeastern regions, while the cheapest areas are in the southwestern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Shueyville, IA: higher priced homes
- Bertram, IA: higher priced homes
- Twin View Heights, IA: higher priced homes
- Swisher, IA: higher priced homes
- Solon, IA: higher priced homes
- Cedar Rapids, IA: less expensive homes
- Mount Vernon, IA: less expensive homes
- Fairfax, IA: less expensive homes
- Sutliff, IA: higher priced homes
- North Liberty, IA: equally priced homes
Cities with Similar Populations
- Henrietta, TX: less expensive homes
- Sparta, MO: less expensive homes
- Squaw Valley, CA: equally priced homes
- Sharpsburg, MD: equally priced homes
- Sardis, MS: less expensive homes
- Pisgah, AL: less expensive homes
- Summerset, SD: equally priced homes
- Thorp, WI: less expensive homes
- Twain Harte, CA: higher priced homes
- Victor, MT: higher priced homes
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