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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 $289,363, lower than the Texas average of $322,096.
The average cost of rent is $1,020/mo in Ely, primarily driven by the current value of real estate in the Ely area. In Ely, 11.69% of households rent, and 55.65% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Ely is $6,575 per month. Households that rent pay about 15.51% of their income on rent here. Ely’s most expensive areas are in the central regions, while the cheapest areas are in the eastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Ector, TX: less expensive homes
- Savoy, TX: less expensive homes
- Orangeville, TX: higher priced homes
- Randolph, TX: equally priced homes
- Whitewright, TX: equally priced homes
- Kentuckytown, TX: less expensive homes
- Bonham, TX: less expensive homes
- Pilot Grove, TX: higher priced homes
- Bells, TX: less expensive homes
- Trenton, TX: higher priced homes
Cities with Similar Populations
- Silver City, ID: higher priced homes
- Dempsey, AL: less expensive homes
- Denbigh, ND: less expensive homes
- Denning, NY: higher priced homes
- Derby, MS: less expensive homes
- Derry, NM: less expensive homes
- Dixon, WY: less expensive homes
- Dobbins, KY: less expensive homes
- Dodson, TX: less expensive homes
- Fossilville, PA: less expensive homes
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