Cost of Living in Ely, IA
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
136.7
100 = national avg
+36.7 vs national average
Living Wage (1 Adult)
$60,149
per year
Living Wage (Family of 4)
$142,171
per year
Cost Index by Category
Housing131.5
Food128.2
Transportation156.3
Healthcare122.5
Utilities123.2
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$816
per month
2 Bedroom
$1,071
per month
The overall cost of living index in Ely is 136.7, which is 36.7% above the national average. Housing costs are above the national average at an index of 131.5. A single adult needs to earn approximately $60,149 per year to cover basic expenses.