Cost of Living in Ely, MN
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
76.1
100 = national avg
-23.9 vs national average
Living Wage (1 Adult)
$33,471
per year
Living Wage (Family of 4)
$79,114
per year
Cost Index by Category
Housing70.9
Food85.2
Transportation70.4
Healthcare88.2
Utilities85.3
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$978
per month
2 Bedroom
$1,232
per month
The overall cost of living index in Ely is 76.1, which is 23.9% below the national average. Housing costs are below the national average at an index of 70.9. A single adult needs to earn approximately $33,471 per year to cover basic expenses.