Housing in Ely, MN

Home values, rent, ownership rates, and housing market data

Housing Market Snapshot

Source: Zillow — January 2026

Zillow Home Value Index

$264,572

Ely vs Similar Cities

Source: Census ACS / Redfin (2023)

Compared to cities with under 10,000 residents. Ely is highlighted.

Median Home Value

41st%ilemost expensive$150,800show rank

Median Rent

9th%ilemost expensive rent$627show rank

Rent Burden

34th%ilehighest rent burden16.3%show rank

Census Housing Data

Source: U.S. Census Bureau ACS (2023)

Median Home Value

$150,800

Median Rent

$627

Total Housing Units

2,020

Vacancy Rate

14.1%

Owner Occupied

63.9%

Renter Occupied

36.1%

Median Property Tax

$1,236

per year

Monthly Cost (w/ Mortgage)

$896

Housing Types

Single Family

67.3%

Multi-Family

29.6%

Mobile Home

3.1%

The median home value in Ely, MN is $150,800. According to Zillow, the home value index for Ely is $264,572. The median rent is $627 per month (Census ACS). About 63.9% of housing units are owner-occupied. The median year homes were built is 1941. There are 2,020 total housing units.