Ely, MN
Population 3,239 · Minnesota
About Ely, MN
Ely is a small community in Minnesota with a population of 3,239 residents. The median household income is $46,042 per year, which is below the national average. The median age in Ely is 50.7 years.
Housing in Ely has a median home value of $150,800 and median monthly rent of $627. Of the 2,020 total housing units, the majority are owner-occupied, with 1,108 owner-occupied and 627 renter-occupied units.
The unemployment rate in Ely is 2.7% and the poverty rate is 15.9%. 34.1% of residents hold a bachelor's degree or higher. The average commute time is 14.7 minutes.
Cost of Living in Ely, MN
Compared to national averages, Ely has a median household income of $46,042 (39% below the national median of $75,149). Home values average $150,800, which is 38% below the national median. Monthly rent at $627 is 46% below the US average of $1,163. Within Minnesota, Ely's income is 38% below the state average of $74,221, and home values are 26% below the state median of $204,472.
Why Live in Ely, MN?
Ely offers affordable housing with a median home value of $150,800, below the US average of $244,900, and rent that’s lower than the national average at $627/month, and a strong job market with an unemployment rate of just 2.7%. Additionally, the city features a well-educated community where 34.1% of residents hold a bachelor’s degree or higher, and short commute times averaging just 14.7 minutes.
Potential considerations include median household income ($46,042) that falls below the national average. However, Ely’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Ely has a population of 3,239 with a median age of 50.7 years. Compare Ely with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near Ely
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Rush City | 3,262 | $58,543 | $199,000 | Compare |
| Eagle Lake | 3,268 | $97,161 | $249,600 | Compare |
| Moose Lake | 3,297 | $61,576 | $205,000 | Compare |
| Jackson | 3,298 | $57,328 | $118,900 | Compare |
| Blue Earth | 3,170 | $59,118 | $125,200 | Compare |
| Pine City | 3,339 | $51,654 | $181,800 | Compare |
| Annandale | 3,365 | $50,536 | $195,100 | Compare |
| Montgomery | 3,366 | $74,018 | $218,900 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Minnesota
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Ely
What is the population of Ely, MN?
The population of Ely, MN is 3,239 according to the latest Census data.
What is the median household income in Ely?
The median household income in Ely, MN is $46,042 per year.
What is the median home value in Ely?
The median home value in Ely, MN is $150,800.
What is the average rent in Ely?
The median monthly rent in Ely, MN is $627.
What is the unemployment rate in Ely?
The unemployment rate in Ely, MN is 2.7%.