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Ely, Minnesota

Last updated: 2024 BLS data · Page refreshed:

City Profile — Demographics, Income, Education & Housing
Data: U.S. Census Bureau, American Community Survey 2024 5-Year Estimates
3,240
Population
$43,901
Median Income
$157,300
Home Value
52.1
Median Age

Demographics

Ely has a population of 3,240 with a median age of 52.1. Here is the racial and ethnic breakdown of the population:

White
92.9%
Other
3.5%
Black
2.0%
Hispanic
1.6%
Demographic Value
Total Population3,240
Median Age52.1
White92.9%
Black or African American2.0%
Hispanic or Latino1.6%
Other / Two or More Races3.5%
Ely, Minnesota — racial composition (Census ACS 2024)Donut chart of 4 segments totaling 100.White: 92.9%Other: 3.5%Black: 2.0%Other: 1.6%3,240PopulationWhiteWhite92.9%OtherOther3.5%BlackBlack2.0%OtherOther1.6%

Income & Economy

The median household income in Ely is $43,901, which is 45.5% below the national median of $80,610. The per capita income is $32,996. The poverty rate is 13.9%.

$43,901
Median Household Income
$32,996
Per Capita Income
13.9%
Poverty Rate

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Education

In Ely, 91.0% of residents age 25+ have a high school diploma or higher, and 31.6% hold a bachelor's degree or higher (7.6% with a graduate or professional degree).

HS Diploma+
91.0%
Bachelor's+
31.6%
Graduate+
7.6%
Education Level % of Adults (25+)
High School Diploma or Higher91.0%
Bachelor's Degree or Higher31.6%
Graduate or Professional Degree7.6%

Housing

The median home value in Ely is $157,300, below the national median of $303,400. The median monthly rent is $627. The homeownership rate is 63.4%.

$157,300
Median Home Value
$627/mo
Median Rent
63.4%
Homeownership Rate
Housing Metric Value
Median Home Value$157,300
Median Monthly Rent$627
Homeownership Rate63.4%
Vacancy Rate9.9%

Salaries in Minnesota

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Frequently Asked Questions

What is the population of Ely, Minnesota?
The population of Ely, Minnesota is 3,240 according to U.S. Census Bureau ACS 2024 5-Year Estimates.
What is the median household income in Ely, Minnesota?
The median household income in Ely, Minnesota is $43,901. This is 45.5% below the national median of $80,610.
What is the median home value in Ely, Minnesota?
The median home value in Ely, Minnesota is $157,300. The median monthly rent is $627.
What percentage of people in Ely have a college degree?
In Ely, Minnesota, 31.6% of adults age 25 and older hold a bachelor's degree or higher, and 91.0% have a high school diploma or higher.
Is Ely, Minnesota an affordable place to live?
The home price-to-income ratio in Ely, Minnesota is 3.6x (median home value $157,300 vs. median income $43,901), making it relatively affordable by that measure. A ratio under 4.0 is generally considered affordable.

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