Ely, IA housing market
The typical Ely home is worth about $371,000, up 4.1% in a year, 55% above the Iowa typical home. Homes typically sell in 56 days, close to asking.
Home values, sales, trends and how Ely compares with the towns next door — updated as new data is published.
Ely at a glance
A strong seller's market
Homes are selling faster than new ones are listed: less than two months of supply. Well-priced homes can draw several offers.
Typical home value, 2016–2026
Show as a table
| January | Ely | Iowa |
|---|---|---|
| 2017 | $217,000 | $147,000 |
| 2018 | $228,000 | $152,000 |
| 2019 | $240,000 | $159,000 |
| 2020 | $259,000 | $167,000 |
| 2021 | $272,000 | $179,000 |
| 2022 | $301,000 | $195,000 |
| 2023 | $329,000 | $211,000 |
| 2024 | $340,000 | $218,000 |
| 2025 | $357,000 | $228,000 |
| 2026 | $363,000 | $236,000 |
| August 2026 | $371,000 | $240,000 |
No new homes permitted in 2022
No permits for new homes were issued in Ely in 2022. The last year with any was 2020 (15 new homes).
Homes vs. people, 2010–2020
Between the 2010 and 2020 censuses, Ely gained 552 residents while 222 new homes were permitted: about 2.5 new residents per new home. Building and growth moved roughly in step. Across Iowa: 1.3 new residents per new home.
Residents: U.S. Census Bureau, 2010 and 2020 censuses. New homes: permits issued 2010–2019.
Show as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2022 | 0 | 0 | 0 | — |
| 2021 | 0 | 0 | 0 | — |
| 2020 | 15 | 15 | 0 | $4.5 million |
| 2019 | 16 | 16 | 0 | $4.8 million |
| 2018 | 19 | 15 | 4 | $4.7 million |
| 2017 | 28 | 26 | 2 | $6.5 million |
| 2016 | 29 | 29 | 0 | $5.5 million |
| 2015 | 28 | 28 | 0 | $5.2 million |
| 2014 | 24 | 24 | 0 | $4.7 million |
| 2013 | 28 | 20 | 8 | $4.6 million |
| 2012 | 20 | 8 | 12 | $2.5 million |
| 2011 | 16 | 16 | 0 | $2.7 million |
| 2010 | 14 | 10 | 4 | $2.4 million |
| 2009 | 21 | 9 | 12 | $2.7 million |
| 2008 | 4 | 4 | 0 | $715,000 |
| 2007 | 14 | 14 | 0 | $2.6 million |
| 2006 | 16 | 16 | 0 | $3.1 million |
| 2005 | 23 | 23 | 0 | $4.3 million |
| 2004 | 17 | 17 | 0 | $2.7 million |
| 2003 | 24 | 24 | 0 | $3.3 million |
| 2002 | 36 | 36 | 0 | $5.7 million |
| 2001 | 22 | 22 | 0 | $2.9 million |
| 2000 | 25 | 25 | 0 | $3.7 million |
Ely's permit office didn't report to the Census in 2022, so the 2022 figures are Census estimates.
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey.
3.5 years of income
The typical Ely home costs about 3.5 years of the town's median household income, more than across Iowa (3.2 years).
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $1,110
HUD's Fair Market Rent for a two-bedroom in Ely is $1,110 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Ely pay a median of $936, so moving in tends to cost more than staying put. A two-bedroom takes about 13% of the town's median household income.
Studio $770 · 4 bedrooms $1,860
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (52227; Cedar Rapids, IA HUD Metro FMR Area), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Recent listings in Ely
Home values: Zillow Home Value Index (ZHVI), Zillow Research, August 2026. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.