Housing · Ely
Ely, MN housing market
The typical Ely home is worth about $285,000, up 6.7% in a year, 19% below the Minnesota typical home.
Home values, sales, trends and how Ely compares with the towns next door — updated as new data is published.
The market right now
Ely at a glance
Typical home value
$285K
▲ 6.7% in a year · Zillow
Ten-year trend
Typical home value, 2016–2026
ElyMinnesota
Show as a table
| January | Ely | Minnesota |
|---|---|---|
| 2017 | $157,000 | $217,000 |
| 2018 | $160,000 | $232,000 |
| 2019 | $168,000 | $246,000 |
| 2020 | $175,000 | $259,000 |
| 2021 | $194,000 | $282,000 |
| 2022 | $227,000 | $313,000 |
| 2023 | $246,000 | $325,000 |
| 2024 | $258,000 | $331,000 |
| 2025 | $265,000 | $341,000 |
| 2026 | $277,000 | $349,000 |
| August 2026 | $285,000 | $351,000 |
Affordability
6.5 years of income
The typical Ely home costs about 6.5 years of the town's median household income, more than across Minnesota (3.9 years).
How Ely ranks on affordability →
Home value ÷ ACS median household income.
The homes
Owners, rent & taxes
Homeownership
63.4%
Minnesota: 72.2%
Median tax bill
$1,331
Minnesota: $3,357
Median rent
$627
Minnesota: $1,280
Typical home built
1942
Minnesota: 1979
U.S. Census Bureau, ACS 2020-2024.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, August 2026. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Listings link to their publishers.