Retirement Lists

Cost of Living in Ely, Minnesota

Northen MN
Photo by ShakataGaNai via Wikimedia Commons, CC BY-SA 3.0

Ely costs

A northwoods budget needs heat, snow, vehicle use, and long care trips visible

The catalog's 2024 ACS gross-rent anchors are $442 for one bedroom and $747 for two bedrooms. Add heating, utilities, internet, snow removal, roof and pipe work, insurance, vehicle costs, fuel, parking, prescriptions, hospital travel, home support, and the cost of a longer referral trip.

A central home may reduce winter errands, while a lake or wooded address may add driveway work, plowing, power, phone service, and emergency travel. Request the actual lease or property records, recent utility history, snow plan, and insurance terms before deciding whether the housing figure leaves room for the life you want.

Planning a monthly budget

A local monthly estimate of $2,486 gives you the starting point, with transportation taking the largest share.

Housing
$442
Utilities (in rent)
$184
Food
$472/mo
Transportation
$1,077/mo
Healthcare
$495

Utilities are included in housing so they are not added twice. The separate Utilities row is a reference estimate.

How the total can change

A traveler style stay, a couple household, and long term rent answer different planning questions.

Comfortable Living
$3,330

Very Good

Cost of Living for Couple
$4,069

Very Good

Typical 1BR Rent
$442

Excellent

Everyday expenses

Dining, transportation, taxes, and car needs can change how the monthly budget feels.

Dining Out
$234/mo

Very Good

Need for a Car
Required
Property Taxes
Moderate

Fair

Overall Feel
Good
Residents 65+ Below Poverty Level
11.1%
65+ Householder — Renter Occupied
22.2%
65+ Households With High Housing Costs
38.4%
Median Household Income, Householder 65+
$41,607

Could Ely fit your monthly retirement budget?

Compare your monthly budget with a city estimate. Add your expected housing amount when you have a more useful number.

Housing

Enter your expected rent and required housing charges, or leave this blank to use the current renter amount.

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Starting renter estimates

Use these broad monthly estimates as a starting point, then replace them with costs you know.

One person
$2,486 per month
Two people
$4,069 per month

One-person estimate breakdown

Housing
$442
Food
$472
Transportation
$1,077
Healthcare
$495

Taxes, debt, insurance, out-of-pocket care, travel, and one-time moving costs may not be included.

Ely in everyday life

Could Ely work for you?

What may work well

  • The ACS table supplies direct city gross-rent anchors.
  • The hospital, clinic, library, parks, airport, and transit provide identifiable household resources.

What to think about

  • Heating, snow, smoke, vehicle use, distance, insurance, and care travel can change the total substantially.
  • A lower-cost home outside the center may add driving, snow work, power, phone, and recovery time after care.

Price an Ely household

  1. Compare several addresses

    Keep housing, taxes, insurance, heating, utilities, snow, roof, pipes, driveway, internet, repairs, parking, and service distance visible.

  2. Map recurring care

    Price the hospital, clinic, pharmacy, groceries, Arrowhead Transit, fuel, and regional referrals.

  3. Reserve for winter and smoke

    Keep room for heat, snow, vehicle service, air filtration, power, roof work, insurance, and a ride after a storm or smoke event.

Questions retirees ask

Are $442 and $747 the full cost of renting in Ely?

No. They are the catalog's 2024 ACS one-bedroom and two-bedroom gross-rent anchors. Add heating, utilities, insurance, snow, transport, prescriptions, care, repairs, and regional travel.

Why do Ely homes have different budgets?

Distance, heating, insulation, snow, driveway, trees, power, phone, insurance, transport, and care vary by address.

Ely affordability depends on the actual home, heating and snow plan, vehicle use, medical route, transportation, and the services used every week.

Sources

The budget value gives a starting point for everyday spending. Housing, healthcare, safety, and climate can change what feels comfortable for a household.

Housing mix, exchange rates, healthcare needs, car ownership, and travel style can move a real monthly budget materially.

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How this city research is made

Retirement Lists uses documented public sources and methods to research, review, and correct city information. Read our Editorial Policy.