Elgin, MN vs Ely, MN

There is a significant gap in the cost of living between these two cities. Ely is 17.6% cheaper than Elgin. With a cost index of 62 vs 73, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from Ely to Elgin should plan for substantially higher expenses across most categories.

On the housing front, median rent in Elgin is $738/month compared to $627/month in Ely — a 18% difference. Home values follow the same pattern: Ely is more affordable at $150,800 median vs $218,200.

Median household income in Elgin is $87,000 compared to $46,042 in Ely (+89%). While Elgin is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Elgin spend roughly 10.2% of their income on rent, less than the 16.3% in Ely.