Ely, IA vs McGregor, IA

The cost of living difference between Ely, IA and McGregor, IA is dramatic. McGregor is 36.5% cheaper than Ely, a gap that translates to thousands of dollars per year in household expenses. Ely has a cost index of 85 while McGregor sits at 62, making this one of the more striking comparisons on our site. Relocating between these cities would require a serious reassessment of budget and lifestyle expectations.

On the housing front, median rent in Ely is $1,014/month compared to $618/month in McGregor — a 64% difference. Home values follow the same pattern: McGregor is more affordable at $141,900 median vs $275,800.

Median household income in Ely is $102,262 compared to $58,750 in McGregor (+74.1%). While Ely is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Ely spend roughly 11.9% of their income on rent, less than the 12.6% in McGregor.