Ely, IA vs Montrose, IA

The cost of living difference between Ely, IA and Montrose, IA is dramatic. Montrose is 43.3% cheaper than Ely, a gap that translates to thousands of dollars per year in household expenses. Ely has a cost index of 85 while Montrose sits at 59, 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 $654/month in Montrose — a 55% difference. Home values follow the same pattern: Montrose is more affordable at $92,100 median vs $275,800.

Median household income in Ely is $102,262 compared to $73,333 in Montrose (+39.4%). The higher salaries in Ely partially offset the cost difference, but don't fully close the gap. Looking at affordability, residents of Ely spend roughly 11.9% of their income on rent, more than the 10.7% in Montrose.