Ely, IA vs Oelwein, IA

The cost of living difference between Ely, IA and Oelwein, IA is dramatic. Oelwein is 35% cheaper than Ely, a gap that translates to thousands of dollars per year in household expenses. Ely has a cost index of 85 while Oelwein sits at 63, 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 $762/month in Oelwein — a 33% difference. Home values follow the same pattern: Oelwein is more affordable at $96,800 median vs $275,800.

Median household income in Ely is $102,262 compared to $49,821 in Oelwein (+105.3%). 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 18.4% in Oelwein.