Ely, IA vs Spirit Lake, IA

Spirit Lake is moderately more affordable than Ely, with a 10.8% lower cost of living index. Ely scores 85 compared to 77 for Spirit Lake, where the US average is 100. This difference means residents of Ely can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Ely is $1,014/month compared to $885/month in Spirit Lake — a 15% difference. Home values follow the same pattern: Spirit Lake is more affordable at $218,400 median vs $275,800.

Median household income in Ely is $102,262 compared to $73,627 in Spirit Lake (+38.9%). 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 14.4% in Spirit Lake.