Ely, IA vs University Park, IA

The cost of living difference between Ely, IA and University Park, IA is dramatic. University Park is 37.8% cheaper than Ely, a gap that translates to thousands of dollars per year in household expenses. Ely has a cost index of 85 while University Park 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 $731/month in University Park — a 39% difference. Home values follow the same pattern: University Park is more affordable at $92,700 median vs $275,800.

Median household income in Ely is $102,262 compared to $65,815 in University Park (+55.4%). 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 13.3% in University Park.