Ely, MN vs Fairfax, MN

There is a significant gap in the cost of living between these two cities. Fairfax is 20.7% cheaper than Ely. With a cost index of 51 vs 62, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from Fairfax to Ely should plan for substantially higher expenses across most categories.

On the housing front, median rent in Ely is $627/month compared to $410/month in Fairfax — a 53% difference. Home values follow the same pattern: Fairfax is more affordable at $99,800 median vs $150,800.

Median household income in Ely is $46,042 compared to $53,750 in Fairfax (-14.3%). Fairfax offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Ely spend roughly 16.3% of their income on rent, more than the 9.2% in Fairfax.