Ely, MN vs Hector, MN

There is a significant gap in the cost of living between these two cities. Ely is 20% cheaper than Hector. With a cost index of 62 vs 77, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from Ely to Hector should plan for substantially higher expenses across most categories.

On the housing front, median rent in Ely is $627/month compared to $1,108/month in Hector — a 43% difference. Interestingly, home values tell a different story: while Ely has cheaper rent, Hector actually has lower median home values ($124,100 vs $150,800).

Median household income in Ely is $46,042 compared to $59,762 in Hector (-23%). While Hector 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 16.3% of their income on rent, less than the 22.2% in Hector.