Ely, MN vs Lake St. Croix Beach, MN

The cost of living difference between Ely, MN and Lake St. Croix Beach, MN is dramatic. Ely is 33.6% cheaper than Lake St. Croix Beach, a gap that translates to thousands of dollars per year in household expenses. Ely has a cost index of 62 while Lake St. Croix Beach sits at 93, 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 $627/month compared to $963/month in Lake St. Croix Beach — a 35% difference. Home values follow the same pattern: Ely is more affordable at $150,800 median vs $334,600.

Median household income in Ely is $46,042 compared to $100,134 in Lake St. Croix Beach (-54%). While Lake St. Croix Beach 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, more than the 11.5% in Lake St. Croix Beach.