Ely, MN vs Mound, MN

The cost of living difference between Ely, MN and Mound, MN is dramatic. Ely is 37.5% cheaper than Mound, a gap that translates to thousands of dollars per year in household expenses. Ely has a cost index of 62 while Mound sits at 99, 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 $1,119/month in Mound — a 44% difference. Home values follow the same pattern: Ely is more affordable at $150,800 median vs $348,600.

Median household income in Ely is $46,042 compared to $91,370 in Mound (-49.6%). While Mound 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 14.7% in Mound.