House Prices

House Prices & Home Values Ely, MN 2026


Average Data

average house price$396,500
average size per house1800 ft²
average price per ft²221 $ / ft²

04/18/2026 - The value range (VR) for house prices in Ely, MN is $241/ sqft to $241/ sqft. An average home with 1800 sqft costs approximately $433,800 to $433,800. Ely, MN includes 1 ZIP codes and it is located in St. Louis county. The lowest prices are found in ZIP 55731, while the highest are in ZIP 55731. The average price per sqare feet is $221. Our analysis is based on 5 property listings.

Avergage prices by ZIP codes Ely

55731254 $ / ft²




Historical development of home values in Ely

Year Estimated value (USD) Change vs. 2025
2010 $184,142 -53.6%
2011 $177,021 -55.4%
2012 $176,544 -55.5%
2013 $183,143 -53.8%
2014 $192,250 -51.5%
2015 $202,117 -49.0%
2016 $212,665 -46.4%
2017 $224,143 -43.5%
2018 $236,535 -40.3%
2019 $247,503 -37.6%
2020 $260,297 -34.4%
2021 $296,060 -25.3%
2022 $345,140 -13.0%
2023 $363,966 -8.2%
2024 $385,022 -2.9%
2025 $396,500 0.0%

Graph: estimated home values in Ely over time (USD)



Example: 100% financing house in Ely

Loan amount: $396,500

Interest rate: 6.00%

Fixed monthly payment: $2,377.22

Breakdown in the 1st month:
Interest portion: $1,982.50  –  Principal portion: $394.72

Yearly breakdown (100% financing)

Year Interest per year ($) Principal per year ($) Remaining balance at year-end ($)
1 $23,657.55 $4,869.07 $391,630.93
2 $23,357.23 $5,169.38 $386,461.55
3 $23,038.40 $5,488.22 $380,973.34
4 $22,699.90 $5,826.72 $375,146.62
5 $22,340.52 $6,186.10 $368,960.52
6 $21,958.97 $6,567.64 $362,392.88
7 $21,553.90 $6,972.72 $355,420.17
8 $21,123.83 $7,402.78 $348,017.38
9 $20,667.25 $7,859.37 $340,158.02
10 $20,182.50 $8,344.12 $331,813.90
11 $19,667.85 $8,858.76 $322,955.14
12 $19,121.46 $9,405.15 $313,549.98
13 $18,541.37 $9,985.24 $303,564.74
14 $17,925.50 $10,601.11 $292,963.63
15 $17,271.65 $11,254.96 $281,708.67
16 $16,577.47 $11,949.14 $269,759.52
17 $15,840.47 $12,686.14 $257,073.38
18 $15,058.02 $13,468.60 $243,604.79
19 $14,227.31 $14,299.31 $229,305.48
20 $13,345.36 $15,181.26 $214,124.22
21 $12,409.01 $16,117.61 $198,006.61
22 $11,414.91 $17,111.70 $180,894.91
23 $10,359.50 $18,167.12 $162,727.79
24 $9,238.99 $19,287.62 $143,440.17
25 $8,049.37 $20,477.24 $122,962.93
26 $6,786.38 $21,740.23 $101,222.69
27 $5,445.49 $23,081.12 $78,141.57
28 $4,021.90 $24,504.72 $53,636.85
29 $2,510.50 $26,016.12 $27,620.73
30 $905.88 $27,620.73 $0.00

Note: The calculation is based on a standard annuity mortgage with a fixed monthly payment over the entire term. Extra payments, interest rate changes, and additional purchase costs (e.g. taxes, notary fees) are not included.


How to sell in Ely, MN


1500 sqft3900 sqft
Ø selling price$401,116$853,282
Ø fast selling$364,651$767,953
Ø high price sale$437,581$938,610

In 2026, houses in Ely, MN will be offered at an average price of $221 per square foot. A 1,500 sqft home priced at $401,116 is 24.15% more expensive per square foot than a 3,900 sqft home priced at $853,282. Home prices in Ely, MN vary significantly depending on the neighborhood and location. For a quick sale, a 2,700 sqft home should be listed at around $590,733. Sellers who can wait longer may achieve a higher price of up to $722,008.

FAQ – Home Values in Ely

What is the median home value in Ely in 2026?

In 2026, the typical home value in Ely is about $396,500 for an average home size of 1800 square feet. This corresponds to an average price of roughly $221 per square foot.

What is the average cost per square foot in Ely?

In 2026, homes in Ely sell for an average of around $221 per square foot, with a typical range between $241 and $241 per square foot, depending on the property’s location, condition, and lot size.

What is the average home size in ?

The average home size in Ely is about 1800 square feet, with an estimated 2026 value around $396,500.



Locations close to Ely, MN

Embarrass, MN82 $ / ft²
Esko, MN118 $ / ft²
Eveleth, MN104 $ / ft²
Cromwell, MN140 $ / ft²
Crane Lake, MN373 $ / ft²
Cotton, MN94 $ / ft²
  imprint  Privacy