Rent in Ely, MN
A 2-bedroom in Ely, MN (ZIP 55731) typically rents for about $792 a month, with a range of $792–$1,207. Owner-occupied homes in St. Louis County pay about 1.03% of their value a year in property tax, and the 30-year fixed mortgage rate averaged 7.24% in the week of Oct 29, 2026.
Rent by bedrooms
| Size | Typical | Range across ZIPs | ZIPs |
|---|---|---|---|
| Studio | $841 | $841 | 1 |
| 1 bed | $442 | $442–$961 | 1 |
| 2 beds | $792 | $792–$1,207 | 1 |
| 3 beds | $1,086 | $1,086–$1,671 | 1 |
| 4 beds | $2,017 | $2,017 | 1 |
Typical = median of each ZIP's best guess. Gross rent (rent plus tenant-paid utilities). Sources: Census ACS 5-year median gross rent (Dec 31, 2024) and HUD county Fair Market Rents (Oct 1, 2026).
Ely ZIP codes
2 bedsFrequently asked questions
- What is the average rent for a 2-bedroom in Ely, MN?
- About $792 a month: the median of the typical rents in 1 ZIP code, which range from $792–$1,207. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 1-bedroom in Ely, MN?
- About $442 a month: the median of the typical rents in 1 ZIP code, which range from $442–$961. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 3-bedroom in Ely, MN?
- About $1,086 a month: the median of the typical rents in 1 ZIP code, which range from $1,086–$1,671. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a studio in Ely, MN?
- About $841 a month: the median of the typical rents in 1 ZIP code, which range from $841. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 4-bedroom in Ely, MN?
- About $2,017 a month: the median of the typical rents in 1 ZIP code, which range from $2,017. Figures are gross rent (rent plus tenant-paid utilities).
- What is the property tax rate in Ely, MN?
- Owner-occupied homes in St. Louis County pay a typical 1.03% of their value a year (Census ACS, median taxes paid ÷ median home value, Dec 31, 2024). Investors often pay more after a purchase: the home is reassessed at the sale price and there is no homestead exemption.
- What is the current 30-year mortgage rate?
- The 30-year fixed rate averaged 7.24% in the week of Oct 29, 2026 (Freddie Mac PMMS via FRED). It's a national average for owner-occupied loans; investment property loans usually cost more.
- Where do these Ely rent figures come from?
- Census ACS 5-year median gross rent (Dec 31, 2024) and HUD county Fair Market Rents (Oct 1, 2026).