Ely cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexElyNevadaNational
Cost of living index87105100
IndexElyNevadaNational
Goods & Services index93110100
Groceries index97111100
Health care index85103100
Housing index7199100
Transportation index100111100
Utilities index8794100
The above illustration supplies generalized information for the Ely, NV cost of living index. Compared to other cities in Nevada and cities across the country, the cost of living index in Ely, NV is 87, which is 17% lower than the Nevada average and 13% lower than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in Ely, NV are 15% lower than the average for Nevada and 7% lower than the rest of the country.

Did you know?

  • The cost of living in Ely is 17% lower than the Nevada average.
  • The cost of living in Ely is 13% lower than the national average.
  • The cost of housing in Ely is 29% lower than the national average.
  • Nevada general sales tax is 35% higher than the national average.
  • Nevada state income tax is 100% lower than the national average.

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Compare Ely, NV Cost of living To Other Cities

Salary Calculator

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Use the salary calculator to compare your current income in Ely, NV to any other city in the country. The calculator will tell you how much income you would need to make in a particular city to live at the same level based on the cost of living in each city. For example, if the cost of living in the city you are looking to move to is higher than that of Ely, NV, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Ely, NV salary calculator, enter the name of the new city, then move the slider to your current salary level. The salary calculator will do the rest and let you know if your salary would need to increase or decrease for the new city. You will also see a complete overview of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$57,841$4,820$1,350$1,735
Renters$37,846$3,154$883$1,135
The affordability of the housing market in Ely, NV as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Ely, NV homeowners, the median income is $57,841. This indicates that a monthly maximum of $1,350 should be spent by homeowners on all housing related costs. Renters have a median income of $37,846. This indicates that renters should have a maximum of $883 used for their rent related monthly costs.

Nevada Sales Tax

StateGeneral Sales TaxWith Max Surtax
Nevada6.85%8.1%

Nevada Income Tax

StateIncome Tax (Low)Income Tax (High)
Nevada0%0%
One thing to keep in mind when considering the cost of living in Ely, NV is the Nevada sales tax and Nevada income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The Nevada sales tax rate is 6.85% and the maximum surtax that can be charged is 8.1%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The Nevada income tax rates range from 0% to 0%.

Goods & Services

ItemElyNational avg.Difference
Haircut $14.00$14.594.1%
Beauty Salon $21.67$34.6837.5%
Toothpaste $2.29$2.477.4%
Shampoo $0.98$1.024.1%
Movie $8.75$9.8711.3%
Bowling $3.75$4.3914.6%

Groceries

ItemElyNational avg.Difference
Ground Beef $3.82$4.4814.7%
Fried Chicken $1.46$1.460.3%
Milk $1.99$2.3615.6%
Potatoes $2.29$3.0625.2%
Pizza $10.00$9.248.2%
Beer $8.82$8.632.2%

Health Care

ItemElyNational avg.Difference
Optometrist $84.00$99.7815.8%
Doctor $88.33$105.0315.9%
Dentist $67.00$88.7024.5%
Ibuprofen $8.22$9.4112.7%
Lipitor $290.95$298.502.5%

Housing

ItemElyNational avg.Difference
Home Price $122,600.00$175,700.0030.2%
Avg. Mortgage Payment $864.61$1,081.0320.0%
Apartment Rent $694.00$920.0024.6%

Transportation

ItemElyNational avg.Difference
Gasoline $2.16$2.093.4%
Tire Balancing $41.75$45.297.8%

Utilities

ItemElyNational avg.Difference
All Electricity$169.56$170.800.7%
Phone $19.84$28.2629.8%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
Ruth, NV50081-19%
McGill, NV1,59082-18%
Ely, NV4,25087-13%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Bristow, OK4,25180-20%
Florence, MS4,24988-12%
Thornwood, NY4,24816969%
Freeburg, IL4,25296-4%
North East, PA4,25385-15%
Ely, NV4,25087-13%
Source: The Ely, NV cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.