Cost Of Living in Ely, NV

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7%

Overall NAT. AVG.

3%

Goods & Services NAT. AVG.

15%

Housing NAT. AVG.

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.

The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index	Ely	Nevada	National
Cost of living	93	100	100
Goods & Services	97	92	100
Groceries	98	103	100
Health care	85	92	100
Housing	85	104	100
Transportation	104	117	100
Utilities	94	99	100

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Cost Of Living Quick Facts

The cost of living in Ely is 7% lower than the Nevada average
The cost of living in Ely is 7% lower than the national average
Ely housing is 15% lower than the national average
Nevada general sales tax is 34% higher than the national average
Nevada state income tax is 100% lower than the national average

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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$53,529	$4,461	$1,249	$1,606
Renters	$62,146	$5,179	$1,450	$1,865

The affordability of the housing market in Ely, NV as well as the overall cost of living can be predicted 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 be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Ely homeowners, the median income is $53,529. This indicates that a monthly maximum of $1,249 should be spent by homeowners on all housing related costs. Renters have a median income of $62,146. This indicates that renters would have a maximum of $1,450 for their rent related monthly costs.

Nevada Sales Tax

State	General Sales Tax	With Max Surtax
Nevada	6.85%	8.25%

Nevada Income Tax

State	Income Tax (Low)	Income Tax (High)
Nevada	0%	0%

Goods & Services

Item	Ely	National avg.	Difference
Haircut	$22.23	$24.26	8.4%
Beauty Salon	$32.57	$45.56	28.5%
Toothpaste	$3.61	$3.70	2.4%
Shampoo	$1.06	$1.28	17.0%
Movie	$11.81	$12.13	2.7%
Bowling	$14.33	$18.00	20.4%

Groceries

Item	Ely	National avg.	Difference
Ground Beef	$5.61	$5.84	4.0%
Fried Chicken	$1.72	$1.57	9.2%
Milk	$4.53	$4.67	3.0%
Potatoes	$4.62	$4.93	6.4%
Pizza	$12.39	$12.09	2.5%
Beer	$10.93	$10.41	5.0%

Health Care

Item	Ely	National avg.	Difference
Optometrist	$97.25	$125.68	22.6%
Doctor	$100.33	$135.78	26.1%
Dentist	$91.12	$113.29	19.6%
Ibuprofen	$10.61	$10.65	0.4%
Lipitor	$513.30	$468.60	9.5%

Housing

Item	Ely	National avg.	Difference
Home Price	$157,400.00	$184,700.00	14.8%
Avg. Mortgage Payment	$2,446.69	$2,346.69	4.3%
Apartment Rent	$788.00	$949.00	17.0%

Transportation

Item	Ely	National avg.	Difference
Gasoline	$3.63	$3.46	5.0%
Tire Balancing	$59.97	$59.92	0.1%

Utilities

Item	Ely	National avg.	Difference
All Electricity	$173.84	$193.99	10.4%
Phone	$191.46	$192.25	0.4%

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	Population	Cost of Living Index	National Avg.
Ruth, NV	235	78	21.6%
McGill, NV	847	89	10.6%
Ely, NV	3,993	93	6.7%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Berne, IN	3,994	89	11.4%
Sunset Beach, NC	3,994	111	11.2%
Elk Ridge, UT	3,994	129	28.8%
Lincoln Village, CA	3,991	126	25.8%
Bloomfield Hills, MI	3,995	198	98.3%
Ely, NV	3,993	93	6.7%