HomeMinnesotaSt. Louis CountyEly city
Ely city, Minnesota: commercial real estate data.
Ely city is a Census city of 3,240 people across 2.92 square miles of land, in St. Louis County. Median household income is $43,901, 63.4 percent of occupied homes are owned, and the SBA record carries 18 7(a) approvals to borrowers here worth $10.5 m.
76 sourced place values · tier FULL · 8 sections · underlined figures are computed by MMCG Analytics, not published by the agency
Ely
What Ely is
- Census place typecity
- Land area2.92 sq mi
- Water area0.01 sq mi
- Population per square mile of land1,108
- County holding the largest share of its areaSt. Louis County, 100.0 percent
US Census Bureau, cartographic boundary file, places, 2024 vintage. US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Ely
How many people live in Ely
- Population3,240
- Median age52.1
- Population under 18257 plus or minus 81
- Share under 187.9 percent plus or minus 2.5
- Population 65 and over910
- Share 65 and over28.1 percent
- Households1,780
- Family households589
- Share of households that are families33.1 percent
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Ely
Income and work in Ely
- Median household income$43,901
- Per capita income$32,996
- Civilian labor force1,674
- Employed1,632
- Unemployed42 plus or minus 34
- Unemployment rate2.5 percent plus or minus 2.0
- Adults 25 and over2,484
- Adults 25 and over with a high school diploma or higher91.0 percent
- Adults 25 and over with a bachelor degree or higher31.6 percent
- Adults 25 and over with a graduate degree7.6 percent plus or minus 2.9
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Ely
Housing in Ely
- Housing units1,976
- Occupied units1,780
- Vacant units196 plus or minus 100
- Vacancy rate9.9 percent plus or minus 5.0
- Owner occupied1,128
- Renter occupied652 plus or minus 174
- Ownership rate63.4 percent
- Median owner-occupied home value$157,300
- Median gross rent, monthly$627 plus or minus $167
- Annual rent as a share of median income17.1 percent plus or minus 5.5
- Single family units1,354
- Share single family68.5 percent
- Units in buildings of two or more577 plus or minus 201
- Share in buildings of two or more29.2 percent plus or minus 10.0
- Mobile homes45 plus or minus 38
- Median year structure built1942
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Ely
How Ely gets to work
- Workers 16 and over who commute1,504
- Commuting under 15 minutes928
- Share commuting under 15 minutes61.7 percent
- Commuting 30 minutes or more214 plus or minus 82
- Share commuting 30 minutes or more14.2 percent plus or minus 5.0
- Drove alone56.0 percent
- Carpooled13.5 percent plus or minus 4.9
- Public transport0.1 percent plus or minus 0.1
- Walked20.4 percent plus or minus 6.6
- Worked from home6.3 percent plus or minus 3.5
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Ely
SBA loans in Ely (7(a))
- Approvals18
- Gross approval$10,478,700
- Average approval$582,150
- Median approval$327,200
- Ninetieth percentile approval$1,360,000
- Largest approval$4,306,000
- Jobs supported111
- Jobs per approval6.2
- Loans with a final outcome5
- Paid in full5
- Charged off0
- Median term216 months
- Share on real estate terms of 20 years or more44.4 percent
- Share to franchises5.6 percent
- Distinct lenders7
- Distinct industries by NAICS13
A charge-off rate is not published here. only 5 resolved loans, too few to publish a rate, and a rate over that few outcomes would move several points on one loan.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Ely
SBA loans in Ely (504)
- Approvals9
- Gross approval$5,903,000
- Average approval$655,889
- Median approval$461,000
- Largest approval$1,913,000
- Jobs supported59
- Loans with a final outcome3
- Charged off0
- Median term240 months
- Distinct CDCs4
US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
St. Louis County, not Ely
St. Louis County context, not Ely figures
These are St. Louis County figures. There is no place level equivalent published for any of them, so they are shown as the county backdrop and never as Ely measurements.
- Establishments in St. Louis County5,360
- Employment at those establishments, St. Louis County84,223
- Covered employment, St. Louis County95,504
- Average annual pay, St. Louis County$60,452
- Average weekly wage, St. Louis County$1,163
- Housing units permitted, St. Louis County637
- Of those, single family, St. Louis County293
- County product, 2024, St. Louis County$13,873,687,000
- County product change over the prior year, St. Louis County1.6 percent
- Average income of an arriving household, St. Louis County$61,324
Every figure in this section is published for St. Louis County as a whole and is not a measurement of Ely. It is here because a county backdrop is what a credit committee reads a place against, and it is labelled so that it can never be quoted as the place's own.
US Census Bureau, County Business Patterns, 2023. US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages. US Census Bureau, Building Permits Survey, 2024 annual. US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024. US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Coverage
What this page does not hold.
Every item below could be filled with a plausible figure. None of them is. On a page a lender may read, a number that cannot be traced is worse than an absence, so the absences are named.
- This place is not listed as a community in the FEMA Community Status Book, so no NFIP participation or CRS class is shown.
- Parcel level detail, zoning and flood zone at an address are resolved in the platform, not on this page.
SBA figures count approvals to borrowers whose address is in the place. They are not approvals for projects inside the place boundary: the tape records a borrower city and a project county, and those can differ.
Common questions
Ely questions, answered from the record.
How many people live in Ely, Minnesota?
3,240, in 1,780 households. Ely city covers 2.92 square miles of land, which is 1,108 people per square mile. Source: US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
What county is Ely in?
St. Louis County, which holds 100.0 percent of the place by area. Source: US Census Bureau, cartographic boundary file, places, 2024 vintage.
What is the median household income in Ely?
$43,901. The median owner-occupied home is valued at $157,300. Median gross rent is $627 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
How much SBA lending goes to Ely businesses?
18 7(a) approvals totalling $10.5 m, across 7 lenders, median approval $327,200, plus 9 504 approvals worth $5.9 m. These count approvals to borrowers whose address is in Ely, not projects sited inside the place boundary, and they are approvals recorded in the release rather than loans disbursed.
Do SBA loans to Ely borrowers get paid back?
No rate is published for Ely. only 5 resolved loans, too few to publish a rate, and a percentage over that few outcomes would move several points on a single loan. The counts are shown instead.
Are the county figures on this page Ely figures?
No, and they are labelled so. County Business Patterns, QCEW, the Building Permits Survey, BEA product and IRS migration are published for St. Louis County as a whole and there is no place level equivalent. They appear in one clearly marked section as context and are never presented as measurements of Ely.
Is zoning published for Ely?
Not yet. The zoning layer is in build. Nothing on this page presents parcel level zoning.
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