HomeMinnesotaSt. Louis CountyEly
Ely, Minnesota: commercial real estate data.
Ely 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 since FY2020.
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$324,600
- Largest approval$4,306,000
- Jobs supported111
- Jobs per approval6.2
- Loans with a final outcome5
- Paid in full5
- Charged off0
- Median term183 months
- Share on real estate terms of 20 years or more44.4 percent
- Share to franchises5.6 percent
- Distinct lenders7
- Distinct industries by NAICS13
Counted by borrower city: approvals to borrowers whose address is in Ely, in any county, FY2020 to FY2026. Only 5 loans have reached a final outcome, fewer than the 30 a charge-off rate needs, so no rate is published.
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
Counted by borrower city: approvals to borrowers whose address is in Ely, in any county, FY2010 to FY2026. Only 3 loans have reached a final outcome, fewer than the 30 a charge-off rate needs, so no rate is published.
US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Ely
Flood risk in Ely
- NFIP communityCity of Ely
- NFIP community number270567
- Participating in the NFIPYes
- Community Rating System classNone
- Currently effective map date03/25/25(M)
The City of Ely participates in the National Flood Insurance Program as community 270567 and carries no Community Rating System class, so no CRS premium discount applies to it.
Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26.
St. Louis County, not Ely
St. Louis County context, not Ely figures
- Establishments in St. Louis County5,360
- Covered employment, St. Louis County95,504
- Average annual pay, St. Louis County$60,452
- Housing units permitted, St. Louis County637
Every figure in this section is published for St. Louis County as a whole and is not a measurement of Ely.
All St. Louis County figures →
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.
Coverage
What this page does not hold.
Parcel detail, zoning and the flood zone at an address are not on this page; they resolve at the address in the platform. How this page was built →
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 totaling $10.5 m since FY2020, across 7 lenders, median approval $324,600, plus 9 504 approvals worth $5.9 m since FY2010. 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 loans have reached a final outcome, fewer than the 30 a charge-off rate needs, so no rate is published. The counts are shown instead.
Is Ely in the National Flood Insurance Program?
Yes. Ely appears in the FEMA Community Status Book as Ely, city of, community 270567, with no Community Rating System class, so no CRS discount applies. Whether a specific parcel sits in a mapped special flood hazard area is an address level question the platform answers.
Are the county figures on this page Ely figures?
No, and they are labeled 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?
No. Nothing on this page presents parcel level zoning.
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