Quick facts: Ely, NV

Quick Facts

107
Cost of Living
above US average
3,962
Population
37.86
Crime Rate per 1000
above US average
$77,076
Median Income
below US average
$185,000
Median House Price
above US average
$1725
Average Rent
above US average
10%
Poverty Rate
below US average
4.2%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $77,076.

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Income Needed to Buy

βœ“ Affordable
$58k/year
Based on $185,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($77,076) exceeds requirement
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Income Needed to Rent

βœ“ Affordable
$74k/year
Based on $1725/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($77,076) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Ely, NV

Ely, Nevada, is a small and historic town located in the northeastern part of the state, serving as the county seat of White Pine County. Situated at an elevation of 6,437 feet, Ely is known for its scenic landscapes and outdoor recreational opportunities, including hiking, fishing, and winter sports. The nearby Ruby Mountains offer stunning views and trails for nature enthusiasts. Historically, Ely was a bustling mining town established in the late 19th century, primarily for silver mining. Today, remnants of its rich history can be explored through various historical sites and the White Pine County Museum, which showcases artifacts from the mining era and the town's development. Ely's downtown features charming shops, restaurants, and local art. The city also hosts events like the annual Ely Rodeo and the Great Basin Native Festival, celebrating its unique culture and heritage. Additionally, the city serves as a gateway to the Great Basin National Park, which boasts diverse ecosystems, caves, and ancient bristlecone pines. With its blend of history, outdoor activities, and community spirit, Ely is a hidden gem in the heart of Nevada.

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