What HUD offices serve Ely, Minnesota?
Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.
Go to the Minnesota Public Housing and Low-Income Apartments Waiting Lists page for openings near Ely.
How many renters live in Ely, Minnesota?
The City of Ely has 3,265 people living in 1,644 households.
There are 731 renters living in 616 renter households in this City. Renters make up 22.39 percent of the population living in Ely.
What is the rental market like in Ely, Minnesota?
There are an estimated 1,999 housing units in the Ely area. Of these, 705 units are rental homes, making up 35 percent of the housing market. For every renter household in Ely, Minnesota, there are 1 rental units.
What is the vacancy rate for rentals in Ely?
The rental vacancy rate in Ely is 8 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.
How many rental units are in Ely for each bedroom size?
Occupied Rental Units by Size in Ely
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 50 | 292 | 135 | 82 | 22 |
Occupied Rental Units by Size in Ely
A large number of apartments in Ely have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How many renter households in Ely are overburdened by housing costs?
Among renter households in this market, 62 percent have housing cost burden. Further, 37 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.
The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.
How Much Is Rent in Ely
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $762 to $1,889. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $762 |
| One BR | $868 |
| Two BR | $1,113 |
| Three BR | $1,485 |
| Four BR | $1,889 |
2024 Fair Market Rents in Ely, Minnesota
How many units are rented at Fair Market Rent (FMR) in Ely?
Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.
These are the approximate number of units renting below the FMR in this market:
| Unit Size | Count of Units Below FMR | Percentage of Total Units Below FMR |
| Studio | 50 | 100 percent |
| One BR | 254 | 87 percent |
| Two BR | 112 | 83 percent |
Rental Units Below FMR in Ely, Minnesota
How many affordable rental units are in Ely?
There are a variety of federal affordable housing programs serving households in Ely, Minnesota including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 29 |
| Public Housing | 120 |
| Section 8 Project-Based Rental Assistance | 72 |
Tracked Units by Federal Program in Ely, Minnesota
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Ely, Minnesota
Ely features 192 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.
Low Rent Apartments in Ely, Minnesota
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Ely.
Housing Choice Vouchers in Ely, Minnesota
On average, Section 8 Housing Choice vouchers pay Ely landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Ely.
The maximum amount a voucher would pay on behalf of a low-income tenant in Ely, Minnesota for a two-bedroom apartment is between $1,002 and $1,224.
Sourced from federal housing data and AffordableHousingOnline.com research.
