Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 3,962 people, 1,743 houses or apartments, and a median cost of homes of $338,089, Ely real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Ely, accounting for 76.36% of the city's housing units. Other types of housing that are prevalent in Ely include mobile homes or trailers ( 10.77%), duplexes, homes converted to apartments or other small apartment buildings ( 9.75%).
The most prevalent building size and type in Ely are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 61.56% owning and 38.44% renting.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Ely's housing was primarily built during this period, from the '40s through the '60s. A full 46.59% of the city's housing hails from this era. Other housing ages represented in Ely include homes built between 1970-1999 ( 24.95%) and housing constructed before 1939 ( 15.25%). There's also some housing in Ely built between 2000 and later ( 13.21%).
Vacant housing appears to be an issue in Ely. Fully 15.06% of the housing stock is classified as vacant. Left unchecked, vacant Ely homes and apartments can be a drag on the real estate market, holding Ely real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Ely's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Ely during the period has been just 5.64%, which is lower than 70% of US communities.
Over the last year, Ely appreciation rates have trailed the rest of the nation. In the last twelve months, Ely's appreciation rate has been -1.05%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Ely were at -7.89%, which equates to an annual appreciation rate of -28.02%.
Notably, Ely's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Nevada, our data show that Ely's latest annual appreciation rate is higher than 60% of the other cities and towns in Nevada.
$338,089
for Nevada
for nation
1,743
$1,431 / per month