Mortgage payment estimates, closing cost breakdowns, and homebuying data for Ely, Nevada.
Pre-filled with Ely median home price and Nevada tax/insurance rates. Adjust for your property.
Estimated closing costs based on Nevada rates and fees applied to Ely prices.
The median home price in Ely is $225,000, 47% below the Nevada state median of $425,000. With a population of 4,255, Ely is a smaller market where home prices tend to be more accessible than in many parts of Nevada.
Property taxes in Nevada average 0.53% annually. This low property tax rate is a significant advantage for Ely buyers, keeping your monthly costs well below what you'd pay in higher-tax states. Homeowners insurance in Nevada runs approximately $1,700 per year. This is within the normal range nationally.
Average rent in Ely is $920/month. With a price-to-rent ratio above 20, renting could be more economical in the short term — use our Rent vs Buy calculator to model your specific timeline.
Ely offers strong affordability. With median prices under $250K, first-time buyers have realistic paths to homeownership, especially combined with Nevada's Home Is Possible DPA program.