Market Overview
Home Prices in Ely, NV
The median home value in Ely, NV is $212,007 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's down 0.2% compared to a year ago and down 1.7% from two years prior.
Compared to the U.S. national median of $410,000, homes in Ely are priced48% below average.
Over the past five years, Ely home values have risen by approximately8.0%, reflecting steady appreciation in this market.
Price History
Ely Home Price Trend
2020
$168,821
$169K
—
2021
$196,388
$196K
+16.3%
2022
$214,073
$214K
+9.0%
2023
$214,705
$215K
+0.3%
2024
$216,085
$216K
+0.6%
2025
$212,489
$212K
-1.7%
2026
$212,007
$212K
-0.2%
City Comparison
Ely vs. National Median
🏠 Ely
$212,007
National Median
$410,000
At $212,007, homes in Ely cost 48% below the national median of $410,000. This makes Ely a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Ely?
20% Down Payment
$42,401
on $212,007
Monthly P&I
$1,106/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,405/mo
incl. taxes & insurance
Income Needed
$56,200
gross annual (30% rule)
10% Down Option
$21,201
+ PMI applies
Loan Amount (20% dn)
$169,606
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Ely, NV?
The median home value in Ely is $212,007 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's down 0.2% year-over-year.
How much have home prices changed in Ely?
Over the past year, home values in Ely have decreased by 0.2%. Over five years, prices have risen approximately 8.0%.
How much do I need to earn to buy a home in Ely?
To comfortably afford the median home price of $212,007 with a 20% down payment ($42,401) at today's rates (6.8%), you'd need a gross annual income of approximately $56,200. This assumes keeping total housing costs at or below 30% of gross income.
How does Ely compare to the national average home price?
The national median home value is approximately $410,000. At $212,007, homes in Ely are 48% below the national average.