Total monthly cost of ownership
Cost to Own a Home in Ely, Nevada
A $202,000 home here costs
$1,517per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,038. The real number is $478 higher every month — 46% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Ely against White Pine County and Nevada
| Measure | Ely | White Pine County |
|---|---|---|
| Median home value | $201,500 | $196,700 |
| Median property tax | $1,012 | $968 |
| Effective tax rate | 0.502% | 0.492% |
| Median gross rent | $900 | $933 |
| Population | 3,941 | 8,856 |
The weather behind that power bill
Ely sits in White Pine County, which averages a high of 89.4°F in its hottest month and a low of 11.7°F in its coldest, with 9.41" of precipitation a year and 33% of it in a single three-month stretch. That climate drives 298 cooling and 7,167 heating degree days, which is what sets the $122 electricity line above.
See the full climate breakdown for White Pine County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in White Pine County
Full White Pine County cost breakdown · Every county in Nevada
Common questions
How much does it cost to own a home in Ely?
A $202,000 home in Ely, Nevada costs approximately $1,517 per month with 20% down at 6.66%. That is $1,038 principal and interest, $85 property tax, $35 homeowners insurance, $190 utilities and $168 set aside for maintenance.
What is the property tax rate in Ely?
Ely has an effective property tax rate of 0.502%, based on a median home value of $201,500 and median real estate taxes of $1,012. That is higher than the White Pine County average of 0.492%.
What is the average home price in Ely?
The median owner-occupied home value in Ely, Nevada is $201,500, against $196,700 across White Pine County.
Is it cheaper to rent or buy in Ely?
Median gross rent in Ely is $900 a month, against $1,517 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Ely — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Nevada.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.