| ZIP Code | 55731 |
|---|---|
| City | Ely |
| State | Minnesota (MN) |
| County | St. Louis County |
| Area Code | 218 |
| Elevation | 1,341 ft |
| Latitude | 47.996882 |
|---|---|
| Longitude | -91.753982 |
| Timezone | Chicago (DST) |
| FIPS | 27137 |
| ZIP Type | Standard |
| Status | Active |
Race & Ethnicity
Age Breakdown
Key Indicators
| Median Age | 59.8 yrs ↑ 6% since 2019 |
|---|---|
| Avg Household Size | 1.78 |
| Below Poverty | 11.3% ▲ 13% above avg |
| College Grads | 56.2% ▲ 45% above avg |
| Unemployment | 2.3% ▼ 54% below avg |
| No HS Diploma | 6 (0.1%) |
| HS Graduate | 852 (20.7%) |
| Some College | 278 (6.8%) |
| Associates | 663 (16.1%) |
| Bachelors | 613 (14.9%) |
| Graduate Degree | 1,699 (41.3%) |
Education
Housing Tenure
Home Value Distribution
Financials
| Median HH Income | $62,900 ▼ 18% below avg ↑ 25% since 2019 |
|---|---|
| Median Home Value | $202,900 ▼ 27% below avg ↑ 14% since 2019 |
| Home/Income Ratio | 3.2x (nat avg ~3.5x) |
| Median Rent | $641/mo ↑ 29% since 2019 |
| Total Units | 4,954 |
| Vacant Units | 2,152 |
| Avg HH Size | 1.78 |
Income Distribution
How People Get to Work
Commute Time
Year Built
Summary
| Total Units | 4,954 |
|---|---|
| Vacant | 2,152 |
| Owner Occupied | 75.5% |
| Renter Occupied | 24.6% |
| Avg HH Size | 1.78 |
ZIP code 55731 is located in Ely, Minnesota, within St. Louis County. With a population of 5,292, this is a lightly populated ZIP code with an older community — the median age is 59.8 years. Economically, 55731 is a solidly middle-class ZIP code: the median household income of $62,900 is below the national average.
Real estate in ZIP code 55731 represents an affordable housing market. The median home value of $202,900 is below the national average. Renters can expect to pay around $641 per month in median rent. Homeownership is strong here — 75.5% of occupied units are owner-occupied, suggesting an established, stable residential community. Median home values have increased by 14% since 2019.
The population of 55731 is primarily White (93.76%). Residents are well-educated — 56.2% hold a bachelor's degree or higher, which is above the national average. Poverty affects some residents at 11.3%. Household income has grown by 25% since 2019.
The unemployment rate in 55731 stands at 2.3%, which is well below the national average. As in most parts of the country, driving alone is the dominant commute mode at 61%.
Overall, ZIP code 55731 in Ely, MN is characterized as solidly middle-class, well-educated, an older community, and predominantly owner-occupied. With 5,292 residents, a median household income of $62,900, and a median home value of $202,900, it offers a clear picture of life in this part of Minnesota.