2918 2nd Avenue east
HibbingMN55746
Cheap Homes for Rent near Ely, MN from $900 (5 Rentals)
Search the lowest-cost Homes available for rent right now in Ely.
3901 Greysolon Rd
DuluthMN55804
Rent According to Income: A Look at Income-Restricted Rentals
Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.
3947 E Calvary Rd
DuluthMN55803
726 Fayal Rd
EvelethMN55734
Renters Insurance 101: What It Is, What It Covers, and Why You Need It
From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.
4329-4331 E Superior St
DuluthMN55804
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Ely, MN Local Guide
Sheridan Street, Ely, MN by ShakataGaNai is licensed under CC BY-SA 3.0
How much does it cost to rent a home in Ely?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Ely 2 Bedroom Homes for Rent | $1,800 | $1,350 | $2,100 |
| Ely 3 Bedroom Homes for Rent | $2,081 | $1,495 | $3,000 |
| Ely 4 Bedroom Homes for Rent | $2,410 | $2,375 | $2,480 |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
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Ely, MN Local Guide
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Cheapest Available Ely Apartments for Rent and Nearby
The cheapest available apartment rental in Ely, MN is a Studio unit found at 115 3rd St S priced from $495. Laurentian Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $600. Here is today’s list of the most affordable Ely apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| 115 3rd St S | Studio/Efficiency | Studio,1BA | $495 |
| Laurentian Apartments | Studio | 1BR,1BA | $600 |
| Park Apartments | 2 Bed/1 Bath | 2BR,1BA | $625 |
Best Value Apartments for Rent in Ely, MN and Nearby
As of July 22, 2026 the best value apartment in the Ely area is the $1.24 price per square foot 2 Bedroom Model at Pine Manor Townhouses in the starting from $1,190. The second greatest value Ely apartment is the 2 Bedroom Model at Ivy Manor Apartments starting at $958 with a $1.05 price per square foot . Here is today’s list of the best values for Ely apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Pine Manor Townhouses | 2 Bedroom | 2BR,1BA | $1.24 |
| Ivy Manor Apartments | 2 Bedroom | 2BR,1BA | $1.05 |
| 5739 Marble Ave | 2 Bedroom | 2BR,1BA | $1.13 |
| Marlin Manor | Marlin Manor, 2 bed, 1 bath. | 2BR,1BA | $1.17 |
| Meadowview Apartments | 2 Bdr - Subsidized | 1BR,1BA | $1.19 |
| Silverwood Apartments | 1 Bedroom | 1BR,1BA | $1.30 |
| Park Apartments | 2 Bed/1 Bath | 2BR,1BA | $1.04 |
| Deering Manor - Section 8: 62+ ,Handicapped, | Deering Manor, 1 bed, 1 bath. | 1BR,1BA | $1.22 |
| Mountain Manor Apartments | 1 Bedroom 1 Bath | 1BR,1BA | $1.40 |
| Laurentian Apartments | Studio | 1BR,1BA | $1.50 |
Don't Settle: How to Negotiate Your Apartment Lease and Save Money
Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.
Read Article
Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University
From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.
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Frequently Asked Questions about Ely
What type of rentals are currently available in Ely?
There are currently 50 Apartments for Rent in Ely, MN with pricing that ranges from $495 to $3,495. There are also 16 Single Family Homes for rent, Condos, and Townhome rentals currently available in Ely ranging from $900 to $3,000.
What is the current price range for Rental Homes in Ely?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Ely ranges from $900 to $3,000 with an average monthly rent of $1,706.
Expert Rental Resources
The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.
Articles, How-To's, and Tips
Rent According to Income: A Look at Income-Restricted Rentals
Written by: Robin Stewart
The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.
Renters Insurance 101: What It Is, What It Covers, and Why You Need It
Written by: Robin Stewart
Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.
Apartment Occupancy Rates: Renter Attraction vs Renter Retention
Written by: Robin Stewart
There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.
How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide
Written by: Robin Stewart
Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.