Ely, MN · standard
ZIP Code 55731
St. Louis County, Minnesota - Census ACS demographics, housing tenure, and business patterns, benchmarked against every US ZIP.
- 5,820
- 3/sq mi Low-density area
- $62,008
- Median income Below-median income area
- $206,000
- Median home value Near-median home value
- 40.5%
- Bachelor's or higher Above-average bachelor's attainment
National ZIP placement
Ely pairs a below-median household income with below-median home values, in a rural, homeowner-dominated area.
- 33rd pct
- household income, US ZIPs
- 45th pct
- home value, US ZIPs
- 3
- people per sq mi
- 75%
- owner-occupied homes
Source: U.S. Census Bureau ACS 5-Year Estimates (2019–2023). Percentiles rank ZIP 55731 against every reporting US ZIP.
FHFA HPI release change
What changed in the latest House Price Index year
- FHFA House Price Index values in ZIP 55731 (Ely, MN) rose +13.5% from 2023 to 2024. The all-transactions index moved from 230.3 in 2023 to 261.4 in 2024 (2000 = 100).
ZIP code 55731 is a mid-sized community (a standard USPS delivery area) in Ely, St. Louis County, Minnesota, home to 5,820 residents across 2155.6 square miles, a density of 3 people per square mile, in the Chicago time zone.
ZIP 55731 reports a modest median household income of $62,008 (24% below the average Minnesota ZIP), while per-capita income is $42,041. The poverty rate is 10.1%, with unemployment at 2.2%; those measures add context to the income figure. Home values sit below the statewide ZIP benchmark: the median is $206,000 (19% below the average Minnesota ZIP), and median rent is $644; owner occupancy is 75.0%.
A solid share of residents have a four-year degree: 40.5% of adults hold a bachelor's degree or higher, the median age is 60.3, and the average commute is 15 minutes. No nearby ZIP peer set is available for this delivery area, so the Minnesota and national benchmarks above are the appropriate context for 55731.
Every figure on this page is sourced from the U.S. Census Bureau American Community Survey 5-Year Estimates (including median rent) and the FHFA House Price Index, no estimates, no proprietary scoring. Verify with Census →
Top industries in ZIP 55731
Top 5 sectors by establishment count in Ely, MN
Which industries have the most business establishments in ZIP 55731.
- Accommodation and food services
Accommodation and food services
45 establishments
- Construction
Construction
37 establishments
- Retail trade
Retail trade
36 establishments
- Other services (except public administration)
Other services (except public administration)
26 establishments
- Health care and social assistance
Health care and social assistance
19 establishments
What this shows Establishment counts come from the Census ZIP Code Business Patterns program, which counts physical business locations rather than employees or revenue.
Source: U.S. Census Bureau, American Community Survey 5-Year Estimates + ZIP Code Business Patterns + FHFA HPI ACS demographics and median rent, ZBP business establishments, FHFA HPI for ZIP 55731, Ely, MN · 2023 Census ACS 5-Year Estimates use a rolling 60-month sample for stable small-geography estimates; ZBP updated annually; FHFA HPI updated quarterly/annually.
Quick Facts
5,820
Population
2155.6
Area (sq mi)
3
People / sq mi
Chicago
Time Zone
standard
ZIP Type
Who lives in ZIP 55731?
60.3
Median Age
49.9%
Male
50.1%
Female
1.8%
Foreign-Born
Hispanic or Latino is an ethnicity category from the Census Bureau and may overlap with other categories above.
Source: U.S. Census Bureau, ACS 5-Year Estimates (2023)
How much do residents earn?
$62,008
Median Household Income
-24% vs state ZIP avg
$42,041
Per Capita Income
10.1%
Poverty Rate
2.2%
Unemployment Rate
15.3 min
Mean Commute Time
How ZIP 55731 ranks among Minnesota ZIPs
Ely, MN household income vs. every Minnesota ZIP code
Median household income among 864 reporting Minnesota ZIPs (this ZIP's population is too small for a reliable national-corpus placement)
$62,008 16th percentile higher than 16% of 864 Minnesota ZIPs
Each bar is a $20K-wide band; taller bars hold more Minnesota ZIPs. The dashed line + filled bar mark this entry. Hover or tap any bar for its full count, share, and where it sits relative to this entry.
Source U.S. Census Bureau, ACS 5-Year Estimates · 2019–2023
Source: U.S. Census Bureau, ACS 5-Year Estimates (2023)
What is the education profile here?
Source: U.S. Census Bureau, ACS 5-Year Estimates (2023)
What does housing look like?
Housing stock: occupied vs vacant
4,915housing units
4,915
Total Housing Units
2,881
Occupied Units
2,034
Vacant Units
1.76
Avg Household Size
Occupancy Type
$206,000
Median Home Value
-19% vs state ZIP avg
$644
Median Rent
1972
Median Year Built
Source: U.S. Census Bureau, ACS 5-Year Estimates (2023)
How have home values changed over time?
FHFA House Price Index, annual appreciation data based on repeat sales and appraisals
+13.5%
YoY Change (2024)
261
HPI Index (2000 = 100)
+161%
Total Change Since 2000
Home values in ZIP 55731 have increased 13.5% over the past year (2024). Since 2000, this ZIP has seen +161% cumulative appreciation.
| Year | Annual Change | HPI Index |
|---|---|---|
| 2020 | +3.2% | 162 |
| 2021 | +9.6% | 178 |
| 2022 | +27.1% | 226 |
| 2023 | +1.9% | 230 |
| 2024 | +13.5% | 261 |
Source: Federal Housing Finance Agency (FHFA) House Price Index, All-Transactions, Five-Digit ZIP Codes (Developmental Index). Index base = 100 in year 2000. Data through 2024. ZIP codes with few transactions may show missing values.
What businesses operate in this ZIP?
Census Bureau data shows 252 business establishments in ZIP 55731, employing approximately 1,449 people with a combined annual payroll of $64,158,000.
252
Businesses
1,449
Employees
$64.2M
Annual Payroll
14
Industry Sectors
| Industry | Establishments | % of Total |
|---|---|---|
| Accommodation and food services | 45 | 17.9% |
| Construction | 37 | 14.7% |
| Retail trade | 36 | 14.3% |
| Other services (except public administration) | 26 | 10.3% |
| Health care and social assistance | 19 | 7.5% |
| Professional, scientific, and technical services | 16 | 6.3% |
| Arts, entertainment, and recreation | 16 | 6.3% |
| Real estate and rental and leasing | 14 | 5.6% |
| Manufacturing | 8 | 3.2% |
| Finance and insurance | 8 | 3.2% |
| Agriculture, forestry, fishing and hunting | 7 | 2.8% |
| Information | 6 | 2.4% |
| Administrative and support and waste management and remediation services | 6 | 2.4% |
| Transportation and warehousing | 3 | 1.2% |
Source: U.S. Census Bureau, ZIP Code Business Patterns (ZBP), 2023. Employment figures may include noise for disclosure avoidance.
Nationwide ZIPs with similar ACS profiles
Two Census-derived peer sets for ZIP 55731, both outside MN so the neighborhoods are not geographic containment (Nearby and same-county blocks stay local).
Similar population
Nearest cross-state ZIPs by resident population (5,820 here; floor ≥1,000).
Similar median household income
Nearest cross-state ZIPs by ACS median household income.
More ZIP Codes in St. Louis County
Related Areas
Frequently Asked Questions
What county is ZIP code 55731 in?
ZIP code 55731 (Ely) is located in St. Louis County, Minnesota. St. Louis County contains multiple ZIP codes, see the full list at /counties/st-louis-mn.
What is the population of ZIP code 55731?
ZIP code 55731 in Ely, MN has a population of 5,820 according to the Census Bureau ACS 2023 estimates.
What is the median household income in ZIP 55731?
The median household income in ZIP 55731 is $62,008, which is 19% below the national average of $76,288.
What is the average home value in ZIP 55731?
The median home value in ZIP 55731 is $206,000, which is 26% below the national average of $278,155.
What is the demographic makeup of ZIP 55731?
The largest racial group in ZIP 55731 is White at 94.3%. Hispanic or Latino residents make up 1.3% of the population.
How many businesses are in ZIP code 55731?
ZIP code 55731 has 252 business establishments employing approximately 1,449 people, according to Census Bureau ZIP Code Business Patterns (ZBP) 2023 data.
What are the main industries in ZIP code 55731?
The top industries by establishment count in ZIP 55731 are: Accommodation and food services (45), Construction (37), Retail trade (36). There are 14 industry sectors represented in total.
How have home values changed in ZIP code 55731?
According to the FHFA House Price Index, home values in ZIP 55731 increased by 13.5% in 2024. Since 2000, home values in this ZIP have appreciated by approximately 161%. This is a developmental index based on repeat sales and appraisal data from Fannie Mae and Freddie Mac.
What is the education level in ZIP code 55731?
In ZIP code 55731, 59.7% of residents aged 25+ have a high school diploma or higher, and 40.5% hold a bachelor's degree or higher. These figures come from the Census Bureau ACS 5-Year Estimates (2023).
What is the average commute time in ZIP 55731?
The mean commute time for workers in ZIP code 55731 is 15.3 minutes according to Census ACS data. The national average is roughly 26 minutes, so commuters here spend less time traveling to work than typical.
What percentage of residents own vs. rent in ZIP 55731?
In ZIP code 55731, approximately 75.0% of occupied housing units are owner-occupied and 25.0% are renter-occupied, based on Census ACS 2023 data.
What is the poverty rate in ZIP code 55731?
The poverty rate in ZIP code 55731 is 10.1% according to Census Bureau ACS 2023 estimates. This measures the percentage of the population living below the federal poverty threshold.
Related
Take this with you
What to do with ZIP 55731's numbers, next.
- See how ZIP 55731 compares to a neighboring ZIP code on the same Census fields Compare this ZIP
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ZIP Code Tabulation Areas (ZCTAs) are Census Bureau approximations of USPS ZIP codes; figures describe the ZCTA area, not any single address within it.