Ely, MN vs Cherry Valley, IL: Cost of Living

Which city costs less?

Cherry Valley, IL has a modeled overall cost index 23.5% higher than Ely, MN.

Ely, MN · modeled 2BR rent
$1,120 / month
Cherry Valley, IL · modeled 2BR rent
$1,070 / month

These are saved estimates, not current rental listings. Some cities use adjusted regional data. Your household budget can differ from the overall index. Sources and assumptions

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Cost of Living Comparison 2026

Compare Ely, MN and Cherry Valley, IL using saved regional data and explicit budgeting assumptions. Rent estimates are not live listings. Change the salary below, then check the source notes before applying a result to your household.

Saved regional estimates · Sources and assumptions

$
Numbers update automatically as you type

Estimated extra cost: $1,486/month in Cherry Valley, IL

$150,000 in your current city has a modeled equivalent of $167,834 in Cherry Valley, IL

Regional cost estimates: Ely, MN uses Saint Paul, MN. Cherry Valley, IL uses Madison, WI. Available city ZIP rent estimates are shown separately.
Overall Cost
↑ 23.5%
More expensive
Monthly Impact
$1,486
Extra cost
Annual Impact
$17.8K
Per year

Assumes 60% of current gross income goes to living costs. The headline uses the category budget below; taxes, moving costs and savings goals are excluded.

Ely, MN

Population:3K
Cost Index:
74.1
100 = national average
Typical Home:$264K

Cherry Valley, IL

Population:3K
Cost Index:
91.5
100 = national average
Typical Home:$271K

Planning the move to Cherry Valley?

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Ely, MN

The North Star State

3K
Population
State Tax
Yes

Located in Minnesota, this city has a population of 3K residents.

Cherry Valley, IL

The Prairie State

3K
Population
State Tax
Yes

Located in Illinois, this city has a population of 3K residents.

Cost Breakdown by Category

Estimated monthly spending: Ely, MN vs Cherry Valley, IL

Assumes 60% of your current gross income is spent on these categories. The headline and totals use this same budget. Rent estimates below are separate reference data. Rounded amounts may differ by $1.

Housing
↑ 25.9%
Ely, MN
$2,207
Cherry Valley, IL
$2,778
Difference
$571
more
Other
↑ 28.3%
Ely, MN
$1,564
Cherry Valley, IL
$2,007
Difference
$443
more
Transportation
↑ 26.0%
Ely, MN
$1,252
Cherry Valley, IL
$1,577
Difference
$325
more
All Utilities
↑ 11.1%
Ely, MN
$549
Cherry Valley, IL
$610
Difference
$61.11
more
Healthcare
↑ 5.7%
Ely, MN
$816
Cherry Valley, IL
$863
Difference
$46.28
more
Groceries
↑ 3.6%
Ely, MN
$1,112
Cherry Valley, IL
$1,151
Difference
$39.81
more

🏠Rent Comparison

Studio
From$770
To$730
↓ $40.00
1 Bed
From$850
To$810
↓ $40.00
2 Bed
From$1,120
To$1,070
↓ $50.00
3 Bed
From$1,390
To$1,410
↑ $20.00
Ely, MNZIP-level data

1BR range: $850–$850/mo

Cherry Valley, ILZIP-level data

1BR range: $810–$810/mo

💡 Note: HUD Fair Market Rents estimate 40th-percentile gross rents, including most tenant-paid utilities. City ZIP summaries are medians of those estimates, not market median rents. Actual prices vary by neighborhood, amenities, and condition. Source: HUD Small Area Fair Market Rents FY2026.

$7,500
Monthly in Ely, MN
$8,986
Monthly in Cherry Valley, IL
$1,486
Difference

Home Values

Ely
Cherry Valley
$264K
Median Value
$271K
↑ +4.2%
YoY Change
↑ +7.6%
↑ +42.5%
5-Year Change
↑ +53.9%

Homes in Cherry Valley are 2% more expensive than Ely

Calculate payment - ElyCalculate payment - Cherry Valley

Source: Zillow Home Value Index (ZHVI), January 2026

Tax Comparison

Annual tax burden comparison at $150.0K salary

Tax Savings
↑ $3.0K
Per year
Monthly Difference
$251
More take-home
Effective Rate Diff
2.0%
Rate difference

Ely, MN

Federal Income Tax
Effective: 18.9%
$25.5K
Minnesota State Tax
Effective: 7.0%
$10.4K
FICA Taxes
Social Security + Medicare
$11.5K
Total Taxes
Effective: 31.6%
$47.4K
Take-Home Pay
$8,546/month
$102.6K

Cherry Valley, IL

Federal Income Tax
Effective: 18.9%
$25.5K
Illinois State Tax
Effective: 5.0%
$7.4K
FICA Taxes
Social Security + Medicare
$11.5K
Total Taxes
Effective: 29.6%
$44.4K
Take-Home Pay
$8,797/month
$105.6K

Additional Tax Information

Ely, MN Tax Rates

Sales Tax:8.0%
Property Tax:1.1%

Cherry Valley, IL Tax Rates

Sales Tax:8.8%
Property Tax:2.2%

💡 Note: Tax calculations are estimates based on 2024/2025 tax brackets for single filers with standard deduction. Actual taxes may vary based on filing status, deductions, credits, and local variations.

Environment

Ely
Cherry Valley
36 Good
Air Quality
42 Good
72.4%
Good Air Days
72.1%
95 High
Climate Risk
94 Moderate
🌊🌡🌪
Top Hazards
🌊🌪💨
▲+3.7°F
2050 Outlook
▲+3.4°F
14 days
Heat Days >95°F
10 days
▲+3.7°F
2050 Outlook
▲+3.4°F
14 days
Heat Days >95°F
10 days

Before moving from Ely, MN to Cherry Valley, IL

Use this comparison to shortlist a move, then check the costs that depend on your household.

  1. Compare actual homes. Get current quotes in Cherry Valley, IL for the same bedroom count and included utilities as your home in Ely, MN. Add parking, deposits, insurance and any overlapping leases. The rent estimates above are a starting point, not available listings.
  2. Confirm your income. Check your expected pay with your employer, including any location adjustment. Use “Different salary at destination?” above to compare two incomes. The budget model excludes taxes and one-time moving costs; it is not a take-home-pay calculation.
  3. Price your daily routine. Check the commute from a specific address to work, school or childcare. Add household expenses missing from this model, such as childcare, debt payments and medical needs. Verify local services before signing a lease.
  4. Plan the transition. Get moving quotes and budget for travel, setup costs and time off. Open your Ely to Cherry Valley moving checklist to organize the tasks and timing.

Still choosing a destination? Explore cities similar to Cherry Valley, IL by cost, housing, population and region.

Frequently Asked Questions: Ely, MN vs Cherry Valley, IL

How do the cost estimates for Ely, MN and Cherry Valley, IL compare?

Cherry Valley, IL has a modeled overall cost index 23.5% higher than Ely, MN. This is a broad model comparison, not a survey of today's prices or a forecast of your household spending. Some cities use adjusted regional fallback data.

What does the equivalent salary mean?

At a $150,000 salary in Ely, MN, the model estimates $167,834 in Cherry Valley, IL. It allocates 60% of gross income to the origin city’s category budget and applies each destination category’s relative cost. The equivalent salary adds the total category difference to your income. The monthly difference is the same category difference divided by 12; it is not take-home pay or guaranteed savings. Household size, childcare and your actual lease are not inputs to this calculation.

What rent estimates are available for Ely, MN and Cherry Valley, IL?

The modeled two-bedroom rents are $1,120/month in Ely, MN and $1,070/month in Cherry Valley, IL. Where available, the source is a city median of HUD FY2026 ZIP-level estimates; otherwise a saved metro table is used. City adjustments may also apply. These are not asking rents or available listings. Compare actual properties with the same bedroom count and included utilities.

How should I use this comparison before moving?

Use it to shortlist locations, then replace modeled costs with a current housing quote, employer-confirmed income, commute costs, insurance and your household's other expenses. Add one-time moving costs separately. Source years differ and the saved datasets are not a live price feed. Read the methodology for the formulas and fallback rules.

💰 See how taxes change too — compare take-home pay between Minnesota and Illinois on TaxTakeHome.com

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