This is a small community in a single neighborhood.
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What do we mean by a neighborhood?
NeighborhoodScout® uses the official government designation for neighborhoods - the census tract.
Census tracts are small, relatively permanent subdivisions of a county that are defined by the U.S. Census Bureau in conjunction with local authorities all across the country to define real neighborhoods that are bounded to contain areas with homogeneous population characteristics (including economic status, lifestyle, and living conditions). Census tracts usually have 4,000 persons, but can range between 1,500 and 8,000 persons. This is the most fine-grained area for which detailed information is made available from the government, to protect the individual privacy of each of us. Because census tracts are based on population, they vary in size depending on the density of settlement. In urban areas, they are small, and in rural areas they can cover an entire small town or even a few small towns in very rural areas.
Since census tracts are subdivisions of a county, we did a spatial overlay of the census tracts onto city and town boundaries using a geographic information system to properly assign each census tract to its appropriate city or town. Then we named each census tract to the local colloquially recognized neighborhood name for that spot (e.g., Boston, MA (Dorchester). If there was not a name available, we named the census tract by the largest street intersection in the census tract (e.g., Worcester, MA (Lincoln St/Plantation St)
Why we don't use Zip Codes as neighborhoods
Zip codes were developed by the Postal Service for the purpose of delivering mail, but were never intended to define coherent neighborhoods. In addition, Zip Codes can have as many as 10 distinctly different census tracts contained within them. When distinct census tracts are blended together in a single Zip Code, the data reflects their average conditions and often gives a false sense of the area. The result is that potentially great matching neighborhoods can be missed, and erroneous matches can also be produced and delivered to you.
Using census tracts makes great matches possible, and helps people find the areas that are best for them and their families. Because we are committed to providing the highest possible quality and finding the neighborhoods that best meet your criteria, we use census tracts. And, as always, we show you the actual street map of the neighborhood so you know exactly where your best matching neighborhood is located.
What is a Condition Alert?
A condition alert is a condition in the neighborhood that triggers an alert. NeighborhoodScout contains condition alerts to highlight conditions that are extreme, whether good or bad. This helps answer crucial questions about the state of the neighborhood being evaluated, such as:
What are the risks of violent crime here?
Is the risk of home break-ins or other property crimes increasing?
Does real estate here hold its value?
Are the trends in local vacancies or unemployment concerning?
...and dozens more.
Information at a glance that you need to know to invest, appraise or finance a property.
Ely is a very small city located in the state of Iowa. With a population of 2,340 people and just one neighborhood, Ely is the 244th largest community in Iowa. Much of the housing stock in Ely was built relatively recently. The construction of new real estate can often be taken as an indication that the local Ely economy is robust, and that jobs or other amenities are attracting an influx of new residents. This seems to be the case in Ely, where the median household income is $97,188.00.
Ely real estate is some of the most expensive in Iowa, although Ely house values don't compare to the most expensive real estate in the U.S.
Occupations and Workforce
Unlike some cities where white-collar or blue-collar occupations dominate the local economy, Ely is neither predominantly one nor the other. Instead, it has a mixed workforce of both white- and blue-collar jobs. Overall, Ely is a city of professionals, managers, and sales and office workers. There are especially a lot of people living in Ely who work in management occupations (13.24%), office and administrative support (10.36%), and teaching (9.08%).
Also of interest is that Ely has more people living here who work in computers and math than 95% of the places in the US.
Setting & Lifestyle
Because of many things, Ely is a great place for families with children to consider. First of all, many other families with children live here, making Ely a place where both parents and children are more likely to develop social ties with other families, as well as find family-oriented services and community. The city’s good public school district and large population of college-educated adults provide an environment conducive to academic values. With regard to real estate, Ely has a high rate of owner-occupied single family homes, which tends to reflect stability in the local community. Finally, Ely’s overall crime rate is lower than average for the country.
Demographics
The citizens of Ely are very well educated compared to the average community in the nation: 35.18% of adults in Ely have a bachelor's degree or even advanced degree.
The per capita income in Ely in 2022 was $41,083, which is wealthy relative to Iowa, and upper middle income relative to the rest of the US. This equates to an annual income of $164,332 for a family of four.
The people who call Ely home describe themselves as belonging to a variety of racial and ethnic groups. The greatest number of Ely residents report their race to be White, followed by Black or African-American. Important ancestries of people in Ely include German, Irish, Czech, English, and Norwegian.
The most common language spoken in Ely is English. Other important languages spoken here include Polish and Italian.
Notable & Unique Neighborhood Characteristics
When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.
People
If you are an executive or professional seeking a neighborhood affording an executive lifestyle, or just wanting to find where other executives live in the area, the neighborhood should be on your list. It has an enviable mix of spacious homes, relatively stable real estate values, and residents that include a number of wealthy executives, managers, and professionals. NeighborhoodScout's exclusive analysis places it as one of the top 11.3% executive lifestyle neighborhoods in the state of Iowa.
Diversity
Did you know that the neighborhood has more Belgian and Swiss ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.0% of this neighborhood's residents have Belgian ancestry and 1.4% have Swiss ancestry.
The Neighbors
How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.
The neighbors in the neighborhood in Ely are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 78.5% of the neighborhoods in America. In addition, 3.2% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 70.8% of America's neighborhoods.
What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.
In the neighborhood, 46.8% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 22.4% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (20.4%), and 9.7% in clerical, assistant, and tech support occupations.
Languages
The most common language spoken in the neighborhood is English, spoken by 96.8% of households.
Ethnicity / Ancestry
Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.
In the neighborhood in Ely, IA, residents most commonly identify their ethnicity or ancestry as German (30.5%). There are also a number of people of Irish ancestry (14.1%), and residents who report English roots (8.6%), and some of the residents are also of Norwegian ancestry (5.3%), along with some French ancestry residents (2.3%), among others.
Getting to Work
Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in neighborhood spend between 15 and 30 minutes commuting one-way to work (56.7% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (81.8%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (7.1%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
SCOUT’s patented match algorithm identifies the most similar neighborhoods to a subject location, and quantifies the similarity to the subject location. This allows analysts to identify the most similar neighborhoods in a local market area for appraisals, investments, and research.
The algorithm uses 273 neighborhood conditions, identifies the dominant dimensions underlying the conditions and calculates the similarity. This captures the true culture and character of locations, economic conditions, and trends.
The closer to 100% means the locations are nearly identical. 80% is a very good, but not excellent match, and so forth.
