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These days, finding an affordable place to live in the Iron Mountain area can be challenging. Home prices in Iron Mountain are now at a median cost of $159,359, lower than the Michigan average of $250,415.
The average cost of rent is $852/mo in Iron Mountain, primarily driven by the current value of real estate in the Iron Mountain area. In Iron Mountain, 20.62% of households rent, and 52.64% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Iron Mountain is $5,397 per month. Households that rent pay about 15.78% of their income on rent here. Iron Mountain’s most expensive areas are in the northwestern regions, while the cheapest areas are in the southeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Kingsford, MI: less expensive homes
- Quinnesec, MI: higher priced homes
- Merriman, MI: higher priced homes
- Spread Eagle, WI: higher priced homes
- Niagara, WI: less expensive homes
- Granite Bluff, MI: higher priced homes
- Norway, MI: less expensive homes
- Florence, WI: higher priced homes
- Loretto, MI: equally priced homes
- Randville, MI: equally priced homes
Cities with Similar Populations
- Flat Rock, NC: higher priced homes
- Timmonsville, SC: less expensive homes
- Timonium, MD: higher priced homes
- Toano, VA: higher priced homes
- Tonganoxie, KS: higher priced homes
- Topsham, ME: higher priced homes
- Toronto, OH: less expensive homes
- Tremonton, UT: higher priced homes
- Triangle, VA: higher priced homes
- Franklin, VA: higher priced homes
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