Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the Iron River area can be challenging. Home prices in Iron River are now at a median cost of $85,234, lower than the Michigan average of $196,062.
The average cost of rent is $668/mo in Iron River, primarily driven by the current value of real estate in the Iron River area. While nearly 54.13% of residents own their homes outright in Iron River, 19.38% rent.
Housing affordability isn’t just about home prices, though. The average household income in Iron River is $3,569 per month. Households that rent pay about 18.71% of their income on rent here. Iron River's most expensive areas are in the central regions, while the cheapest areas are in the eastern parts of the city.
Nearby Cities
- Caspian, MI: less expensive homes
- Stambaugh, MI: less expensive homes
- Mineral Hills, MI: less expensive homes
- Gaastra, MI: less expensive homes
- Scott Lake, MI: less expensive homes
- Beechwood, MI: higher priced homes
- Gibbs City, MI: higher priced homes
- Fortune Lake, MI: higher priced homes
- Pentoga, MI: higher priced homes
- Tipler, WI: equally priced homes
Cities with Similar Populations
- Swanton, VT: higher priced homes
- Belvedere, SC: higher priced homes
- Bensley, VA: higher priced homes
- Ocean View, NJ: higher priced homes
- Paxton, IL: higher priced homes
- Aurora, NE: higher priced homes
- Auburn, PA: higher priced homes
- Auburn, NH: higher priced homes
- Auburn, MI: higher priced homes
- Auburn, KY: higher priced homes
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