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These days, finding an affordable place to live in the Mountain Iron area can be challenging. Home prices in Mountain Iron are now at a median cost of $208,011, lower than the Minnesota average of $345,793.
The average cost of rent is $829/mo in Mountain Iron, primarily driven by the current value of real estate in the Mountain Iron area. In Mountain Iron, 26.28% of households rent, and 43.74% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Mountain Iron is $6,454 per month. Households that rent pay about 12.85% of their income on rent here. Mountain Iron’s most expensive areas are in the southern regions, while the cheapest areas are in the eastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Parkville, MN: equally priced homes
- Leonidas, MN: less expensive homes
- Virginia, MN: less expensive homes
- Eveleth, MN: less expensive homes
- Iron Junction, MN: equally priced homes
- Genoa, MN: higher priced homes
- Iron, MN: equally priced homes
- Kinney, MN: equally priced homes
- Buhl, MN: less expensive homes
- McKinley, MN: less expensive homes
Cities with Similar Populations
- Kittitas, WA: higher priced homes
- Randolph, WI: higher priced homes
- Lowellville, OH: less expensive homes
- Taftville, CT: higher priced homes
- Centre Hall, PA: higher priced homes
- Helena, GA: less expensive homes
- Whitefield, NH: higher priced homes
- Oswichee, AL: higher priced homes
- Bear Creek, NC: equally priced homes
- David City, NE: less expensive homes
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