Iron Mountain renters looking for the least expensive areas to rent should look for the areas towards the red end of the spectrum on the rent cost map. Those who don't mind paying for high-end and luxury apartments should seek out apartments in dark green areas.
On average, the cost of rent in Iron Mountain is about $764 per month. This puts it in the 63rd percentile compared to the state average cost of rent, which is $952. Households in Iron Mountain have a median income of $3,786 per month so the average renter in Iron Mountain is spending roughly 20% of their earnings on housing.
Nationally, and in Iron Mountain, home values are the data point most closely correlated with the cost of rent. The median price of a home in Iron Mountain is $149,168 right now, which is higher than nearby cities, meaning that rents in Iron Mountain also tend to be higher versus these nearby cities.
Higher rent prices are common in the central parts of Iron Mountain while lower rent rates are often available in southeastern areas.
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