Cost of Living in Iron County, MI
Population 11,667 · Census ACS 2020–2024 5-year estimates
The median rent in Iron County, MI is $716/month, 37% lower than the Michigan median and 49% lower than the U.S. median. The median home value is $109,100, 67% lower than the national median. Households earn a median of $55,940 a year, 23% lower than the state median.
Affordability
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Iron County vs. Michigan vs. U.S.
| Iron County | Michigan | U.S. | |
|---|---|---|---|
| Median rent | $716 | $1,129 | $1,413 |
| Median home value | $109,100 | $231,600 | $332,700 |
| Median household income | $55,940 | $72,875 | $80,734 |
| Homeownership rate | 84.5% | 73.2% | 65.2% |
| Bachelor's degree or higher | 22.5% | 32.4% | 35.7% |
| Poverty rate | 17.0% | 13.2% | 12.5% |
| Unemployment rate | 5.4% | 5.7% | 5.2% |
| Work from home | 11.6% | 13.5% | 15.1% |
| Median age | 53.1 | 40.2 | 38.9 |
FAQ
What is the average rent in Iron County, MI?
The median gross rent in Iron County, MI is $716 per month (ACS 2020–2024 5-year estimate).
How much do I need to earn to live in Iron County, MI?
Using the common 30% rule, renting a median-priced home takes about $28,640 a year in gross income.
Is Iron County, MI expensive to live in?
Rent there is 49% lower than the U.S. median, and the median home costs about 2.0 times the median household income.
Other counties in Michigan
Counties with a similar cost of living
Source: U.S. Census Bureau, American Community Survey 5-year estimates. Estimates have margins of error, especially for smaller places. This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
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