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Iron River, MI
Full City Profile · Michigan · Iron County County
2.9
/5.0
C+
Fair
3,009
Population
446/sq mi density
$48,750
Median Income
$26,197 per capita
$75,000
Home Value
$115,083 Zillow
$435
Median Rent
27.7% income on rent
39°F
Avg Temperature
249 sunny days/yr
533
Violent Crime/100K
1,349 property/100K
C+
Overall
2.9 / 5.0
Fair overall score based on economy, affordability, safety and education
B
Economy
3.4 / 5.0
$48,750 median income, 2.5% unemployment
A+
Affordability
5.0 / 5.0
$75,000 home value, $435/mo rent
F
Safety
1.0 / 5.0
533 violent crimes/100K (40% above avg)
C
Education
2.3 / 5.0
16.5% bachelor's degree or higher
Housing Overview
Median Home Value
$75,000
73% below
US avg: $281,900
Median Rent
$435/mo
63% below
US avg: $1,163/mo
Homeownership Rate
72.0%
10% above US avg (65.4%)
Total Housing Units
1,762
Median year built: 1951
Home Value by Source
Census Median
$75,000
Zillow (ZHVI)
$115,083
Census ACS, Zillow ZHVI, Redfin median sale price
Ownership vs. Renting
72.0%
Owner-Occupied
28.0%
Renter-Occupied
US avg: 65.4% owner-occupied
Fair Market Rents (HUD FY2026)
Studio
$807/mo
1 Bedroom
$891/mo
2 Bedroom
$1,113/mo
3 Bedroom
$1,419/mo
4 Bedroom
$1,588/mo
Census median rent:
$435/mo
Affordability & Housing Stock
Rent Burden
27.7%
of renters spending 30%+ of income on housing
11% below US avg (31.0%)
Median Year Built
1951
Average age of housing stock: 75 years
Homeownership Rate
72.0%
Complete Housing Data
Home Values
| Census Median Value | $75,000 |
| Zillow Home Value (ZHVI) | $115,083 |
Rent
| Census Median Rent | $435 |
| FMR Studio | $807 |
| FMR 1-Bedroom | $891 |
| FMR 2-Bedroom | $1,113 |
| FMR 3-Bedroom | $1,419 |
| FMR 4-Bedroom | $1,588 |
Market
Ownership & Stock
| Owner-Occupied | 72.0% |
| Renter-Occupied | 28.0% |
| Homeownership Rate | 72.0% |
| Total Housing Units | 1,762 |
| Median Year Built | 1951 |
| Rent Burden | 27.7% |