States › Michigan › Iron Mountain

Is Iron Mountain, MI expensive to live in?

CheapRent takes 16 cents of every $1 people earn here.
🏠 Rent per month (2026)$84252% lower than U.S. average
💵 Families earn per year (2026)$64,068about $5,339/month · 26% lower than U.S. average
🔑 House price$141,60057% lower than U.S. average

Rent here is among the lowest 10% of all U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards. Commutes are short, about 16 minutes.

How much money do I need?

To rent here comfortably, you should earn about $33,680 a year. That is $16 an hour at a full-time job.

Is rent cheaper than other Michigan cities?

Yes. Rent here is cheaper than in most of Michigan. It is number 11 of 179 cities from cheapest to most expensive.

Iron Mountain
$842
Hastings
$824
Freeland
$1,377
Albion
$968
Byron Center
$1,678
Shields
$1,041
St. Louis
$1,156

How much do households earn in Iron Mountain?

Under $25k
20.5%
$25k–50k
24.6%
$50k–100k
37.3%
$100k–150k
8.0%
$150k+
4.9%

Share of households by yearly income. 12.9% of households earn $100,000 or more.

Rent by apartment size in Iron Mountain

SizeIron MountainU.S. average
1 bedroom$766$1,324
2 bedrooms$748$1,509
3 bedrooms$1,019$1,698

Median monthly rent plus utilities for all renters, by number of bedrooms.

How expensive is Iron Mountain overall?

Everyday prices in Michigan overall are 4% below the U.S. average (index 96.2, U.S. = 100).

Housing
82
Goods (food, clothes…)
96
Utilities
100
Other services
101
U.S. average
100

Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Iron Mountain, so the Michigan figure is shown.

Taxes and bills in Iron Mountain

🏛️ Property tax$2,060a year · 1.45% of home value · U.S. $3,119
⚡ Electric bill$114a month (typical) · U.S. $156

Life in Iron Mountain

Commute to work16 minU.S.: 26.4 min
College degree22.8%U.S.: 35.7%
Own their home72.3%U.S.: 65.2%
Below poverty line13.5%U.S.: 12.5%
Unemployment4.2%U.S.: 5.2%

Is it cheaper to rent or buy in Iron Mountain?

Renting is cheaper right now: about $141 a month less.

Renting
$842
Owning
$983

Owning assumes a typical $141,600 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $14,160 for the down payment.

Frequently asked questions

What is the average rent in Iron Mountain, MI?

Renting in Iron Mountain costs a median of about $842 a month in 2026, including utilities. The Michigan median is $1,314.

How much do I need to make to live in Iron Mountain?

To keep rent under 30% of income, you need about $33,680 a year, or $16 an hour at a full-time job.

Is Iron Mountain cheap or expensive?

Iron Mountain is rated Cheap: rent takes 15.8% of the typical household income of $64,068. It ranks 11th cheapest of 179 Michigan cities we track.

How much are property taxes in Iron Mountain?

The median homeowner in Iron Mountain pays $2,060 a year in property taxes, about 1.45% of the median home value.

Is Iron Mountain more expensive than the national average?

Overall prices in Michigan are 4% below the U.S. average, according to the U.S. Bureau of Economic Analysis.

How much does a house cost in Iron Mountain?

The median home value in Iron Mountain is $141,600, about 2.2 times the typical yearly household income.

7,518 people live in Iron Mountain. Numbers are typical (middle) values.