States › Michigan › Ishpeming

Is Ishpeming, MI expensive to live in?

CheapRent takes 17 cents of every $1 people earn here.
🏠 Rent per month (2026)$81154% lower than U.S. average
💵 Families earn per year (2026)$56,895about $4,741/month · 35% lower than U.S. average
🔑 House price$111,90066% 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 18.8 minutes.

How much money do I need?

To rent here comfortably, you should earn about $32,440 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 8 of 179 cities from cheapest to most expensive.

Ishpeming
$811
Rockford
$1,229
Manistee
$849
Northville
$2,054
Huntington Woods
$2,757
Milan
$1,285
Holly
$1,097

How much do households earn in Ishpeming?

Under $25k
26.1%
$25k–50k
25.7%
$50k–100k
32.7%
$100k–150k
7.4%
$150k+
4.4%

Share of households by yearly income. 11.8% of households earn $100,000 or more.

Rent by apartment size in Ishpeming

SizeIshpemingU.S. average
1 bedroom$662$1,324
2 bedrooms$920$1,509
3 bedrooms$602$1,698

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

How expensive is Ishpeming 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 Ishpeming, so the Michigan figure is shown.

Taxes and bills in Ishpeming

🏛️ Property tax$1,689a year · 1.51% of home value · U.S. $3,119
⚡ Electric bill$140a month (typical) · U.S. $156

Life in Ishpeming

Commute to work18.8 minU.S.: 26.4 min
College degree27%U.S.: 35.7%
Own their home69.8%U.S.: 65.2%
Below poverty line18.7%U.S.: 12.5%
Unemployment6.4%U.S.: 5.2%

Is it cheaper to rent or buy in Ishpeming?

About the same. Renting and owning cost within $35 of each other each month.

Renting
$811
Owning
$776

Owning assumes a typical $111,900 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $11,190 for the down payment.

Frequently asked questions

What is the average rent in Ishpeming, MI?

Renting in Ishpeming costs a median of about $811 a month in 2026, including utilities. The Michigan median is $1,314.

How much do I need to make to live in Ishpeming?

To keep rent under 30% of income, you need about $32,440 a year, or $16 an hour at a full-time job.

Is Ishpeming cheap or expensive?

Ishpeming is rated Cheap: rent takes 17.1% of the typical household income of $56,895. It ranks 8th cheapest of 179 Michigan cities we track.

How much are property taxes in Ishpeming?

The median homeowner in Ishpeming pays $1,689 a year in property taxes, about 1.51% of the median home value.

Is Ishpeming 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 Ishpeming?

The median home value in Ishpeming is $111,900, about 2.0 times the typical yearly household income.

6,181 people live in Ishpeming. Numbers are typical (middle) values.