Iron River cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexIron RiverMichiganNational
Cost of living index7889100
IndexIron RiverMichiganNational
Goods & Services index9394100
Groceries index9194100
Health care index104100100
Housing index3673100
Transportation index103101100
Utilities index10396100

Did you know?

  • The cost of living in Iron River is 12% lower than the Michigan average.
  • The cost of living in Iron River is 22% lower than the national average.
  • The cost of housing in Iron River is 64% lower than the national average.
  • Michigan general sales tax is 18% higher than the national average.
  • Michigan state income tax is 91% higher than the national average.

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Compare Iron River, MI Cost of living To Other Cities

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Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$31,000$2,583$723$930
Renters$13,229$1,102$309$397

Michigan Sales Tax

StateGeneral Sales TaxWith Max Surtax
Michigan6%6%

Michigan Income Tax

StateIncome Tax (Low)Income Tax (High)
Michigan4.25%4.25%

Goods & Services

ItemIron RiverNational avg.Difference
Haircut $9.88$15.5636.5%
Beauty Salon $23.75$36.1134.2%
Toothpaste $1.51$2.4739.0%
Shampoo $0.90$0.966.9%
Movie $10.06$10.130.6%
Bowling $2.60$4.7445.1%

Groceries

ItemIron RiverNational avg.Difference
Ground Beef $3.85$3.983.3%
Fried Chicken $1.42$1.410.6%
Milk $1.66$2.0619.5%
Potatoes $1.78$2.9840.5%
Pizza $8.97$9.475.4%
Beer $7.44$8.7915.4%

Health Care

ItemIron RiverNational avg.Difference
Optometrist $60.59$101.0440.0%
Doctor $138.70$107.4429.1%
Dentist $86.47$90.424.4%
Ibuprofen $9.33$9.280.6%
Lipitor $438.22$426.502.7%

Housing

ItemIron RiverNational avg.Difference
Home Price $51,300.00$175,700.0070.8%
Avg. Mortgage Payment $877.86$1,133.2322.5%
Apartment Rent $485.00$920.0047.3%

Transportation

ItemIron RiverNational avg.Difference
Gasoline $1.96$1.991.6%
Tire Balancing $51.31$45.7612.1%

Utilities

ItemIron RiverNational avg.Difference
All Electricity$145.56$163.8111.1%
Phone $34.63$28.3922.0%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
Alpha, MI8373-27%
Amasa, MI35176-24%
Gaastra, MI31878-22%
Caspian, MI79079-21%
Iron River, MI2,97978-22%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Crandall, TX2,97999-1%
Fairview CDP (Westchester County), NY2,97814141%
Lucedale, MS2,97889-11%
Lakewood, NY2,97883-17%
Westhampton, NY2,97818080%
Iron River, MI2,97978-22%
Source: The Iron River, MI cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.