Cost of Living in Iron Mountain, MI

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14%
Overall NAT. AVG.
4%
Groceries NAT. AVG.
42%
Housing NAT. AVG.
Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.
The cost of living index is based on a national average of 100. For example, if the cost of living score is 90, then the estimated cost of living is 10% lower than the national average. If the score is 110, then the estimated cost of living is 10% higher than average. The overall index is calculated using weighted estimates across major everyday expense categories, including housing (30%), groceries (16%), transportation (12%), healthcare (10%), utilities (8%), lifestyle and entertainment (8%), household expenses (8%), and education and childcare (8%). All values are AI-assisted city-level estimates designed for directional comparisons.
Index Iron Mountain Michigan National
Cost of living8691100
Groceries9798100
Health care9697100
Housing5876100
Transportation9996100
Utilities99100100
Lifestyle & Entertainment9496100
Household Items9898100
Education & Childcare10395100
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Homes For Sale In Iron Mountain, MI

property for sale

617 E E St

Iron Mountain, MI
property for sale

1035 E E St

Iron Mountain, MI
property for sale

1300 Michigan Ave

Iron Mountain, MI
property for sale

1300 Michigan Ave #21

Iron Mountain, MI

Cost Of Living Quick Facts

  • The cost of living in Iron Mountain is 6% lower than the Michigan average
  • The cost of living in Iron Mountain is 14% lower than the national average
  • Iron Mountain housing is 42% lower than the national average
  • Michigan general sales tax is 18% higher than the national average
  • Michigan state income tax is 64% higher than the national average

Most Affordable Places to Live in and Around Iron Mountain

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Compare Iron Mountain, MI Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index
      Lifestyle index
      Household index
      Educare index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$85,010$7,084$1,983$2,551
      Renters$42,076$3,506$982$1,262
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Iron Mountain, MI, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Iron Mountain homeowners, is $85,010. This would allow for a maximum of $1,983 per month to be spent on housing costs. For renters, the median monthly income is $42,076 which would result in a maximum of $982 to be spent on rental costs.

      Michigan Sales Tax

      State General Sales Tax With Max Surtax
      Michigan 6% 6%

      Michigan Income Tax

      State Income Tax (Low) Income Tax (High)
      Michigan 4.25% 4.25%

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Pembine, WI211982.3%
      Dunbar, WI597723.2%
      Florence, WI4407822.1%
      Goodman, WI2847920.9%
      Niagara, WI1,5198515.4%
      Iron Mountain, MI7,5178614.3%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Nebraska City, NE7,5168910.5%
      Shields, MI7,518927.6%
      Waikele, HI7,51917170.6%
      Kahaluu-Keauhou, HI7,51417878.3%
      University Park, IL7,513936.6%
      Iron Mountain, MI7,5178614.3%
      Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.
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