Cost Of Living in Iron River, MI

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20%

Overall NAT. AVG.

3%

Groceries NAT. AVG.

64%

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 River	Michigan	National
Cost of living	80	91	100
Groceries	97	98	100
Health care	99	97	100
Housing	36	76	100
Transportation	100	96	100
Utilities	99	100	100
Lifestyle & Entertainment	97	96	100
Household Items	100	98	100
Education & Childcare	96	95	100

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Homes For Sale In Iron River, MI

628 N 7th Ave

Iron River, MI

4008 US Highway 2

Iron River, MI

37 Sleepy Hollow Way

Iron River, MI

Lot 37 Sleepy WAY

Iron River, MI

Cost Of Living Quick Facts

The cost of living in Iron River is 12% lower than the Michigan average
The cost of living in Iron River is 20% lower than the national average
Iron River housing is 64% 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

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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	$83,616	$6,968	$1,951	$2,509
Renters	$42,701	$3,558	$996	$1,281

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.
Gaastra, MI	341	77	23.0%
Alpha, MI	196	77	22.5%
Amasa, MI	249	78	21.7%
Caspian, MI	511	79	20.7%
Iron River, MI	2,938	80	20.3%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Bald Knob, AR	2,938	87	12.8%
Greensboro, MD	2,938	97	3.4%
Fayetteville, PA	2,938	101	1.3%
West, TX	2,938	91	8.6%
Kilauea, HI	2,937	183	82.7%
Iron River, MI	2,938	80	20.3%

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.

Cost of Living in Iron River, MI

Homes For Sale In Iron River, MI

Cost Of Living Quick Facts

Most Affordable Places to Live in and Around Iron River

Compare Iron River, MI Cost of Living

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Median Income & Debt-To-Income Ratio

Michigan Sales Tax

Michigan Income Tax

Nearby cities with low cost of living

Cities with similar population