Cost Of Living
Residents in this area benefit from an affordable cost of living. This includes goods and services, transportation, housing, utilities, groceries and healthcare.
Housing
The housing category in this area boasts higher than average scores, likely influenced by a positive home affordability ratio, robust appreciation rates or elevated home values.
Health & Safety
Earning a high health and safety score depends on factors such as good air quality and the availability of essential health facilities like hospitals, clinics, doctors, and fire stations.
Amenities
It appears that many amenities may not be conveniently situated within walking distance, potentially necessitating the use of a vehicle or public transit.
Commute
Commuters in this area may experience longer-than-average work commute times due to limited public transportation access.
Employment
The combination of low income levels and high unemployment rates contributes to a low score in the employment category, which could make it challenging to secure well-paying jobs.
Iron River is a smaller city located in the state of Michigan. The city has a population of 2,938 inhabitants. At 98%, the majority of the Iron River population is White; this is followed by 1% Black and 1% American Indian and Alaskan. All the single ladies and all the single fellas might want to take notice as only 50% of the Iron River population is married. Not a fan of sitting in traffic during your commute to work? Iron River offers shorter work commutes, with an average one-way commute time taking only 18 minutes, far lower than the national average of 26 minutes.
Living in Iron River can be a fulfilling experience for anyone relocating to the city. Having said that, in the state of Michigan, there are many incredible places to live, so choose wisely! When searching for a new neighborhood, several factors play a vital role in determining its suitability. Safety should be a top priority, ensuring a secure environment with low crime rates. Proximity to your workplace or school helps minimize commuting time and allows for a better work-life balance. Availability of essential amenities such as parks, coffee shops, restaurants, grocery stores, and healthcare facilities contributes to convenience and well-being. Access to reliable public transportation options facilitates easy commuting and connectivity. Additionally, considering the sense of community and the overall atmosphere that resonates with your lifestyle and preferences fosters a harmonious living experience. The best areas in Iron River and in surrounding cities are easier to find when you are able to make informed decisions. Using data from amenities, crime, cost of living, health & safety, housing, you will see a detailed breakdown of the most important information as well as comparisons to the Michigan and national averages.
With a livability score of 71 out of 100, Iron River is ranked #5,970 in the United States and #244 in Michigan. There are nine total categories that generate the livability score. Iron River scores well for housing (A+) On a more negative note, Iron River does not have favorable ranks for the following: amenities (F), education (D) and employment (F). If we take a look at the data, we can find out why.
Striving for a cost-effective lifestyle becomes increasingly essential, especially in light of the ongoing upward trajectory of everyday goods and services. In Iron River, residents enjoy the privilege of a cost of living that is 22.62% below the national average. This favorable positioning extends its influence across a broad spectrum of expenses, encompassing not only goods and services but also housing costs, groceries and healthcare costs. Consequently, this locale emerges as a hub where your financial resources go further, allowing you to maintain an economical and sustainable way of life. This affordability becomes increasingly significant in an era marked by escalating expenses, rendering Iron River an appealing destination for those in pursuit of financial prudence without sacrificing their quality of life.
Unemployment rates can vary significantly among cities, impacting job prospects, wage levels and the overall economic health of an area. In Iron River, the unemployment rate stands at 2.5%, suggesting increased job opportunities and a heightened demand for workers. This scenario can lead to higher wages, as the demand for employees outpaces job availability. Importantly, a low unemployment rate often signifies a robust and flourishing local economy.
A robust real estate market serves as a crucial economic indicator, reflecting the local area's strength, stability and the confidence of its residents. Iron River excels in the housing sector, scoring high marks based on factors such as median home and rental prices, appreciation rates and home affordability. These calculations suggest that the apartment rental and real estate market in the region is exceptionally healthy, highlighting the area's economic vitality and attractiveness to potential homebuyers and renters.
Certain items on your wish list like shopping, restaurants, nightlife, parks and proximity to public transportation are all important things to look for. Having said that, perhaps the most important metric to consider when contemplating a move to Iron River is real estate affordability. Median real estate prices in Iron River come in at $96,816, which is 58.9% lower than the Michigan average. The home price to income ratio compares the median home prices to the median household income. In Iron River, the home price to income ratio is 1.7, which is 46.9% lower than the Michigan average.
| Statistic | Iron River | Michigan | National |
| Average one way commute | 18min | 24min | 26min |
| Workers who drive to work | 78.6% | 82.5% | 76.4% |
| Workers who carpool | 10.9% | 8.8% | 9.3% |
| Workers who take public transit | 0.3% | 1.4% | 5.1% |
| Workers who bicycle | 0.0% | 0.5% | 0.6% |
| Workers who walk | 2.6% | 2.2% | 2.8% |
| Working from home | 7.7% | 3.7% | 4.6% |
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