Cost of Living in Ironwood, MI

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19%
Overall NAT. AVG.
0%
Groceries NAT. AVG.
65%
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 Ironwood Michigan National
Cost of living8191100
Groceries10098100
Health care9997100
Housing3576100
Transportation10496100
Utilities107100100
Lifestyle & Entertainment9796100
Household Items10098100
Education & Childcare9895100
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Homes For Sale In Ironwood, MI

property for sale

N11101 Vanderhagen Rd

Ironwood, MI
property for sale

301 W Larch St

Ironwood, MI
property for sale

236 W Ayer St

Ironwood, MI
property for sale

505 W Southland Ave

Ironwood, MI
See the Newest Homes For Sale In Ironwood, MI

Cost Of Living Quick Facts

  • The cost of living in Ironwood is 11% lower than the Michigan average
  • The cost of living in Ironwood is 19% lower than the national average
  • Ironwood housing is 65% 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 Ironwood

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Compare Ironwood, 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$54,998$4,583$1,283$1,650
      Renters$30,426$2,536$710$913
      The affordability of the housing market in Ironwood, MI as well as the overall cost of living can be predicted by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Ironwood homeowners, the median income is $54,998. This indicates that a monthly maximum of $1,283 should be spent by homeowners on all housing related costs. Renters have a median income of $30,426. This indicates that renters would have a maximum of $710 for their rent related monthly 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.
      Iron Belt, WI1547920.7%
      Wakefield, MI1,7208019.9%
      Hurley, WI1,4348217.8%
      Pence, WI998217.7%
      Saxon, WI598317.5%
      Ironwood, MI5,0768118.9%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Hazard, KY5,0768811.9%
      Mendham, NJ5,07617272.0%
      Watseka, IL5,0758515.0%
      Winslow, ME5,075954.8%
      Los Chaves, NM5,075954.9%
      Ironwood, MI5,0768118.9%
      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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