Cost of Living in Mountain Iron, MN

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A+
5%
Overall NAT. AVG.
0%
Groceries NAT. AVG.
18%
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 Mountain Iron Minnesota National
Cost of living95100100
Groceries100100100
Health care99100100
Housing82100100
Transportation104100100
Utilities107104100
Lifestyle & Entertainment97100100
Household Items100100100
Education & Childcare9899100
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Homes For Sale In Mountain Iron, MN

property for sale

8880 Main St

Mountain Iron, MN
property for sale

4971 Highway 7

Mountain Iron, MN
property for sale

5440 Park Dr

Mountain Iron, MN
property for sale

8572 Mud Lake Rd

Mountain Iron, MN

Cost Of Living Quick Facts

  • The cost of living in Mountain Iron is 5% lower than the Minnesota average
  • The cost of living in Mountain Iron is 5% lower than the national average
  • Mountain Iron housing is 18% lower than the national average
  • Minnesota general sales tax is 35% higher than the national average
  • Minnesota state income tax is 106% higher than the national average

Most Affordable Places to Live in and Around Mountain Iron

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      Utilities index
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      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$114,492$9,541$2,671$3,435
      Renters$29,493$2,458$688$885

      Minnesota Sales Tax

      State General Sales Tax With Max Surtax
      Minnesota 6.875% 7.875%

      Minnesota Income Tax

      State Income Tax (Low) Income Tax (High)
      Minnesota 5.35% 9.85%

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Kinney, MN1928119.3%
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      Eveleth, MN3,6828614.5%
      Chisholm, MN5,0258614.3%
      Biwabik, MN6578614.0%
      Mountain Iron, MN2,918955.0%

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      Peace River E, BC2,917n/a 
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      Cazenovia, NY2,92011010.4%
      Mountain Iron, MN2,918955.0%
      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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