Housing costs in Iron Mountain?
A typical home costs
$145,200, which is 57.1% less expensive than the national average of
$338,100 and 33.6% less expensive than the average Michigan home, at
$218,700. Renting a two-bedroom unit in Iron Mountain costs
$800 per month, which is 27.3% cheaper than the national average of
$1,100 and 5.0% cheaper than the state average of
$840.
Can I afford Iron Mountain?
To live comfortably in Iron Mountain (zip 49801), Michigan, a minimum annual income of
$27,720 for a family, and
$26,800 for a single person is recommended.
What does A.I. say about Iron Mountain?
The cost of living in 49801 Iron Mountain, MI is relatively low compared to other parts of the country. The median home value in the city is $116,700, which is significantly lower than the national average of $184,700. Additionally, the median household income for families in Iron Mountain is $43,111 per year, which is approximately 21% lower than the national average of $53,482. The overall cost of living index for this zip code is 89.2 (with 100 being equal to the national average) making it a very affordable place to live. Groceries and health care are slightly more expensive than other cities with averages costing 8% and 6% higher respectively; however housing prices are significantly lower. All in all, 49801 Iron Mountain offers a great quality of life without breaking the bank!