Mountain Iron, MN is an affordable city to live in. The average rent for a two bedroom apartment is $950, significantly lower than the national average of $1,430. Grocery costs are also lower than the national average; the grocery cost index in Mountain Iron stands at 94 versus 100 in the US. This makes it easy to stay within a budget when living in Mountain Iron. Some local companies in Mountain Iron include United States Steel Corporation, Olcott Plastics Inc., and Kato Engineering Inc. As well as many of other small businesses like restaurants, shops, and service providers that offer great products and services for locals and visitors alike.
Mountain Iron has an unemployment rate of 4.8%. The US average is 6.0%.
Mountain Iron has seen the job market decrease by -4.0% over the last year. Future job growth over the next ten years is predicted to be 29.9%, which is lower than the US average of 33.5%.
Tax Rates for Mountain Iron
- The Sales Tax Rate for Mountain Iron is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Mountain Iron is 7.1%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Mountain Iron
- The average income of a Mountain Iron resident is $34,236 a year. The US average is $37,638 a year.
- The Median household income of a Mountain Iron resident is $66,429 a year. The US average is $69,021 a year.