Iron Mountain, MI Metro Area is an attractive place to live due to its comparatively low rent and grocery cost index. The 2 bedroom rent in Iron Mountain is $840 per month, significantly lower than the US average of $1,430. Additionally, groceries are about 91% of the average US cost. This makes it ideal for those looking for a cost-effective lifestyle choice. Furthermore, Iron Mountain has a range of local companies that contribute to its economy and offer employment opportunities. These include businesses such as Iron Mountain Insurance Group, the Peninsula Bank of Northern Michigan, Ore Dock Brewing Company and Corrigan Heating and Cooling Solutions.
Iron Mountain Metro Area has an unemployment rate of 5.4%. The US average is 6.0%.
Iron Mountain Metro Area has seen the job market increase by 1.1% over the last year. Future job growth over the next ten years is predicted to be 29.2%, which is lower than the US average of 33.5%.
Tax Rates for Iron Mountain Metro Area
- The Sales Tax Rate for Iron Mountain Metro Area is 5.9%. The US average is 7.3%.
- The Income Tax Rate for Iron Mountain Metro Area is 4.3%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Iron Mountain Metro Area
- The average income of a Iron Mountain Metro Area resident is $24,911 a year. The US average is $28,555 a year.
- The Median household income of a Iron Mountain Metro Area resident is $54,528 a year. The US average is $69,021 a year.