Living in Mountain Iron, Minnesota
Cost of living, income, home prices, rent and demographics of Mountain Iron · Census data 2020–2024
Mountain Iron has 2,860 residents with a median age of 47.5. The median household income is $83,293 (6% lower than the Minnesota median), the median home value is $192,800, the median rent is $918/month.
Mountain Iron at a glance
- Population
- 2,860
- Median age
- 47.5State: 38.8
- Median household income
- $83,293State: $89,062
- Median home value
- $192,800State: $329,300
- Median rent
- $918/moState: $1,280
- Homeowners
- 69.9%
- Bachelor's degree or higher
- 23.3%
- Average commute
- 16 min
Is Mountain Iron a good place to live?
Pros: Home values 41% lower than the state median; an average commute of 16 minutes; unemployment of 3.3%.
Cons: Median household income 6% lower than the Minnesota median; a poverty rate of 11.5%.
The weather is best in June to September.
Cost of living in Mountain Iron
Housing is the biggest part of the cost of living. In Mountain Iron the median home value is $192,800, 42% lower than the U.S. median. Renters pay a median of $918 per month, which is 25.2% of household income. Homeowners with a mortgage pay $1,431 a month in housing costs.
Mountain Iron median household income
The median household income in Mountain Iron is $83,293 and the income per person is $42,489. 11.5% of residents live below the poverty line (Minnesota: 9.3%).
Housing in Mountain Iron: homes for sale and rent
- Housing units
- 1,499
- Owner-occupied
- 69.9%
- Renter-occupied
- 30.1%
- Vacant
- 10.2%Includes seasonal homes
- Median year built
- 1974
- Average household size
- 2.10
Mountain Iron demographics
- Population
- 2,860
- Median age
- 47.5
- Under 18
- 16.7%
- 65 and older
- 26%
- Households
- 1,346
- Foreign-born
- 1%
- Veterans
- 11%Adults 18+
Hispanic or Latino can be of any race. Population history of Mountain Iron ›
Education in Mountain Iron
23.3% of adults 25 and older in Mountain Iron have a bachelor's degree or higher (Minnesota: 39.4%), and 5.8% have a graduate or professional degree.
Jobs and commute in Mountain Iron
- Unemployment rate
- 3.3%State: 4.1%
- Average commute
- 16 minState: 23 min
- Work from home
- 3.7%
- Drive alone
- 73%
- Public transit
- 0%
- Walk to work
- 0.6%
- Homes with broadband
- 90.6%
Mountain Iron vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Mountain Iron | 2,860 | $83,293 | $192,800 | $918 |
| Virginia | 8,332 | $51,720 | $120,600 | $792 |
| Kinney | 115 | $57,045 | $121,900 | $525 |
| Eveleth | 3,448 | $50,725 | $97,600 | $904 |
| Buhl | 1,022 | $58,750 | $127,700 | $1,043 |
| Gilbert | 1,697 | $64,625 | $126,000 | $698 |
| Chisholm | 4,712 | $50,891 | $109,200 | $732 |
| Biwabik | 966 | $67,917 | $111,200 | $749 |
| Aurora | 1,792 | $42,083 | $97,600 | $509 |
More for people moving to Mountain Iron
Mountain Iron ZIP code ›Weather and climate ›Living in Mountain Iron: FAQ
What is the median household income in Mountain Iron, MN?
The median household income in Mountain Iron is $83,293, 6% lower than the Minnesota median of $89,062 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Mountain Iron?
The median home value in Mountain Iron is $192,800, compared with $329,300 in Minnesota.
How much is rent in Mountain Iron?
The median gross rent in Mountain Iron is $918 per month, about 25.2% of household income.
Is Mountain Iron, MN a good place to live?
Pluses: home values 41% lower than the state median; an average commute of 16 minutes; unemployment of 3.3%. Minuses: median household income 6% lower than the Minnesota median; a poverty rate of 11.5%.
What is the median age in Mountain Iron?
The median age in Mountain Iron is 47.5 years (Minnesota: 38.8).
How long is the commute in Mountain Iron?
The average commute to work in Mountain Iron is 16 minutes; 3.7% of workers work from home.
What is the unemployment rate in Mountain Iron?
The unemployment rate in Mountain Iron is 3.3% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Mountain Iron?
23.3% of adults in Mountain Iron have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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