Iron Mountain, MI
Population 7,508 · Michigan
About Iron Mountain, MI
Iron Mountain is a small town located in Michigan with a population of 7,508 residents according to the latest US Census Bureau American Community Survey data. The median household income is $56,622 per year, which is 25% below the national median of $75,149. The median age of 42.9 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Iron Mountain features a median home value of $117,600, which is 52% below the national median of $244,900. This makes Iron Mountain one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $656, 44% below the national average of $1,163/month. Of the 3,771 total housing units, 73% are owner-occupied (2,567 units) and 27% are renter-occupied (971 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Iron Mountain shows an unemployment rate of 5.1%, which is near the national rate of 3.7%. The poverty rate stands at 11.5%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Iron Mountain have an average one-way commute time of 16.1 minutes, one of the shorter commutes in the region.
Education & Demographics
23.5% of Iron Mountain residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 1.3% White, 3.5% Hispanic or Latino, 0.0% Black or African American, and 1.3% Asian residents, with 2.2% of the population being foreign-born.
Cost of Living in Iron Mountain, MI
Compared to national averages, Iron Mountain has a median household income of $56,622 (25% below the national median of $75,149). Home values average $117,600, which is 52% below the national median. Monthly rent at $656 is 44% below the US average of $1,163. Within Michigan, Iron Mountain's income is 14% below the state average of $66,017, and home values are 36% below the state median of $183,391.
Why Live in Iron Mountain, MI?
Iron Mountain offers affordable housing with a median home value of $117,600, below the US average of $244,900, and rent that’s lower than the national average at $656/month, and a low poverty rate of 11.5%, better than the national average. Additionally, the city features short commute times averaging just 16.1 minutes.
Potential considerations include median household income ($56,622) that falls below the national average. However, Iron Mountain’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Iron Mountain has a population of 7,508 with a median age of 42.9 years. Compare Iron Mountain with other cities to see how it stacks up, or explore all cities in Michigan.
Similar Cities Near Iron Mountain
Cities in Michigan with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Hastings | 7,515 | $56,309 | $159,000 | Compare |
| Freeland | 7,562 | $103,431 | $241,400 | Compare |
| Brighton | 7,576 | $81,772 | $302,800 | Compare |
| Albion | 7,608 | $40,040 | $91,100 | Compare |
| Ludington | 7,664 | $44,471 | $192,800 | Compare |
| Hudsonville | 7,711 | $88,606 | $260,500 | Compare |
| St. Johns | 7,712 | $63,030 | $175,300 | Compare |
| Shields | 7,276 | $83,986 | $173,300 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Michigan
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Iron Mountain With Other Cities
Frequently Asked Questions about Iron Mountain
What is the population of Iron Mountain, MI?
The population of Iron Mountain, MI is 7,508 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Michigan.
What is the median household income in Iron Mountain?
The median household income in Iron Mountain, MI is $56,622 per year, which is 25% below the national median of $75,149.
What is the median home value in Iron Mountain?
The median home value in Iron Mountain, MI is $117,600, which is 52% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Iron Mountain?
The median monthly rent in Iron Mountain, MI is $656, which is 44% below the national average of $1,163/month.
What is the unemployment rate in Iron Mountain?
The unemployment rate in Iron Mountain, MI is 5.1%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Iron Mountain, MI a good place to live?
Iron Mountain offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 7,508 and a median age of 42.9, the city appeals to a broad range of residents.
How educated is Iron Mountain, MI?
23.5% of residents in Iron Mountain aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Iron Mountain?
Key cost-of-living indicators for Iron Mountain, MI: median home value is $117,600 (52% below national), median rent is $656/month, and median household income is $56,622. The home-value-to-income ratio is 2.1x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Iron Mountain?
The poverty rate in Iron Mountain, MI is 11.5%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Iron Mountain, MI?
Iron Mountain's population is 1.3% White, 3.5% Hispanic or Latino, 0.0% Black or African American, 1.3% Asian, and 1.7% two or more races. 2.2% of residents are foreign-born.