Iron River, MI
Population 3,009 · Michigan
About Iron River, MI
Iron River is a small community in Michigan with a population of 3,009 residents. The median household income is $48,750 per year, which is below the national average. The median age in Iron River is 41.4 years.
Housing in Iron River has a median home value of $75,000 and median monthly rent of $435. Of the 1,858 total housing units, the majority are owner-occupied, with 971 owner-occupied and 378 renter-occupied units.
The unemployment rate in Iron River is 4.3% and the poverty rate is 23.2%. 16.5% of residents hold a bachelor's degree or higher. The average commute time is 11.2 minutes.
How Iron River Ranks in Michigan
Cost of Living in Iron River, MI
Compared to national averages, Iron River has a median household income of $48,750 (35% below the national median of $75,149). Home values average $75,000, which is 69% below the national median. Monthly rent at $435 is 63% below the US average of $1,163. Within Michigan, Iron River's income is 26% below the state average of $66,017, and home values are 59% below the state median of $183,391.
Why Live in Iron River, MI?
Iron River offers affordable housing with a median home value of $75,000, below the US average of $244,900, and rent that’s lower than the national average at $435/month, and short commute times averaging just 11.2 minutes.
Potential considerations include median household income ($48,750) that falls below the national average. However, Iron River’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Iron River has a population of 3,009 with a median age of 41.4 years. Compare Iron River with other cities to see how it stacks up, or explore all cities in Michigan.
Similar Cities Near Iron River
Cities in Michigan with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Bad Axe | 3,010 | $47,535 | $106,700 | Compare |
| Whitehall | 2,974 | $58,750 | $205,800 | Compare |
| Corunna | 3,054 | $47,420 | $142,000 | Compare |
| Potterville | 3,065 | $62,054 | $125,400 | Compare |
| Fowlerville | 2,950 | $43,155 | $189,000 | Compare |
| Ferrysburg | 2,949 | $62,096 | $225,400 | Compare |
| Bath | 2,938 | $64,375 | $202,600 | Compare |
| Harvey | 3,080 | $75,188 | $235,600 | 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.
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Frequently Asked Questions about Iron River
What is the population of Iron River, MI?
The population of Iron River, MI is 3,009 according to the latest Census data.
What is the median household income in Iron River?
The median household income in Iron River, MI is $48,750 per year.
What is the median home value in Iron River?
The median home value in Iron River, MI is $75,000.
What is the average rent in Iron River?
The median monthly rent in Iron River, MI is $435.
What is the unemployment rate in Iron River?
The unemployment rate in Iron River, MI is 4.3%.