Ironwood, MI
Population 5,004 · Michigan
About Ironwood, MI
Ironwood is a small town located in Michigan with a population of 5,004 residents according to the latest US Census Bureau American Community Survey data. The median household income is $37,191 per year, which is 51% below the national median of $75,149. The median age of 50.4 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 Ironwood features a median home value of $74,900, which is 69% below the national median of $244,900. This makes Ironwood one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $555, 52% below the national average of $1,163/month. Of the 3,072 total housing units, 73% are owner-occupied (1,960 units) and 27% are renter-occupied (733 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Ironwood shows an unemployment rate of 12.7%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 14.9%, above the national average of 12.4%. Workers in Ironwood have an average one-way commute time of 18.6 minutes, one of the shorter commutes in the region.
Education & Demographics
19.5% of Ironwood 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 1.9% White, 1.5% Hispanic or Latino, 0.2% Black or African American, and 0.3% Asian residents, with 0.3% of the population being foreign-born.
How Ironwood Ranks in Michigan
Cost of Living in Ironwood, MI
Compared to national averages, Ironwood has a median household income of $37,191 (51% below the national median of $75,149). Home values average $74,900, which is 69% below the national median. Monthly rent at $555 is 52% below the US average of $1,163. Within Michigan, Ironwood's income is 44% below the state average of $66,017, and home values are 59% below the state median of $183,391.
Why Live in Ironwood, MI?
Ironwood offers affordable housing with a median home value of $74,900, below the US average of $244,900, and rent that’s lower than the national average at $555/month, and short commute times averaging just 18.6 minutes.
Potential considerations include median household income ($37,191) that falls below the national average. However, Ironwood’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Ironwood has a population of 5,004 with a median age of 50.4 years. Compare Ironwood with other cities to see how it stacks up, or explore all cities in Michigan.
Similar Cities Near Ironwood
Cities in Michigan with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Gibraltar | 4,937 | $88,682 | $212,300 | Compare |
| Davison | 5,082 | $50,450 | $166,100 | Compare |
| Frankenmuth | 5,108 | $84,583 | $277,600 | Compare |
| Kingsford | 5,138 | $61,108 | $110,600 | Compare |
| Pearl Beach | 4,846 | $84,079 | $303,000 | Compare |
| Coopersville | 4,841 | $62,575 | $216,900 | Compare |
| Allegan | 5,182 | $42,261 | $161,100 | Compare |
| Utica | 5,184 | $55,524 | $216,800 | 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 Ironwood With Other Cities
Frequently Asked Questions about Ironwood
What is the population of Ironwood, MI?
The population of Ironwood, MI is 5,004 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 Ironwood?
The median household income in Ironwood, MI is $37,191 per year, which is 51% below the national median of $75,149.
What is the median home value in Ironwood?
The median home value in Ironwood, MI is $74,900, which is 69% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Ironwood?
The median monthly rent in Ironwood, MI is $555, which is 52% below the national average of $1,163/month.
What is the unemployment rate in Ironwood?
The unemployment rate in Ironwood, MI is 12.7%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Ironwood, MI a good place to live?
Ironwood offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 5,004 and a median age of 50.4, the city appeals to established professionals and retirees.
How educated is Ironwood, MI?
19.5% of residents in Ironwood 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 Ironwood?
Key cost-of-living indicators for Ironwood, MI: median home value is $74,900 (69% below national), median rent is $555/month, and median household income is $37,191. The home-value-to-income ratio is 2.0x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Ironwood?
The poverty rate in Ironwood, MI is 14.9%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Ironwood, MI?
Ironwood's population is 1.9% White, 1.5% Hispanic or Latino, 0.2% Black or African American, 0.3% Asian, and 0.5% two or more races. 0.3% of residents are foreign-born.