Mountain Iron, MN
Population 2,865 · Minnesota
About Mountain Iron, MN
Mountain Iron is a small town located in Minnesota with a population of 2,865 residents according to the latest US Census Bureau American Community Survey data. The median household income is $81,607 per year, which is 9% above the national median of $75,149. The median age of 49.5 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 Mountain Iron features a median home value of $180,700, which is 26% below the national median of $244,900. This positions Mountain Iron in a moderately priced market relative to the rest of the country. Median monthly rent is $911, 22% below the national average of $1,163/month. Of the 1,423 total housing units, 74% are owner-occupied (962 units) and 26% are renter-occupied (334 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Mountain Iron shows an unemployment rate of 3.7%, which is near the national rate of 3.7%. The poverty rate stands at 9.3%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Mountain Iron have an average one-way commute time of 15.6 minutes, one of the shorter commutes in the region.
Education & Demographics
22.9% of Mountain Iron 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 0.0% White, 1.7% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 1.3% of the population being foreign-born.
Cost of Living in Mountain Iron, MN
Compared to national averages, Mountain Iron has a median household income of $81,607 (9% above the national median of $75,149). Home values average $180,700, which is 26% below the national median. Monthly rent at $911 is 22% below the US average of $1,163. Within Minnesota, Mountain Iron's income is 10% above the state average of $74,221, and home values are 12% below the state median of $204,472.
Why Live in Mountain Iron, MN?
Mountain Iron offers a strong local economy with a median household income of $81,607, well above the national average, and affordable housing with a median home value of $180,700, below the US average of $244,900, and rent that’s lower than the national average at $911/month. Additionally, the city features a low poverty rate of 9.3%, better than the national average, and short commute times averaging just 15.6 minutes.
Mountain Iron has a population of 2,865 with a median age of 49.5 years. Compare Mountain Iron with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near Mountain Iron
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Dodge Center | 2,864 | $77,552 | $175,900 | Compare |
| Greenfield | 2,897 | $147,184 | $524,300 | Compare |
| Caledonia | 2,825 | $69,792 | $148,500 | Compare |
| Albany | 2,800 | $75,417 | $226,000 | Compare |
| Afton | 2,944 | $129,956 | $655,400 | Compare |
| Cokato | 2,780 | $71,090 | $216,100 | Compare |
| Barnesville | 2,757 | $83,333 | $218,300 | Compare |
| Roseau | 2,728 | $60,185 | $130,000 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Minnesota
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Mountain Iron With Other Cities
Frequently Asked Questions about Mountain Iron
What is the population of Mountain Iron, MN?
The population of Mountain Iron, MN is 2,865 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Minnesota.
What is the median household income in Mountain Iron?
The median household income in Mountain Iron, MN is $81,607 per year, which is 9% above the national median of $75,149.
What is the median home value in Mountain Iron?
The median home value in Mountain Iron, MN is $180,700, which is 26% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Mountain Iron?
The median monthly rent in Mountain Iron, MN is $911, which is 22% below the national average of $1,163/month.
What is the unemployment rate in Mountain Iron?
The unemployment rate in Mountain Iron, MN is 3.7%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Mountain Iron, MN a good place to live?
Mountain Iron offers above-average incomes, affordable housing, and growing employment opportunities. With a population of 2,865 and a median age of 49.5, the city appeals to established professionals and retirees.
How educated is Mountain Iron, MN?
22.9% of residents in Mountain Iron 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 Mountain Iron?
Key cost-of-living indicators for Mountain Iron, MN: median home value is $180,700 (26% below national), median rent is $911/month, and median household income is $81,607. The home-value-to-income ratio is 2.2x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Mountain Iron?
The poverty rate in Mountain Iron, MN is 9.3%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Mountain Iron, MN?
Mountain Iron's population is 0.0% White, 1.7% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.2% two or more races. 1.3% of residents are foreign-born.