Iron River, WI
Population 752 · Wisconsin
About Iron River, WI
Iron River is a small community located in Wisconsin with a population of 752 residents according to the latest US Census Bureau American Community Survey data. The median household income is $55,294 per year, which is 26% below the national median of $75,149. The median age of 55.2 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 River features a median home value of $152,100, which is 38% below the national median of $244,900. This positions Iron River in a moderately priced market relative to the rest of the country. Median monthly rent is $653, 44% below the national average of $1,163/month. Of the 473 total housing units, 72% are owner-occupied (268 units) and 28% are renter-occupied (104 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Iron River shows an unemployment rate of 2.4%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 9.1%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Iron River have an average one-way commute time of 33.5 minutes.
Education & Demographics
24.8% of Iron River residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 0.0% White, 8.2% Hispanic or Latino, 1.5% Black or African American, and 1.6% Asian residents, with 0.1% of the population being foreign-born.
Cost of Living in Iron River, WI
Compared to national averages, Iron River has a median household income of $55,294 (26% below the national median of $75,149). Home values average $152,100, which is 38% below the national median. Monthly rent at $653 is 44% below the US average of $1,163. Within Wisconsin, Iron River's income is 24% below the state average of $72,579, and home values are 26% below the state median of $205,802.
Why Live in Iron River, WI?
Iron River offers affordable housing with a median home value of $152,100, below the US average of $244,900, and rent that’s lower than the national average at $653/month, and a strong job market with an unemployment rate of just 2.4%. Additionally, the city features a low poverty rate of 9.1%, better than the national average.
Potential considerations include median household income ($55,294) 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 752 with a median age of 55.2 years. Compare Iron River with other cities to see how it stacks up, or explore all cities in Wisconsin.
Similar Cities Near Iron River
Cities in Wisconsin with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Almena | 749 | $49,250 | $106,100 | Compare |
| Fountain City | 747 | $51,759 | $161,700 | Compare |
| La Farge | 745 | $39,200 | $111,300 | Compare |
| Lake Ivanhoe | 764 | $82,963 | $171,000 | Compare |
| Cambria | 765 | $69,375 | $149,300 | Compare |
| Eden | 766 | $68,523 | $163,800 | Compare |
| Potter Lake | 766 | $93,864 | $279,400 | Compare |
| Friendship | 737 | $46,250 | $110,100 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Wisconsin
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Iron River With Other Cities
Frequently Asked Questions about Iron River
What is the population of Iron River, WI?
The population of Iron River, WI is 752 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Wisconsin.
What is the median household income in Iron River?
The median household income in Iron River, WI is $55,294 per year, which is 26% below the national median of $75,149.
What is the median home value in Iron River?
The median home value in Iron River, WI is $152,100, which is 38% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Iron River?
The median monthly rent in Iron River, WI is $653, which is 44% below the national average of $1,163/month.
What is the unemployment rate in Iron River?
The unemployment rate in Iron River, WI is 2.4%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Iron River, WI a good place to live?
Iron River offers a moderate cost of living, affordable housing, and a strong job market. With a population of 752 and a median age of 55.2, the city appeals to established professionals and retirees.
How educated is Iron River, WI?
24.8% of residents in Iron River 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 River?
Key cost-of-living indicators for Iron River, WI: median home value is $152,100 (38% below national), median rent is $653/month, and median household income is $55,294. The home-value-to-income ratio is 2.8x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Iron River?
The poverty rate in Iron River, WI is 9.1%, 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 River, WI?
Iron River's population is 0.0% White, 8.2% Hispanic or Latino, 1.5% Black or African American, 1.6% Asian, and 0.0% two or more races. 0.1% of residents are foreign-born.