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City · 7,518 residents · Dickinson County, Michigan

Iron Mountain , Michigan

In Iron Mountain, a typical home is worth $141,600 and typical rent is $744 a month. Compared with all of Dickinson County, typical household income is 9% lower, the typical home value is 8% lower, and the share of households that own their home is 10 points lower.

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  • Typical home value

    $141,600

    8% below the county

    39% below Michigan

    • Iron Mountain
    • Dickinson
    • Michigan

  • Typical rent

    $744a month

    7% below the county

    34% below Michigan

    • Iron Mountain
    • Dickinson
    • Michigan

  • Typical household income

    $59,405a year

    9% below the county

    18% below Michigan

    • Iron Mountain
    • Dickinson
    • Michigan

  • Households that own their home

    72%

    10 points below the county

    1 points below Michigan

    • Iron Mountain
    • Dickinson
    • Michigan

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$193,373
6.1% more than 12 months ago

From Zillow (ZHVI), September 2026. The Census figures above are 5-year averages (2020–2024).

Iron Mountain is in Dickinson County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Dickinson County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Iron Mountain apart

What this place has that others do not, from public data, most unusual first.

  1. Iron Mountain has the 8th lowest typical rent of the 175 cities in Michigan with more than 5,000 people ($744).

  2. Nearby, in Menominee, the typical home value is $104,400: 26% less than in Iron Mountain ($141,600).

  3. 72% of households in Iron Mountain own their home, against 82% in Dickinson County.

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Iron Mountain

What homes there are in Iron Mountain, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

The detached house is still the most common home in Iron Mountain, but it weighs less than in Dickinson County: 80% against 84%.

Year built

In Iron Mountain, half of the homes were built before 1953; in Dickinson County, before 1970.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes
Monthly rent with utilities

With a mortgage

$1,100 a month

Dickinson County: $1,126 a month

Without a mortgage

$486 a month

Dickinson County: $473 a month

Owners with a mortgage

54%

Dickinson County: 50%

The typical cost for an owner with a mortgage in Iron Mountain is $1,100 a month, near the figure in Dickinson County ($1,126).

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

Since 2015–2019, homes in Iron Mountain gained value faster than in Dickinson County: 65% against 51%.

Rent in Iron Mountain moved so little since 2015–2019 that the Census cannot say whether it rose or fell.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureIron MountainDickinson CountyMichiganUnited States
Rental vacancy Unreliable estimateUnreliable estimate5.1%5.5%
Homeowner vacancy Unreliable estimateUnreliable estimate0.8%0.9%
More than one person per room Unreliable estimateUnreliable estimate1.6%3.4%
People per household 2.062.152.422.53
Drive alone 70%77%74%69%
Carpool 10%8%8%9%
Public transit 1%Unreliable estimate1%3%
Walk or bike Unreliable estimateUnreliable estimate2%3%
Work from home Unreliable estimate9%14%15%
Other means Unreliable estimateUnreliable estimate1%2%
Typical commute Unreliable estimate10 to 19 minutes20 to 29 minutes20 to 29 minutes

Much as in Dickinson County, a household in Iron Mountain has 2.06 people on average.

To get to work, 70% of workers in Iron Mountain drive alone; in Dickinson County, 77%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Iron Mountain?

A typical home is within reach of the typical income

We start with a typical home in Iron Mountain, worth $141,600, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 25% of the typical household income in Iron Mountain, which is $59,405 a year.

The calculator's FHA and conventional loan limits are those of all of Dickinson County.

Your numbers

Local data
$

Starts at the typical home value in Iron Mountain. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $4,956 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$1,235

at 7.18% · 30 years

Loan amount
$139,035
Total interest
$200,039
Paid off in
November 2056

Includes $2,391 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,386 a month

    Your payment · 25%

  • Tight

    $1,386 to $1,782 a month

  • Hard

    more than $1,782 a month

Compared with the typical household income in Iron Mountain ($59,405 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$1,235
Principal & interest$942
Property tax$171
Home insurance$59
FHA mortgage insurance (MIP)$63

You need at least $4,956 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Iron Mountain and Dickinson County

Iron Mountain is in Dickinson County, Michigan. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Iron Mountain's own numbers

Typical home value
$141,600
Typical monthly rent
$744
Typical yearly household income
$59,405
Households that own their home
72%
Effective property tax rate
1.45%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Dickinson County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,014
Price change over 5 years (FHFA)
+63%
Homes in a high flood-risk zone
1.8%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Dickinson County.

Everything about Dickinson County

Buying

Buying a home in Iron Mountain

A typical home in Iron Mountain is worth $141,600: 8% below the county and 39% below Michigan. With the typical household income in Iron Mountain ($59,405 a year), a typical home costs 2.4 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Iron Mountain 2.4 years
  • Dickinson 2.4 years
  • Michigan 3.2 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Dickinson County

According to FHFA’s house price index, home prices in Dickinson County rose 89% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Dickinson County.

Period County Michigan U.S.
Last year (2025) +5.2% +4.7% +2.9%
5 years (2020–2025) +63% +52% +47%
10 years (2015–2025) +89% +97% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Iron Mountain next to Dickinson County, Michigan and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Iron Mountain $141,600
  • Dickinson $153,300
  • Michigan $231,600
  • United States $332,700
Typical monthly rent
  • Iron Mountain $744
  • Dickinson $797
  • Michigan $1,129
  • United States $1,413
Typical yearly household income
  • Iron Mountain $59,405
  • Dickinson $65,156
  • Michigan $72,875
  • United States $80,734
See the full table
Iron Mountain next to Dickinson County and Michigan
Measure Iron Mountain Dickinson County Michigan U.S.
Typical home value $141,600 $153,300 $231,600 $332,700
Typical monthly rent $744 $797 $1,129 $1,413
Typical yearly household income $59,405 $65,156 $72,875 $80,734
Households that own their home 72% 82% 73% 65%
Typical yearly property tax $2,060 $1,940 $2,904 $3,119
Effective property tax rate 1.45% 1.27% 1.25% 0.94%
Renters with high rent for their income 45% 49% 50% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Dickinson County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Iron Mountain

For a typical $141,600 home in Iron Mountain, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Iron Mountain's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $1,235a month

    Least cash to close
    Down payment
    $4,956
    Cash to close
    $9,204
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $63

  • Conventional, 5% down $1,209a month

    Down payment
    $7,080
    Cash to close
    $11,328
    Rate
    7.18%
    Mortgage insurance
    PMI · $67

  • Conventional, 20% down, no PMI $997a month

    Down payment
    $28,320
    Cash to close
    $32,568
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $1,128a month

    Down payment
    $21,240
    Cash to close
    $25,488
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Iron Mountain and for Dickinson County.

Property tax

Effective rate in Iron Mountain

1.45%of the home’s value each year

$2,060 a year for the typical owner in Iron Mountain.

  • Iron Mountain 1.45%
  • Dickinson 1.27%
  • Michigan 1.25%

What Michigan publishes Principal Residence Exemption (PRE) from school operating tax (Michigan Legislature (Michigan Compiled Laws))

Exemptions and deadlines in Michigan

Flood risk in Dickinson County

FEMA does not publish these numbers by city: they are for all of Dickinson County.

Homes in the high-risk zone
1.8%
233
Of those, with NFIP insurance
9%
County Michigan U.S.
Homes in the high-risk zone 1.8% 1.6% 3.5%
Of those, with NFIP insurance 9% 18% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Iron Mountain

Typical rent in Iron Mountain is $744 a month: 7% below the county. In Iron Mountain, 45% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Dickinson County, by unit size. To pay the 2-bedroom one ($1,014 a month) without spending more than 30% of your income, you would need to earn $19.50 an hour working full time.

HUD fair market rent for all of Dickinson County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $723 $13.90 $28,920
1 bedroom $879 $16.90 $35,160
2 bedrooms $1,014 $19.50 $40,560
3 bedrooms $1,258 $24.19 $50,320
4 bedrooms $1,469 $28.25 $58,760

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Iron Mountain

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Iron Mountain is in ZIP code 49801.

For 2 bedrooms it is $1,010: $4 less than the fair market rent for Dickinson County ($1,014).

  • 49801 $1,010$1,260

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Iron Mountain when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Iron Mountain

HUD lists one building with rents for lower incomes in Iron Mountain.

  • Hulst Manor 301 Madison St, Iron Mountain 49801 102 homes, 99 low-income · Run by Iron Mountain Housing Commission · Average payment: $385 a month · Homes at several sites (906) 774-2685

See all 7 buildings in Dickinson County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Iron Mountain

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

We found no HUD-approved agencies with an office in Dickinson County. The nearest ones are below; many serve by phone or online.

A pregnant woman reads paperwork on the sofa while the grandmother plays with the girl on the floor.

HUD counseling is free or low-cost

Assistance programs in Iron Mountain

No down payment, repair or rent-help program on our list is for Iron Mountain or Dickinson County. The ones below are statewide in Michigan: they work in Iron Mountain the same as in the rest of the state.

Which programs do I qualify for? All programs in Michigan

  • MI 10K DPA Loan

    Statewide in Michigan

    Michigan state agency loan of up to $10,000, with no interest and no monthly payments, for the down payment, closing costs and prepaid expenses; it goes with MSHDA's MI Home Loan mortgage and is repaid in certain cases, such as when you pay off the first mortgage, sell or refinance the home, or no longer live in it. Offered by Michigan State Housing Development Authority (MSHDA).

    Deferred

    See the program Official page

  • Mortgage Credit Certificate (MCC)

    Statewide in Michigan

    Michigan state authority certificate that lets you take 20% of the interest you pay each year on your mortgage off your federal taxes, for the life of the loan; you apply with an approved lender before you buy. Offered by Michigan State Housing Development Authority (MSHDA).

    Tax credit

    See the program Official page

Housing counselors near Iron Mountain

The HUD-approved agencies closest to the center of Iron Mountain, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Legal Services of Northern Michigan, Inc.

    504 Ludington St, Escanaba · 49 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 8 more
    906-786-2303-3

  • Northwest Michigan Community Action Agency, Inc

    3963 3 Mile Rd N, Traverse City · 143 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 9 more
    (231) 947-3780

  • Northern Homes Community Development Corporation

    900 Emmet St, Petoskey · 153 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 5 more
    (231) 582-6244

All counseling agencies in Michigan

Help in Spanish near Iron Mountain

None of the 3 agencies on this list say they serve in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Iron Mountain

HUD’s record names them for Iron Mountain or Dickinson County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

One other authority has an office in Dickinson County: see the list Source: HUD

Cities

Other cities in Dickinson County

These cities are also in Dickinson County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Dickinson County Housing in Michigan

Nearby cities

The cities closest to Iron Mountain, with the typical home value.

Neighboring counties

If Dickinson County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Iron Mountain.

All guides
A couple spread mulch under the avocado trees of their family orchard, he on the tractor and she with a shovel.

Questions

Housing questions about Iron Mountain

Short answers with the numbers for Iron Mountain and all of Dickinson County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Iron Mountain?

The typical home value in Iron Mountain is $141,600, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Dickinson County it is $153,300.

How much does it cost to rent in Iron Mountain?

Typical rent in Iron Mountain is $744 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Dickinson County is $1,014.

What is the FHA loan limit in Iron Mountain?

Iron Mountain uses the FHA limit for all of Dickinson County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Iron Mountain?

The typical homeowner in Iron Mountain pays $2,060 a year, according to the U.S. Census Bureau. That is 1.45% of the home’s value; in Dickinson County, the rate is 1.27%.

Where can I find free help to buy or rent in Iron Mountain?

We found no HUD-approved counseling agencies with an office in Dickinson County; the nearest ones are on this page. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).