What is the cost of living in Iron Mountain, MI?
According to the most recent data on the cost of living, Iron Mountain has an overall cost of living index of 84, which is 0.8x lower than the national index of 100.
Compared to Michigan, Iron Mountain has a cost of living index that's 0.9x lower than Michigan's index of 91.
The standard of living in Iron Mountain ranks as #26 most affordable out of the 179 places we measured in Michigan. By definition, that implies Iron Mountain ranks as the #153 most expensive place in the Wolverine State.
For more reading on life in Iron Mountain, check out:
Iron Mountain Cost Of Living Vs. Michigan
Six factors go into calculating the cost of living index in Iron Mountain. Here is how it fares on each of the criteria:
The Services index in Iron Mountain is 98.
The Groceries index in Iron Mountain is 95.
The Health index in Iron Mountain is 59.
The Housing index in Iron Mountain is 98.
The Transportation index in Iron Mountain is 100.
The Utilities index in Iron Mountain is 96.
| Living Expense | Iron Mountain | Michigan | National Average |
|---|---|---|---|
| Overall | 84 | 91 | 100 |
| Services | 98 | 97 | 100 |
| Groceries | 95 | 98 | 100 |
| Health | 59 | 75 | 100 |
| Housing | 98 | 98 | 100 |
| Transportation | 100 | 101 | 100 |
| Utilities | 96 | 98 | 100 |
Iron Mountain Cost Of Living Compared To Michigan Averages
Index where 100 = national average. Source: cost-of-living index 2026.
For more reading on cost of living around Michigan, check out:
Protect your home budget Compare home warranties in Iron Mountain Get matched →Source: Cost-of-living index 2026, normalized to US average = 100
Iron Mountain, MI Housing Cost Breakdown
Housing swings affordability the most between places in Michigan, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2020-2024. The key points are:
The Median Home Value in Iron Mountain is $182,104.
The Median Rent in Iron Mountain is $744.
The Median Income in Iron Mountain is $59,405.
The Home Value To Income in Iron Mountain is 3.1x.
The Rent To Monthly Income in Iron Mountain is 0.15x.
| Statistic | Iron Mountain | Michigan | United States |
|---|---|---|---|
| Median Home Value | $182,104 | $259,857 | $332,700 |
| Median Rent | $744 | $1,129 | $1,413 |
| Median Income | $59,405 | $72,875 | $80,734 |
| Home Value To Income | 3.1x | 3.6x | 4.1x |
| Rent To Monthly Income | 0.15x | 0.19x | 0.21x |
Iron Mountain, MI Costs By Category
Detailed Iron Mountain Services costs vs. Michigan
| Item | Iron Mountain | Michigan |
|---|---|---|
| Shampoo | $1.29 | $1.28 |
| Movie | $14.24 | $12.13 |
| Bowling | $17.83 | $18 |
| Haircut | $20.11 | $24.26 |
| Beauty Salon | $30.55 | $45.56 |
Detailed Iron Mountain Groceries costs vs. Michigan
| Item | Iron Mountain | Michigan |
|---|---|---|
| Ground Beef | $6.1 | $5.84 |
| Fried Chicken | $1.42 | $1.57 |
| Milk | $4.73 | $4.67 |
| Potatoes | $4.35 | $4.93 |
| Pizza | $10.54 | $12.09 |
| Beer | $8.87 | $10.41 |
| Toothpaste | $3.73 | $3.7 |
Detailed Iron Mountain Health costs vs. Michigan
| Item | Iron Mountain | Michigan |
|---|---|---|
| Optometrist | $78.75 | $125.68 |
| Doctor | $157.9 | $135.78 |
| Dentist | $104.06 | $113.29 |
Detailed Iron Mountain Transportation costs vs. Michigan
| Item | Iron Mountain | Michigan |
|---|---|---|
| Gasoline | $3.32 | $3.46 |
| Tire Balancing | $63.04 | $59.92 |
Detailed Iron Mountain Utilities costs vs. Michigan
| Item | Iron Mountain | Michigan |
|---|---|---|
| All Electricity | $191.22 | $193.99 |
| Phone | $185.4 | $192.25 |
Iron Mountain SnackAbility
Cost Of Living In Cities Around Iron Mountain
The cost of living varies in the cities and towns around Iron Mountain. Here's a quick look at the cost of living in the most populous nearby places:
Escanaba, MI has a cost of living index of 83, 1.0x Iron Mountain.
Ishpeming, MI has a cost of living index of 83, 1.0x Iron Mountain.
| City | Population | Cost Of Living | Vs. Iron Mountain |
|---|---|---|---|
| Escanaba, MI | 12,354 | 83 | 1.0x |
| Ishpeming, MI | 6,181 | 83 | 1.0x |
