Ironwood, MI Cost Of Living
Cost Of Living In Ironwood, MI Summary
Cost of living in Ironwood research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Ironwood is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Michigan, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Ironwood is 76, with 100 being the average.
The cost of living index in Ironwood is 0.8x lower than the national average.
Ironwood ranks as the #1 cheapest in Michigan out of 180.
Ironwood ranks as the #19 cheapest out of 6,489 in the US.
The median home value in Ironwood is $102,351.
The median income in Ironwood is $37,191.
Table Of Contents
Ironwood's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Ironwood, MI?
According to the most recent data on the cost of living, Ironwood has an overall cost of living index of 76, which is 0.8x lower than the national index of 100.
Compared to Michigan, Ironwood has a cost of living index that's 0.8x lower than Michigan's index of 90.
The standard of living in Ironwood ranks as #1 most affordable out of the 180 places we measured in Michigan. By definition, that implies Ironwood ranks as the #179 most expensive place in the Wolverine State.
For more reading on life in Ironwood, check out:
In Michigan
In America
Ironwood Cost Of Living Vs. Michigan
Six factors go into calculating the cost of living index in Ironwood. Here is how it fairs on each of the criteria:
The Services index in Ironwood is 84.
The Groceries index in Ironwood is 98.
The Health index in Ironwood is 127.
The Housing index in Ironwood is 32.
The Transportation index in Ironwood is 90.
The Utilities index in Ironwood is 96.
| Living Expense | Ironwood | Michigan | National Average | |
|---|---|---|---|---|
| Overall | 76 | 90 | 100 | |
| Services | 84 | 93 | 100 | |
| Groceries | 98 | 97 | 100 | |
| Health | 127 | 91 | 100 | |
| Housing | 32 | 72 | 100 | |
| Transportation | 90 | 96 | 100 | |
| Utilities | 96 | 99 | 100 | |
Ironwood, 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 2019-2023. The key points are:
The Median Home Value in Ironwood is $102,351.
The Median Rent in Ironwood is $555.
The Median Income in Ironwood is $37,191.
The Home Value To Income in Ironwood is 2.8x.
The Rent To Monthly Income in Ironwood is 0.18x.
Median Home Value
Median Rent
Median Income
Ironwood, MI Costs By Category
Detailed Ironwood Services Costs Vs. Michigan
Detailed Ironwood Groceries Costs Vs. Michigan
Detailed Ironwood Health Costs Vs. Michigan
Detailed Ironwood Transportation Costs Vs. Michigan
Detailed Ironwood Utilities Costs Vs. Michigan
Ironwood SnackAbility
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Cost Of Living In Cities Around Ironwood
The cost of living varies in the cities and towns around Ironwood. Here's a quick look at the cost of living in the most populous nearby places:
Ashland, WI has a cost of living index of 91, 1.2x Ironwood.
| City | Population | Cost Of Living | Vs. Ironwood |
|---|---|---|---|
| Ashland, WI | 7,884 | 91 | 1.2x |
