Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$153,417+12.3% YoY · prices are rising fast
Market right nowSeller's marketFewer homes for sale than last year, 17% have cut their price
Income needed to buy, per year$33,258About 0.6× the local median income ($53,519): affordable for a typical household
Days on market76 daysSlower than a year ago: buyers have time to negotiate
The typical home in Iron County, MI is worth $153,417, up 12.3% from a year ago. That is well above what local incomes have historically supported: fair value is about $127,479, so the area is 20.3% overvalued. It is a seller's market: homes take about 76 days to sell, listings are down 1% from a year ago, 17% of listings have had a price cut. A household needs about $33,258 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $53,519. In the latest IRS figures, 13 more people moved out than in.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$153,417
Change in 1 year
+12.3%
Overvalued %
+20.3%
Show 6 more
Fair home value
$127,479
Change in 5 years
+40.5%
Home value to income
2.9×
Monthly mortgage payment (20% down)
$831
Income needed to afford it
$33,258
Property tax rate
1.34%
Rent and investing
HUD Fair Market Rent, 2 bedrooms
$1,132
Market activity
Listings vs a year ago
−1.1%
Days on market
76
Listings with a price cut
17.1%
Show 3 more
Homes for sale
89
Pending sales per 100 listings
27
Asking price per sq ft
$172
People and jobs
Median household income
$53,519
Population change (1 year)
−0.1%
Unemployment rate
5.3%
Show 4 more
Population
11,757
Income adjusted for cost of living
$60,134
Net moves in (IRS)
−13
Cost of living (US = 100)
89.0
Schools, risk and environment
School rating (1 to 10)
5.7
FEMA hazard risk score (0 to 100)
55.1
Flood risk score
25.7
Show 3 more
Wildfire risk score
43.3
Walkability (1 to 20)
6.1
Road, rail and air noise
54 dB
Questions people ask
Is Iron County, MI overvalued?
Home prices in Iron County, MI are well above what local incomes have historically supported: fair value is about $127,479, so the area is 20.3% overvalued.
Is Iron County, MI a buyer's or seller's market?
Iron County, MI is a seller's market: homes take about 76 days to sell, listings are down 1% from a year ago, 17% of listings have had a price cut.
Are home prices going down in Iron County, MI?
Home values in Iron County, MI are up 12.3% over the last year.
How much do you need to earn to buy a home in Iron County, MI?
A household needs about $33,258 a year to afford the typical home in Iron County, MI at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $53,519.