Iron Mountain Michigan Area Home Supply Charts

This page looks at a variety of Iron Mountain Michigan housing market data taken from the most recent 2021 American Community Survey census data. Housing units are structures such as a single family home, apartment community, mobile home park, public housing, etc. where a person or family live and live separately from other residents of the building. Figure 1 shows the total number of housing units for each city. Iron Mountain depicts it has a Housing Units of 3,532 which is more than all other places in the greater Iron Mountain region.

Figure 2 illustrates the housing density in the Iron Mountain housing market as measured by housing units per square land mile (includes single family homes, apartments, etc.) Iron Mountain shows it has a Housing Density of 479.4 which is the second most of all the places in the greater region. The city with the highest housing density in the area is Kingsford which depicts a density of 563.4 (17.5% larger). Comparing housing density to the United States average of 39.2, Iron Mountain is substantially bigger. Also, compared with the state of Michigan, housing density of 81.8, Iron Mountain is very much bigger.

In Figure 4, Iron Mountain area change in the number of housing units and is a forward gauge (along with population change) for any potential housing shortage. Iron Mountain depicts it has a Housing Unit Change of -6.7% which is the smallest in order of change in the housing units of all the other places in the metropolitan area. The city with the highest change in the housing units in the area is Pembine CDP which shows a housing units of 55.0% ( substantially bigger). Comparing change in the housing units to the United States average of 6.5%, Iron Mountain is only about 3.2% larger. Also, in comparison with the state of Michigan, change in the housing units of 1.8%, Iron Mountain is approximately 3.8 times bigger.

Figure 5 shows the percentage of rental property based on that they are occupied by renters as a percent of the total number of households in the community (including homes, apartments, etc.) Iron Mountain indicates it has a Renter Percent of 31.2% which is the third most renter percent of all other places in the greater Iron Mountain region. Figure 6 illustrates the total number of housing units that are occupied by owners. it has a Owner Percent of 68.8% which is less than most other places in the surrounding region.

Iron Mountain Michigan Home Cost Charts

Looking at the housing data provided in Figure 7, the average Iron Mountain home price is illustrated for this community and a useful analysis of affordable housing. Iron Mountain depicts it has a Median Home Value of $96,100 which is the second most median home prices of all the places in the greater Iron Mountain region. The city with the highest median home price in the area is Quinnesec CDP which depicts a home price of $103,100 (7.3% larger). Figure 8 provides aggregate comparative data for the Iron Mountain Michigan metro area in terms of the median housing rental rate, apartment rent, etc. Iron Mountain shows it has a Median Gross Rent of $643 which is the third most of all other places in the local area. The city with the highest rental rates in the area is Niagara which depicts a rental rates of $784 (21.9% larger). Comparing rental rates to the United States average of $1,096, Iron Mountain is approximately half the size. Also, compared with the state of Michigan, rental rates of $892, Iron Mountain is approximately three-fourths the size.

Figure 9 provides the frequency distribution of home prices for the area and is useful for understanding affordable housing fund. Iron Mountain has one of the largest proportions of home price worth less than $50,000 at 41% of the total and is ranked #3. Only #2 Kingsford (45%), and #1 Florence CDP (49%) are larger. Second, it has the largest proportion of home price worth between $200,000 to $300,000 at 4% of the total and is ranked #1. Third, it has the largest proportion of home price worth between $300,000 to $400,000 at 3% of the total and is ranked #1.

Median owner costs for the real estate market are shown in Figure 10 and include the costs associated with any mortgage, utility expenses, insurance, and other miscellaneous costs. Iron Mountain depicts it has a Median Owner Cost of $823 which is is the uppermost of the places in the local area. Figure 11 shows the median amount of cost as a percent of total household income for people who own homes in the Iron Mountain metro area. it has a Owner Cost as % of HH Income of 16% which is ranked #1 of all places in the greater Iron Mountain region.

The next chart, Figure 12, provides a comparison chart of the median home cost as a percent of a median worker take home earnings and is thus a valuable measure of affordable housing. Iron Mountain depicts it has a Median Home Value as Percent of Median Earnings of 227% which is the largest of all places in the greater Iron Mountain region.

Figure 14 depicts the median cost of housing for owners with also have a mortgages (versus those who do not have a mortgage because mortgage cost is included.) Iron Mountain shows it has a Median Owner Costs-With Mortgage of $936 which is the third most median housing cost of all other places in the greater Iron Mountain region. Figure 15 is a chart that shows the median housing costs for owners who do not have mortgages (and therefore the cost of home ownership does not include mortgage cost.) it has a Median Owner Costs-Without Mortgage of $455 which is the second most of all the places in the metro area.

Figure 16 shows the distribution in total housing cost for owners of property (so not renters.) This cost includes mortgages, lines of credit interest, utilities, taxes, insurance, etc. Iron Mountain has the percentage of owner cost less than $300 the second smallest when ranked by owner cost less than $300 of all the other places in the metro area at 23% of the total. Second, it has the second smallest when ranked by owner cost less than $300 of all the other places in the metropolitan area when sorted by owner cost between $300 and $500 at 15% of the total. Third, it has the largest proportion of owner cost between $500 and $700 at 30% of the total and is ranked #1. Also, it has the largest proportion of owner cost between $2,500 and $3,000 at 1% of the total and is ranked #1.

Next shown in Figure 17 is the housing cost as a percent of household income for people who own their homes and have a mortgages (thus the cost of financing the home is included.) Iron Mountain shows it has a % of Income Owner Costs-With Mortgage of 18% which is the largest of all places in the greater Iron Mountain region. Housing cost as a percent of household income for owners who do not have a mortgage is shown in Figure 18. This analysis can be useful for understanding the affordable housing for home ownership excluding any financing cost in the area shown. Iron Mountain depicts it has a % of Income Owner Costs-No Mortgage of 14% which is the third most cost as a percent of household income of all other places in the greater Iron Mountain region. The city with the highest cost as a percent of household income in the area is Norway which shows a cost as a percent of household income of 16% (19.7% larger).

Figure 19 looks at the cost of rent for rental property using the percent of total household income which is a valuable measure of financial health for the area. (The higher the proportion of rent payments to total household income is a sign of greater financial stress. Also, rent can be covered by rent assistance and rent assistance programs in the form of rent assistance.) Iron Mountain has one of the largest proportions of rent as a percent of income is less than 10 pct at 26% of the total and is ranked #3. Only #2 Kingsford (32%), and #1 Florence CDP (33%) are larger. Second, it has less than most other places in the local area when sorted by rent as a percent of income is between 10pct to 20pct at 14% of the total. Third, it has one of the largest proportions of rent as a percent of income is between 30pct to 40pct at 10% of the total and is ranked #3. Only #2 Norway (18%), and #1 Quinnesec CDP (54%) are larger. Also, it has one of the largest proportions of rent as a percent of income is between 40pct to 50pct at 22% of the total and is ranked #2. The only larger city being Kingsford with 33%.

Figure 20 shows the total housing cost for both home owners and apartment community renters in the area. Iron Mountain has the largest proportion of housing cost between $500 and $700 at 27% of the total and is ranked #1. Second, it has the largest proportion of housing cost between $1,000 and $1,500 at 5% of the total and is ranked #1. Third, it has the largest proportion of housing cost between $1,500 and $2,000 at 2% of the total and is ranked #1.

Figure 21 shows median amount of real estate taxes paid for home owners in the region. it has a Median Real Estate Taxes Paid of $1,941 which is the highest of all places in the greater Iron Mountain region. Comparing median real estate taxes paid to the United States average of $2,551, Iron Mountain is approximately three-fourths the size. Also, measured against the state of Michigan, median real estate taxes paid of $2,441, Iron Mountain is approximately three-fourths the size.

Figure 23 shows the rental rate distribution for this area. Iron Mountain Michigan has the largest proportion of rent less than 300 dollars at 14% of the total and is ranked #1. Second, it has the largest proportion of rent between 300 and 500 dollars at 59% of the total and is ranked #1. Third, it has less than most other places in the area in terms of rent between 500 and 750 dollars at 10% of the total. Also, it has the largest proportion of rent between 1000 and 1500 dollars at 6% of the total and is ranked #1.

Iron Mountain Michigan Home Financing Charts

The analysis in Figure 25 shows the detailed distribution of owned homes by mortgage status. Iron Mountain has one of the largest proportions of With mortgage at 58% of the total and is ranked #2. The only larger city being Norway with 63%. Second, it has the second smallest when ranked by With Mortgage of all the other places in the local area in order of With HELOC no Primary Mortgage at 37% of the total.

Figure 26 shows the proportion of houses with a mortgage versus those without a mortgage. Iron Mountain has the percentage of houses with mortgages the second smallest when ranked by houses with a mortgage of all the other places in the metropolitan area at 37% of the total.

Iron Mountain Michigan Home Characteristics Charts

Figure 28 shows the household size for families living in the area and it has a Family size of 2.7 which is ranked #1 of all places in the greater Iron Mountain region. Comparing family members per housing unit to the United States average of 3.3, Iron Mountain is about 21.1% smaller. Also, measured against the state of Michigan, family members per housing unit of 3.1, Iron Mountain is about 14.9% smaller.

Figure 29 show the median number of rooms in a typical home for each location in this area. it has a Median Number of Rooms of 5.8 which is the third most average number of rooms in a house of all other places in the greater Iron Mountain region. The city with the highest average number of rooms in a house in the area is Quinnesec CDP which shows an average number of rooms in a house of 5.9 ( only slightly larger). Figure 30 shows, for the average house in each location, the median year that a house was built. This can be useful for understanding the relative age of one neighborhood versus another for a real estate investor. it has a Median Year Built of 1952 which is the second smallest when ranked by year built of all the other places in the local area. The city with the highest year built in the area is Pembine CDP which shows a year built of 1993 ( only slightly larger).

Figure 31 looks at the distribution of housing units by the median age that the homes were built. it has one of the largest proportions of homes built between 2000 to 2009 at 7% of the total and is ranked #3. Only #2 Norway (18%), and #1 Pembine CDP (67%) are larger. Second, it has one of the largest proportions of homes built between 1960 to 1969 at 14% of the total and is ranked #2. The only larger city being Niagara with 20%. Third, it has one of the largest proportions of homes built between 1940 to 1949 at 38% of the total and is ranked #2. The only larger city being Florence CDP with 44%.

Figure 32 shows the difference in the number of housing units based on whether they are occupied by owners versus occupied by renters. it has the largest proportion of owner housing units at 1,014 of the total and is ranked #1.

Figure 33 shows the difference in the number of housing units based on whether they are occupied by owners or renters. it has one of the largest proportions of one unit attached at 8% of the total and is ranked #3. Only #2 Florence CDP (17%), and #1 Pembine CDP (62%) are larger. Second, it has the largest proportion of 3 or 4 units at 5% of the total and is ranked #1.

Figure 34 shows the median value of homes broken down by the median year that the homes were built. it has the largest proportion of value of homes built 2010 to 2013 at $312,500 of the total and is ranked #1. Second, it has the largest proportion of value of homes built 2000 to 2009 at $219,300 of the total and is ranked #1. Third, it has in the mid range of other places in the greater region in terms of value of homes built 1980 to 1989 at $115,900 of the total. Also, it has the largest proportion of value of homes built 1970 to 1979 at $228,400 of the total and is ranked #1. In addition, it has one of the largest proportions of value of homes built 1960 to 1969 at $89,000 of the total and is ranked #2. The only larger city being Kingsford with $109,700. Furthermore, it has one of the largest proportions of value of homes built 1950 to 1959 at $74,800 of the total and is ranked #2. The only larger city being Kingsford with $75,000. Next it has one of the largest proportions of value of homes built 1940 to 1949 at $80,700 of the total and is ranked #2. The only larger city being Quinnesec CDP with $95,400.

Figure 35 compares the total number of occupied housing units to vacant housing units. This analysis can be used to understand any housing shortage in the community. has the percentage of occupied housing units less than most other places in the greater region at 8% of the total.

The next two charts show both the average household size of homeowners versus the average household size of renters. Starting with Figure 36 we see the household size of homeowners for Iron Mountain residents. it has a Owner-Household Size of 2.4 which is the second most homeowner household size of all the places in the greater Iron Mountain region. The city with the highest homeowner household size in the area is Pembine CDP which depicts a homeowner household size of 3.1 (30.4% larger).

Figure 37 shows the household size for renters. Iron Mountain depicts it has a Renter-Household Size of 1.8 which is the second most of all the places in the metro area. The city with the highest renter household size in the area is Niagara which depicts a renter household sizes of 2.1 (17.0% larger). Figure 38 shows the year that people who own homes moved into this region. has the percentage of owners moved in 2019 or later less than most other places in the local area at 12% of the total. Second, it has one of the largest proportions of owners moved in 2000 to 2009 at 17% of the total and is ranked #2. The only larger city being Florence CDP with 24%. Figure 39 shows the year that people who rent moved into the area. Iron Mountain has the percentage of renters moved in 2019 or later in the center range of other places in the local area at 45% of the total. Second, it has the largest proportion of renters moved in 2015 to 2018 at 42% of the total and is ranked #1. Third, it has the second smallest in order of renters moved in 2019 or later of all the other places in the metro area when sorted by renters moved in 2010 to 2014 at 4% of the total.

Figure 40 compares the median year that home owners moved into their home. it has a Owner Median Year Moved In of 2003 which is less than most other places in the greater region. Figure 41 compares the median year that renters moved into their home. Iron Mountain shows it has a Renter Median Year Moved In of 2015 which is the second most median year that a renter moved in of all the places in the greater Iron Mountain region.

Figure 42 shows the frequency distribution of various types of energy sources used for homes in the community. it has the largest proportion of home using bottled, tank, or lp gas at 10% of the total and is ranked #1. Second, it has the second smallest in order of homes using natural gas of all the other places in the greater region when ranked by homes using coal or coke at 1% of the total. Third, it has the largest proportion of homes using solar energy at 1% of the total and is ranked #1.

The next two charts show the number of people living in group quarters and includes temporary as well permanent housing which may be run by the Iron Mountain housing department, Michigan department, or other housing authority or public housing agency. beginning with Figure 43 which shows the total number of people. Iron Mountain shows it has a Total In Group Quarters of 186 which is the largest of all places in the greater Iron Mountain region.

Figure 44 shows the percentage of people who are living in group quarters to the total population for Iron Mountain residents (these may include colleges and jails but also community centers for homelessness or that require a housing choice voucher which are run by certain nonprofits or an affordable housing department.) Iron Mountain has the percentage of number of people under 18 years of age and in group quarters in the middle range of other places in the metro area at 98% of the total.