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 2020 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 shows it has a Housing Units of 3,402 which is ranked #1 of all 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 depicts it has a Housing Density of 461.7 which is the second most of all the places in the metropolitan area. The city with the highest housing density in the area is Kingsford which depicts a density of 577.0 (25.0% larger). Comparing housing density to the United States average of 38.9, Iron Mountain is substantially bigger. Also, in contrast to the state of Michigan, housing density of 81.5, Iron Mountain is substantially 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 shows it has a Housing Unit Change of -10.1% which is the second smallest as measured by change in the housing units of all the other places in the local area. The city with the highest change in the housing units in the area is Norway which depicts a housing units of 24.4% (approximately 2.4 times bigger). Comparing change in the housing units to the United States average of 5.7%, Iron Mountain is 77.6% larger. Also, in comparison with the state of Michigan, change in the housing units of 1.4%, Iron Mountain is substantially 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 depicts it has a Renter Percent of 30.1% which is in the mid point range of other places in the local area. Figure 6 illustrates the total number of housing units that are occupied by owners. it has a Owner Percent of 69.9% which is in the intermediate range of 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 $85,800 which is in the center range of other places in the local area. The city with the highest median home price in the area is Kingsford which depicts a home price of $93,000 (8.4% 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 depicts it has a Median Gross Rent of $670 which is in the mid range of other places in the metro area. The city with the highest rental rates in the area is Quinnesec CDP which depicts a rental rates of $783 (16.9% larger). Comparing rental rates to the United States average of $1,062, Iron Mountain is approximately three-fourths the size. Also, compared to the state of Michigan, rental rates of $871, 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 the largest proportion of home price worth between $200,000 to $300,000 at 5% 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 shows it has a Median Owner Cost of $752 which is the largest of all places in the greater Iron Mountain region. 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 15% which is the third most cost as a percent of household income of all other 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 172% which is the second smallest as measured by median home value as a percent of median worker earnings of all the other places in the area.

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 depicts it has a Median Owner Costs-With Mortgage of $918 which is in the mid range of other places in the metro area. 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 $444 which is more than all other places in the greater Iron Mountain region.

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 in order of owner cost less than $300 of all the other places in the metro area at 24% of the total. Second, it has less than most other places in the local area when sorted by owner cost between $300 and $500 at 17% of the total. Third, it has the largest proportion of owner cost between $500 and $700 at 27% of the total and is ranked #1. Also, it has the largest proportion of owner cost between $2,500 and $3,000 at 0% 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 depicts it has a % of Income Owner Costs-With Mortgage of 16% which is in the mid point range of other places in the greater region. The city with the highest cost as a percent of household income in the area is Niagara which depicts a cost as a percent of household income of 18% (15.1% larger). 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 13% which is the second most cost as a percent of household income of all the 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 depicts a cost as a percent of household income of 13% ( only slightly 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 28% of the total and is ranked #3. Only #2 Kingsford (33%), and #1 Quinnesec CDP (41%) are larger. Second, it has less than most other places in the greater region in order of rent as a percent of income is between 10pct to 20pct at 18% of the total. Third, it has one of the largest proportions of rent as a percent of income is between 40pct to 50pct at 25% of the total and is ranked #3. Only #2 Kingsford (34%), and #1 Pembine CDP (100%) are larger.

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 $1,500 and $2,000 at 1% 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 $1,771 which is the second most of all the places in the metro area. The city with the highest median real estate taxes paid in the area is Kingsford which depicts a taxes paid of $1,870 (only about 5.6% larger). Comparing median real estate taxes paid to the United States average of $2,471, Iron Mountain is approximately three-fourths the size. Also, benchmarked against the state of Michigan, median real estate taxes paid of $2,381, Iron Mountain is approximately three-fourths the size.

Figure 22 shows the percentage of renters who pay for utilities in Iron Mountain Michigan. This is calculated as the percent of renters who pay separately for utilities versus the people who have utilities included as part of amenities. Iron Mountain has the percentage of pay extra for utilities in the mid range of other places in the greater region at 18% of the total.

Figure 23 shows the rental rate distribution for this area. Iron Mountain Michigan has one of the largest proportions of rent less than 300 dollars at 14% of the total and is ranked #3. Only #2 Niagara (15%), and #1 Pembine CDP (100%) are larger. Second, it has the largest proportion of rent between 300 and 500 dollars at 51% of the total and is ranked #1. Third, it has less than most other places in the local area in terms of rent between 500 and 750 dollars at 11% of the total. Also, it has one of the largest proportions of rent between 750 and 1000 dollars at 10% of the total and is ranked #2. The only larger city being Niagara with 11%. In addition, 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 both 2nd mortgage and heloc at 55% of the total and is ranked #2. The only larger city being Pembine CDP with 59%. Second, it has the smallest proportion of no 2nd mortgage and no heloc at 39% of the total.

Figure 26 shows the proportion of houses with a mortgage versus those without a mortgage. Iron Mountain has the smallest proportion of houses with mortgages at 39% 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 3.0 which is the most 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 9.5% smaller. Also, in comparison with the state of Michigan, family members per housing unit of 3.2, Iron Mountain is only about 4.1% 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 5.9 which is the second most average number of rooms in a house of all the places in the greater Iron Mountain region. The city with the highest average number of rooms in a house in the area is Niagara which shows an average number of rooms in a house of 6.0 ( 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 1948 which is the second smallest when ranked by year built of all the other places in the surrounding region. The city with the highest year built in the area is Quinnesec CDP which shows a year built of 1973 ( only slightly larger).

Figure 31 looks at the distribution of housing units by the median age that the homes were built. has the percentage of homes built between 2010 to 2013 less than most other places in the metropolitan area at 2% of the total. Second, it has in the mid point range of other places in the local area as measured by homes built between 1980 to 1989 at 14% of the total. Third, it has the second smallest in terms of homes built in 2014 or later of all the other places in the local area when ranked by homes built between 1970 to 1979 at 7% of the total. Also, it has one of the largest proportions of homes built between 1940 to 1949 at 41% of the total and is ranked #2. The only larger city being Pembine CDP with 43%.

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 890 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 the largest proportion of 50 or more units at 2% 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 $325,000 of the total and is ranked #1. Second, it has the largest proportion of value of homes built 2000 to 2009 at $170,000 of the total and is ranked #1. Third, it has one of the largest proportions of value of homes built 1990 to 1999 at $151,600 of the total and is ranked #2. The only larger city being Niagara with $152,800. Also, it has less than most other places in the local area in terms of value of homes built 1980 to 1989 at $109,400 of the total. In addition, it has the largest proportion of value of homes built 1970 to 1979 at $161,600 of the total and is ranked #1. Furthermore, it has the largest proportion of value of homes built 1960 to 1969 at $93,800 of the total and is ranked #1. Next it has one of the largest proportions of value of homes built 1950 to 1959 at $64,000 of the total and is ranked #2. The only larger city being Kingsford with $73,600. Additionally, it has in the mid range of other places in the local area when sorted by value of homes built 1940 to 1949 at $67,100 of the total.

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 in the mid point range of other places in the area at 13% 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 2.6 which is the second most of all the places in the metropolitan area. The city with the highest homeowner household size in the area is Pembine CDP which shows a homeowner household size of 3.1 (19.4% larger).

Figure 37 shows the household size for renters. Iron Mountain shows it has a Renter-Household Size of 2.0 which is the second most renter household sizes of all the places in the greater Iron Mountain region. The city with the highest renter household size in the area is Niagara which shows a renter household sizes of 2.0 (only about 3.1% larger). Figure 38 shows the year that people who own homes moved into this region. has the percentage of owners moved in 2017 or later the second smallest when ranked by owners moved in 2017 or later of all the other places in the greater region at 4% of the total. Second, it has one of the largest proportions of owners moved in 2015 to 2016 at 32% of the total and is ranked #2. The only larger city being Pembine CDP with 53%. Figure 39 shows the year that people who rent moved into the area. Iron Mountain has one of the largest proportions of renters moved in 2017 or later at 35% of the total and is ranked #2. The only larger city being Pembine CDP with 100%. Second, it has one of the largest proportions of renters moved in 2015 to 2016 at 43% of the total and is ranked #3. Only #2 Norway (50%), and #1 Quinnesec CDP (58%) are larger. Third, it has the second smallest in order of renters moved in 2017 or later of all the other places in the local area when sorted by renters moved in 2010 to 2014 at 3% of the total. Also, it has the largest proportion of renters moved in 2000 to 2009 at 6% of the total and is ranked #1.

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 the third most median year that a home owner moved in of all other places in the greater Iron Mountain 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 highest of all 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. has the percentage of homes using coal or coke in the center range of other places in the local area at 2% of the total. Second, it has one of the largest proportions of homes using solar energy at 0% of the total and is ranked #3. Only #2 Kingsford (0%), and #1 Niagara (0%) are larger.

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 depicts it has a Total In Group Quarters of 191 which is the highest of all places in the metro area.

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 center range of other places in the local area at 99% of the total.