Mountain Iron, MN—55768
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Mountain Iron, MN
Home Price Trends — Mountain Iron, MN
As of Oct '25, the median home price in Mountain Iron, MN is $204,000, with a year-over-year change of 6.5%. This indicates that home prices in Mountain Iron, MN are increasing. According to Zillow, the 1-year price projection is 2.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $204,000 | 6.5% |
| Single Family | $204,000 | 7.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $171,000 | 7.5% |
3 Bed | $231,000 | 7.4% |
4 Bed | $295,000 | 5.4% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Mountain Iron, MN
Mountain Iron, MN lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | N/A | N/A |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Mountain Iron, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Mountain Iron, MN is 105. This is a increase of 29.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $332,000 | -24.0% |
Listing Count | 3 | -53.0% |
| Listings as % of Homes | 0.5% | -53.0% |
Days on Market | 105 | 29.0% |
Demographics — Mountain Iron, MN
As of the latest ACS Survey released in 2023, Mountain Iron, MN has a population of 2,790, which has decreased by -3.8% over the past 5 years. Mountain Iron, MN is a moderately popular place for families, as children make up 18.6% of the population. The area has a moderately educated workforce, with 26.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 2,790 | -3.8% |
% Under 18 | 18.6% | -7.0% |
% Seniors | 24.8% | 16.4% |
% WFH | 5.6% | 229.4% |
% w/ College Degree | 26.1% | 44.2% |
As of the latest ACS Survey released in 2023, Mountain Iron, MN is a predominantly white area, with 95.0% of the population identifying as white. The white population has shrunk by 1.0% in the last 5 years. The second most common race or ethnicity in Mountain Iron, MN is hispanic, making up 0.9% of the population. Foreign-born residents account for 0.5% of the population in Mountain Iron, MN, and this percentage has decreased by 64.3% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 95.0% | -1.0% |
% Black | 0.3% | 200.0% |
% Hispanic | 0.9% | 350.0% |
% Asian | 0.1% | -87.5% |
% Foreign Born | 0.5% | -64.3% |
Mortgage and Risk — Mountain Iron, MN
According to HUD data as of 2023, there were 27 mortgage originations in Mountain Iron, MN, of which 85.0% of loans were conventional mortgages. The average loan-to-value was 83.0%, with 37.0% above 90% LTV (very high). This implies large mortgage risk in Mountain Iron, MN. Investor activity is low, as 4.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 27 |
% Conventional Loans | 85.0% |
% Government Loans | 15.0% |
% Investor Loans | 4.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Mountain Iron, MN
Mountain Iron, MN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 117 |
Total Units Section 8 | 117 |
% Rentals under Section 8 | 42.3% |
% Occupied Section 8 | 84.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $800 |
| 2 Bedroom | N/A | N/A | $1,020 |
| 3 Bedroom | N/A | N/A | $1,380 |
| 4 Bedroom | N/A | N/A | $1,710 |
Affordability — Mountain Iron, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.2 |
| Median Home Price | $204,000 |
| Median Household Income | $82,300 |