Iron Mountain, MI—49801
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Iron Mountain, MI
As of Oct '25, the median home price in Iron Mountain, MI is $183,000, with a year-over-year change of 7.1%. This indicates that home prices in Iron Mountain, MI are increasing. According to Zillow, the 1-year price projection is 0.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $183,000 | 7.1% |
| Single Family | $184,000 | 6.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $131,000 | 4.8% |
3 Bed | $196,000 | 5.9% |
4 Bed | $243,000 | 4.7% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Iron Mountain, MI
Iron Mountain, MI 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 — Iron Mountain, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Iron Mountain, MI is 55. This is a increase of 21.0% 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 23.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $234,000 | 37.0% |
Listing Count | 44 | 1.0% |
| Listings as % of Homes | 0.4% | 1.0% |
Days on Market | 55 | 21.0% |
Demographics — Iron Mountain, MI
As of the latest ACS Survey released in 2023, Iron Mountain, MI has a population of 11,600, which has increased by 2.3% over the past 5 years. Iron Mountain, MI is a moderately popular place for families, as children make up 18.8% of the population. The area has a poorly educated workforce, with 24.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 11,600 | 2.3% |
% Under 18 | 18.8% | -7.8% |
% Seniors | 22.7% | 14.1% |
% WFH | 10.7% | 167.5% |
% w/ College Degree | 24.5% | -14.3% |
As of the latest ACS Survey released in 2023, Iron Mountain, MI is a predominantly white area, with 93.0% of the population identifying as white. The white population has shrunk by 3.5% in the last 5 years. The second most common race or ethnicity in Iron Mountain, MI is hispanic, making up 2.4% of the population. Foreign-born residents account for 1.9% of the population in Iron Mountain, MI, and this percentage has increased by 111.1% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 93.0% | -3.5% |
% Black | 1.1% | 37.5% |
% Hispanic | 2.4% | 71.4% |
% Asian | 0.7% | 40.0% |
% Foreign Born | 1.9% | 111.1% |
Mortgage and Risk — Iron Mountain, MI
According to HUD data as of 2023, there were 142 mortgage originations in Iron Mountain, MI, of which 68.0% of loans were conventional mortgages. The average loan-to-value was 74.0%, with 37.0% above 90% LTV (very high). This implies large mortgage risk in Iron Mountain, MI. Investor activity is low, as 1.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 142 |
% Conventional Loans | 68.0% |
% Government Loans | 32.0% |
% Investor Loans | 1.0% |
% Second Loans | 3.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Iron Mountain, MI
Iron Mountain, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 172 |
Total Units Section 8 | 73 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 93.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $810 |
| 2 Bedroom | N/A | N/A | $930 |
| 3 Bedroom | N/A | N/A | $1,120 |
| 4 Bedroom | N/A | N/A | $1,350 |
Affordability — Iron Mountain, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.4 |
| Median Home Price | $183,000 |
| Median Household Income | $62,500 |