Cost Of Living
Residents in this area benefit from an affordable cost of living. This includes goods and services, transportation, housing, utilities, groceries and healthcare.
Housing
The housing category in this area boasts higher than average scores, likely influenced by a positive home affordability ratio, robust appreciation rates or elevated home values.
Health & Safety
Earning a high health and safety score depends on factors such as good air quality and the availability of essential health facilities like hospitals, clinics, doctors, and fire stations.
Amenities
It appears that many amenities may not be conveniently situated within walking distance, potentially necessitating the use of a vehicle or public transit.
Commute
Commuters in this area may experience longer-than-average work commute times due to limited public transportation access.
Employment
The combination of low income levels and high unemployment rates contributes to a low score in the employment category, which could make it challenging to secure well-paying jobs.
Located in the state of Michigan, Iron River is a small city with a population of 2,831 people. At 98%, the majority of the Iron River population is White; this is followed by 1% Black and 1% American Indian and Alaskan. All the single ladies and all the single fellas might want to take notice as only 50% of the Iron River population is married. If you're not a fan of traffic congestion and long commute times to work, Iron River is the place to be. Commutes to work here are shorter, with an average one-way commute time taking only 18 minutes, significantly lower than the national average of 26 minutes.
If you’re considering moving to any new city, it could be a very daunting task. However, it could also be a great experience if you are willing to get to know the town before actually living in Iron River, Michigan. When searching for a new neighborhood, several key items should be considered. Safety is of utmost importance, ensuring a secure environment with low crime. Proximity to your workplace or school helps reduce commuting time and offers convenience. Access to amenities such as parks, grocery stores, and healthcare facilities enhances your daily life. Public transportation options contribute to easy mobility. A sense of community fosters a supportive and engaging environment. Lastly, the overall atmosphere should align with your desired lifestyle, ensuring a fulfilling living experience. Considering these items will guide you towards finding the perfect neighborhood that fits all your needs. To help you find the best places to live in and around Iron River, AreaVibes has created a livability score using key metrics like amenities, crime, cost of living, education and more.
With a livability score of 72/100, Iron River is ranked #5,085 in the United States and #217 in Michigan. If we examine each of the categories individually, we see that Iron River ranks well for crime (B+) and housing (A-). There is at least one category that you should be aware of in Iron River. The following was graded with a less than perfect score: amenities (F), education (D-) and employment (F).
Achieving a cost-effective lifestyle can be pivotal in managing your monthly expenditures, especially given the ongoing upward trajectory of everday goods and housing prices. In Iron River, residents are fortunate to experience a cost of living that is 24.03% below the national average. This advantageous positioning extends its impact to a wide spectrum of expenses, encompassing not only goods and services but also transportation and health care costs. As a result, this area stands out as a place where your money stretches further, ensuring that you can maintain a more economical and sustainable lifestyle. This affordability becomes increasingly valuable in an era marked by soaring costs, making Iron River an attractive choice for those seeking financial prudence without compromising on quality of life.
The Iron River unemployment rate of 2.43% has continued to decrease over the years and is now well below the national average. The result could lead to reduced poverty and inequality in the area, higher wages and increased economic growth. This is a positive sign in the overall health of the local economy.
Finding affordable real estate and housing in Iron River can be tricky. Having said that, this area might be the place to get the best of both worlds. Based on factors like home/rental affordability and appreciation rates, this area has received an above average score in the housing category. A healthy real estate market can lead to wealth appreciation for property owners, as rising property values can contribute to homeowners' equity, financial stability and the ability to build long-term wealth.
Being close to public transit, grocery stores, parks and other conveniences are all important when weighing your options for a new home in Iron River. Before you determine if any of these amenities are available in the area, you will also want to know if the real estate prices in Iron River are affordable. The median home price for Iron River homes is $53,100, which is 58.5% lower than the Michigan average. If we take a closer look at the affordability of homes in Iron River, we’ll see that the home price to income ratio is 1.4, which is 44% lower than the Michigan average.
| Statistic | Iron River | Michigan | National |
| Average one way commute | 18min | 24min | 26min |
| Workers who drive to work | 78.6% | 82.5% | 76.4% |
| Workers who carpool | 10.9% | 8.8% | 9.3% |
| Workers who take public transit | 0.3% | 1.4% | 5.1% |
| Workers who bicycle | 0.0% | 0.5% | 0.6% |
| Workers who walk | 2.6% | 2.2% | 2.8% |
| Working from home | 7.7% | 3.7% | 4.6% |
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