Cost of Living in Iron Mountain, MI
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
83.4
100 = national avg
-16.6 vs national average
Living Wage (1 Adult)
$36,688
per year
Living Wage (Family of 4)
$86,718
per year
Cost Index by Category
Housing71.3
Food93.3
Transportation86.6
Healthcare94.6
Utilities90.2
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$841
per month
2 Bedroom
$973
per month
The overall cost of living index in Iron Mountain is 83.4, which is 16.6% below the national average. Housing costs are below the national average at an index of 71.3. A single adult needs to earn approximately $36,688 per year to cover basic expenses.