Cost of Living in Iron Junction, MN
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
70.1
100 = national avg
-29.9 vs national average
Living Wage (1 Adult)
$30,830
per year
Living Wage (Family of 4)
$72,870
per year
Cost Index by Category
Housing68.9
Food79.3
Transportation58.6
Healthcare83.4
Utilities81.4
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$978
per month
2 Bedroom
$1,232
per month
The overall cost of living index in Iron Junction is 70.1, which is 29.9% below the national average. Housing costs are below the national average at an index of 68.9. A single adult needs to earn approximately $30,830 per year to cover basic expenses.