Cost of Living in Mountain Iron, MN
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
104.4
100 = national avg
+4.4 vs national average
Living Wage (1 Adult)
$45,944
per year
Living Wage (Family of 4)
$108,594
per year
Cost Index by Category
Housing96.1
Food112.4
Transportation90.4
Healthcare109.9
Utilities106.6
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 Mountain Iron is 104.4, which is 4.4% above the national average. Housing costs are below the national average at an index of 96.1. A single adult needs to earn approximately $45,944 per year to cover basic expenses.