Cost of Living in Iron River, WI
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
83.7
100 = national avg
-16.3 vs national average
Living Wage (1 Adult)
$36,809
per year
Living Wage (Family of 4)
$87,003
per year
Cost Index by Category
Housing74.4
Food92.3
Transportation84.5
Healthcare93.8
Utilities90.2
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$742
per month
2 Bedroom
$973
per month
The overall cost of living index in Iron River is 83.7, which is 16.3% below the national average. Housing costs are below the national average at an index of 74.4. A single adult needs to earn approximately $36,809 per year to cover basic expenses.