Market Overview
Home Prices in Iron Mountain, MI
The median home value in Iron Mountain, MI is $197,411 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 3.6% compared to a year ago and up 7.2% from two years prior.
Compared to the U.S. national median of $410,000, homes in Iron Mountain are priced52% below average. Iron Mountain is part of the Iron Mountain, MI-WI metro area.
Over the past five years, Iron Mountain home values have risen by approximately43.2%, reflecting strong long-term appreciation in this market.
Price History
Iron Mountain Home Price Trend
City Comparison
Iron Mountain vs. National Median
At $197,411, homes in Iron Mountain cost 52% below the national median of $410,000. This makes Iron Mountain a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Iron Mountain?
20% Down Payment
$39,482
on $197,411
Monthly P&I
$1,030/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,308/mo
incl. taxes & insurance
Income Needed
$52,320
gross annual (30% rule)
10% Down Option
$19,741
+ PMI applies
Loan Amount (20% dn)
$157,929
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Iron Mountain, MI?
The median home value in Iron Mountain is $197,411 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 3.6% year-over-year.
How much have home prices changed in Iron Mountain?
Over the past year, home values in Iron Mountain have increased by 3.6%. Over five years, prices have risen approximately 43.2%.
How much do I need to earn to buy a home in Iron Mountain?
To comfortably afford the median home price of $197,411 with a 20% down payment ($39,482) at today's rates (6.8%), you'd need a gross annual income of approximately $52,320. This assumes keeping total housing costs at or below 30% of gross income.
How does Iron Mountain compare to the national average home price?
The national median home value is approximately $410,000. At $197,411, homes in Iron Mountain are 52% below the national average.
What metro area is Iron Mountain part of?
Iron Mountain is part of the Iron Mountain, MI-WI metropolitan area. Home prices and market conditions can vary across the broader metro region.