Market Overview
Home Prices in Ironwood, MI
The median home value in Ironwood, MI is $112,656 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 5.9% compared to a year ago and up 0.2% from two years prior.
Compared to the U.S. national median of $410,000, homes in Ironwood are priced73% below average.
Over the past five years, Ironwood home values have risen by approximately34.2%, reflecting strong long-term appreciation in this market.
Price History
Ironwood Home Price Trend
2020
$63,082
$63K
—
2021
$83,930
$84K
+33.0%
2022
$95,706
$96K
+14.0%
2023
$95,636
$96K
-0.1%
2024
$106,164
$106K
+11.0%
2025
$106,365
$106K
+0.2%
2026
$112,656
$113K
+5.9%
City Comparison
Ironwood vs. National Median
🏠 Ironwood
$112,656
National Median
$410,000
At $112,656, homes in Ironwood cost 73% below the national median of $410,000. This makes Ironwood a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Ironwood?
20% Down Payment
$22,531
on $112,656
Monthly P&I
$588/mo
30-yr @ 6.8%
Total Monthly Est.
~$747/mo
incl. taxes & insurance
Income Needed
$29,880
gross annual (30% rule)
10% Down Option
$11,266
+ PMI applies
Loan Amount (20% dn)
$90,125
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 Ironwood, MI?
The median home value in Ironwood is $112,656 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 5.9% year-over-year.
How much have home prices changed in Ironwood?
Over the past year, home values in Ironwood have increased by 5.9%. Over five years, prices have risen approximately 34.2%.
How much do I need to earn to buy a home in Ironwood?
To comfortably afford the median home price of $112,656 with a 20% down payment ($22,531) at today's rates (6.8%), you'd need a gross annual income of approximately $29,880. This assumes keeping total housing costs at or below 30% of gross income.
How does Ironwood compare to the national average home price?
The national median home value is approximately $410,000. At $112,656, homes in Ironwood are 73% below the national average.