Market Overview
Home Prices in Iron, MN
The median home value in Iron, MN is $238,159 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 8.5% compared to a year ago and up 3% from two years prior.
Compared to the U.S. national median of $410,000, homes in Iron are priced42% below average. Iron is part of the Duluth, MN-WI metro area.
Over the past five years, Iron home values have risen by approximately32.0%, reflecting strong long-term appreciation in this market.
Price History
Iron Home Price Trend
2020
$151,616
$152K
—
2021
$180,393
$180K
+19.0%
2022
$200,443
$200K
+11.1%
2023
$206,602
$207K
+3.1%
2024
$213,128
$213K
+3.2%
2025
$219,481
$219K
+3.0%
2026
$238,159
$238K
+8.5%
City Comparison
Iron vs. National Median
🏠 Iron
$238,159
National Median
$410,000
At $238,159, homes in Iron cost 42% below the national median of $410,000. This makes Iron a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Iron?
20% Down Payment
$47,632
on $238,159
Monthly P&I
$1,242/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,577/mo
incl. taxes & insurance
Income Needed
$63,080
gross annual (30% rule)
10% Down Option
$23,816
+ PMI applies
Loan Amount (20% dn)
$190,527
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, MN?
The median home value in Iron is $238,159 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 8.5% year-over-year.
How much have home prices changed in Iron?
Over the past year, home values in Iron have increased by 8.5%. Over five years, prices have risen approximately 32.0%.
How much do I need to earn to buy a home in Iron?
To comfortably afford the median home price of $238,159 with a 20% down payment ($47,632) at today's rates (6.8%), you'd need a gross annual income of approximately $63,080. This assumes keeping total housing costs at or below 30% of gross income.
How does Iron compare to the national average home price?
The national median home value is approximately $410,000. At $238,159, homes in Iron are 42% below the national average.
What metro area is Iron part of?
Iron is part of the Duluth, MN-WI metropolitan area. Home prices and market conditions can vary across the broader metro region.