Cost of Living in Iosco County, Michigan
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Iosco County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Iosco County ranks #1,570 of 3,144 counties for affordability (top 50%)
Data Story
About Cost of Living in Iosco County, Michigan
Iosco's low rent masks affordability challenges
At 16.6%, Iosco County's rent-to-income ratio sits just above Michigan's state average of 16.3%, despite having a median rent of only $659—24% below the state median. The challenge is Iosco's median household income of $47,777, which is 36% lower than the national median of $74,755, making the percentage burden steeper than raw rent numbers suggest.
Iosco's low incomes offset low rents
While Iosco County ranks favorably on rent-to-income ratio at 16.6%, its median household income of $47,777 ranks among Michigan's lowest, placing significant downward pressure on overall household financial stability. The county's affordability advantage evaporates when measured by absolute dollars available after housing.
Iosco rents are cheap, but so are incomes
Iosco's $659 median rent is the lowest among its peers, undercutting Ionia ($840), Jackson ($958), and Kalamazoo ($1,049) substantially. However, with a median income 18% below Ionia County ($73,436), Iosco residents have fewer resources for non-housing expenses despite cheaper rent.
Limited income stretches thin despite cheap rent
At $659 monthly rent on a $47,777 annual income, Iosco renters spend roughly $7,908 yearly on housing—16.6% of gross income, but against an already constrained budget. Owner-occupants pay $629 monthly with median home values of $122,900, offering the lowest homeownership costs in the region but requiring stronger savings discipline given lower incomes.
Iosco suits remote workers with low expenses
If you work remotely or telecommute and earn at or above state-average income, Iosco County's $659 rents and $122,900 home values are exceptional bargains for your dollar. However, if you're seeking local employment, the county's median income of $47,777 signals a limited job market—make sure your income will travel with you.
Cost of Living Advisory: Iosco County
Affordability Verdict
Housing in Iosco County is affordable. The median rent is $659/month against a median household income of $47,777, putting rent at 16.6% of income.
Rent vs. Own
Renters in Iosco County pay $659/month on average, compared to $629/month for homeowners. This market favors buyers by about 5%.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $26,360/year. For owner costs at the 28% rule, the required income is roughly $26,957/year. With a median household income of $47,777, most households can comfortably afford rent here. Notably, 27.0% of renter households in Iosco County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Iosco County sits 7% less expensive than Alger County ($712/month) in terms of median gross rent.
Affordability Calculator
See how your income compares to housing costs in Iosco County
Rent Burden
16.6%
of gross income
Max Housing (28% Rule)
$1,115
per month
Owner Cost Burden
15.8%
of gross income
You can likely afford the median home in Iosco County
Median home value is $122,900. Estimated monthly cost: $981 vs. your max of $1,115.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.
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