Cost of Living in Iron County, Missouri
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Iron County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Iron County ranks #651 of 3,144 counties for affordability (top 21%)
Data Story
About Cost of Living in Iron County, Missouri
Iron keeps rents within reason
Iron County's rent-to-income ratio of 15.7% matches Missouri's state average of 15.6%, signaling stable, manageable housing costs for renters. With monthly rents of $671 and median household income of $51,161, housing consumes a reasonable share of earnings.
Right on Missouri's affordability line
At 15.7%, Iron County sits practically even with the state average, offering neither premium affordability nor affordability strain. Its rents of $671 run slightly below the state median of $768, reflecting modest housing demand.
Competitive small-county pricing
Iron County's $671 rent ranks among the lowest in its peer group, undercutting Harrison ($666) only slightly while beating Henry ($740) and Howell ($722). Home values of $113,000 align with smaller, rural Missouri counties seeking affordability.
Balanced rent and ownership costs
Renters pay $671 monthly while owners invest $554 against a median household income of $51,161. This means renters dedicate 15.7% of earnings to housing, while owners commit just 13.0%—both well within sustainable ranges.
Iron offers quiet affordability
If you seek a low-key Missouri county where housing costs won't strain your budget, Iron delivers competitive rents and manageable mortgages without drawing crowds. It's ideal for remote workers or retirees prioritizing affordability and community quietness over urban amenities.
Cost of Living Advisory: Iron County
Affordability Verdict
Iron County is affordable for renters, with a median gross rent of $671/month representing approximately 15.7% of median household income. The rent burden (GRAPI) stands at 31.0%.
Rent vs. Own
Renters in Iron County pay $671/month on average, compared to $554/month for homeowners. This market favors buyers by about 17%.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $26,840/year. For owner costs at the 28% rule, the required income is roughly $23,743/year. With a median household income of $51,161, most households can comfortably afford rent here. Notably, 31.0% of renter households in Iron County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Compared to Gentry County where rent averages $620/month, Iron County is approximately 8% more expensive.
Affordability Calculator
See how your income compares to housing costs in Iron County
Rent Burden
15.7%
of gross income
Max Housing (28% Rule)
$1,194
per month
Owner Cost Burden
13.0%
of gross income
You can likely afford the median home in Iron County
Median home value is $113,000. Estimated monthly cost: $902 vs. your max of $1,194.
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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