Cost of Living in Iron County, Wisconsin
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
These figures are county medians, not a personal budget. Use them to frame rent, ownership, and income tradeoffs, then account for household size, commute, financing, insurance, taxes, debt, and local availability before making a decision.
How Iron County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Iron County ranks #571 of 3,142 counties for affordability (top 18%)
Sourced county brief
Iron County Renter Median Income Estimated at $26,528
The median renter-household income in Iron County was $26,528 according to the 2020-2024 5-year estimates. The official ACS B25071 gross rent as a percentage of household income (GRAPI) was 24.9%, which is 0.4 percentage points below the Wisconsin unweighted county mean of 25.3%. Median gross rent was recorded at $662 per month, a figure below the state unweighted county mean of $916. For homeowners, the median home value was $165,900, while the state unweighted county mean was $234,086. Median selected monthly owner costs for all owner-occupied units were $745, compared to the Wisconsin unweighted county mean of $1,072. The median household income for all households in the county was $60,625. These statistics represent a snapshot of the housing costs and income levels based on federal survey data. See ACS table B25071 for the underlying estimate.
Source record
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25064 Median Gross Rent
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25071 GRAPI
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25077 Median Home Value
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25088 Selected Monthly Owner Costs
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25119 Household Income by Tenure
Data version acs5-2020-2024 · Method cost-brief-v1
Cost of Living Advisory: Iron County
Affordability Verdict
ACS B25071 estimates median gross rent at 24.9% of renter household income in Iron County, which is below the 30% affordability benchmark. This is a median percentage among renter-occupied units, not the share of households above a threshold.
Rent vs. Own
Median gross rent is $662 per month; median selected monthly owner costs are $745. These ACS medians describe different tenure groups and are not a personalized rent-versus-buy calculation.
Income Needed
Using the common 30% budgeting benchmark, $26,480 in annual gross income would allocate 30% to the county's median gross rent. This is a reproducible illustration, not evidence that a particular household can afford housing.
Regional Context
The Wisconsin unweighted mean of county median rents is $916 per month. Iron County's $662 median is 27.7% below that comparison value.
Data version acs5-2020-2024 · Method cost-advisory-v2
Affordability Calculator
See how your income compares to housing costs in Iron County
Rent Burden
13.1%
of gross income
Max Housing (28% Rule)
$1,415
per month
Owner Cost Burden
14.7%
of gross income
You can likely afford the median home in Iron County
Median home value is $165,900. Estimated monthly cost: $1,324 vs. your max of $1,415.
Rent Affordability Guide
Income Needed Calculator
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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 (2020-2024). Data is informational only and is not personalized financial advice.
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