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)
How Iron County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Iron County ranks #243 of 3,144 counties for affordability (top 8%)
Data Story
About Cost of Living in Iron County, Wisconsin
Iron County: Wisconsin's housing bargain
Iron County stands out with a 13.0% rent-to-income ratio, well below both the national average and the 30% affordability threshold. At $640 monthly median rent, this far northern county offers some of Wisconsin's lowest housing costs while maintaining reasonable wages.
Cheapest rent in the comparison
Iron County ranks as the most affordable housing market among Wisconsin counties studied, with median rent of just $640—about 28% less than the state average of $891. Its 13.0% rent-to-income ratio ties with Iowa County for the state's best affordability.
Northern Wisconsin value champion
Iron County's $640 median rent significantly undercuts Jackson ($789), Juneau ($847), and Kewaunee ($839) counties. Median home values of $155,200 are the lowest in this comparison, making Iron County ideal for buyers prioritizing affordability over urban amenities.
Housing costs at a glance
With median household income at $59,058, renters spend $640 monthly (13.0% of income) while homeowners pay $738 (15.0% of income). Both percentages remain solidly below national affordability standards, leaving households money for other essentials.
Iron County: rural affordability champion
If you're relocating to escape high housing costs, Iron County's $640 rent and $155,200 home values are genuinely exceptional. You'll sacrifice urban services and job diversity but gain immediate relief on your monthly housing burden.
Cost of Living Advisory: Iron County
Affordability Verdict
Iron County offers affordable rental housing at a median of $640/month — about 13.0% of the typical household income here.
Rent vs. Own
At $640/month rent versus $738/month in owner costs, renting is roughly $98/month cheaper — a 13% difference.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $25,600/year. For owner costs at the 28% rule, the required income is roughly $31,629/year. With a median household income of $59,058, most households can comfortably afford rent here. Notably, 29.0% of renter households in Iron County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Iron County sits 9% more expensive than Forest County ($585/month) in terms of median gross rent.
Affordability Calculator
See how your income compares to housing costs in Iron County
Rent Burden
13.0%
of gross income
Max Housing (28% Rule)
$1,378
per month
Owner Cost Burden
15.0%
of gross income
You can likely afford the median home in Iron County
Median home value is $155,200. Estimated monthly cost: $1,239 vs. your max of $1,378.
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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