According to statistics, the population in Iron Mountain, MI amounts to 7,450, which shows decline -1% compared to the previous year. The median age of the city’s residents is 44. The average household income is $45,575, shifting growth 21% from the past year, and the average property value in Iron Mountain, MI growth 6% to $79,700 throughout the year.
|Number Of Employees||2,975|
|Median Property Value||$79,700|
The average household income in Iron Mountain, MI grew from $37,729 to $45,575 in the past year. This data is an estimate based upon 3,163 households in Iron Mountain, MI . The chart below presents how household income is distributed in Iron Mountain, MI in comparison to the revenue allocation amid households nationally.
According to data from last year, the average property value in Iron Mountain, MI shifted from $75,100 to $79,700 throughout the year. The subsequent graph indicates the share of properties in the given price range in Iron Mountain, MI in comparison to the median property value in the same price segment across the country. According to the data, the greatest share of Iron Mountain, MI properties falls in the '$50,000 to $59,999' range, which is lower than the most significant median property across the country.
One of the most important aspects for property owners is the amount of property taxes. This graph shows distribution of property taxes in Iron Mountain, MI compared to median property taxes around the country. The prevalent amount of property taxes in Iron Mountain, MI equals $1150, which is less than the national average.
|Apartment Size||Jul||vs Last Month|
|1 bed for sale||$229,000||N/A|
|2 bed for sale||$124,720||+18.5%|
|3 bed for sale||$286,314||+140%|
|4+ bed for sale||$233,460||+3.1%|
During Jul 2022, the average price for an apartment in/near Iron Mountain, MI increased by 39.6% to $227,025.
After collecting all data points, we now see that the average price for 1-bed apartment stands at $229,000 with no changes this month. Asking price for 2-bed apartment also increased by 18.5% and a place of this size will now cost you $124,720. A 3-bed apartment goes for $286,314, it increased by 140% lately. We discerned the rise of 4- and more bed apartment price. It increased by 3.1% and made it up to $233,460.
|Listing Type||Jul||vs Last Month|
|Houses for sale||$266,594||+49.3%|
|Duplexes for sale||$159,500||+77.4%|
|Land for sale||$159,788||+239.7%|
Price reports demonstrate that house price increased by 49.3% this month making it up to $266,594. You can now purchase a duplex for just $159,500, duplex price increased by 77.4% this month.