Rental Market Trends in Iron Mountain, MI
What is the average rent in Iron Mountain, MI?
$471/month
Average Rent
0 Sq Ft
Average Apartment Size
+0.8%
Increase in the Last Year
As of June 2025, the average rent in Iron Mountain, MI is $471 per month. This is 71% lower than the national average rent of $1,627/month, making renting in Iron Mountain more affordable than most cities in the US. When you rent an apartment in Iron Mountain, you can expect to pay about per month for a studio, $471 for a one-bedroom apartment, and around $489 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay or more.
How much has average rent changed in Iron Mountain, MI?
In the past year, rent has increased by 0.8%, which averages out to $4 more per month.
What salary do I need to live comfortably in Iron Mountain, MI?
Because the average rent in Iron Mountain is $471, you’ll want to make about $1,570 per month or $18,840 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does Iron Mountain, MI compare to other nearby cities and neighborhoods?
Use the tool below to compare Iron Mountain, MI to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Learn More with Helpful Articles
Rental management, simplified
Our all-in-one suite of property manangement software makes the rental process easy. Screen tenants, manage payments, and more – all on Apartments.com
Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in June 2025.
* Percentages may not total 100 due to rounding.