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Iron River city, MI

ZIP 49935 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Working ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 49935

Median Home Value
$103,800
Median Rent
$296
Affordability Snapshot
$29,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$667/mo PITI).

7%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

2.0x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

29.2 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 49935 in Iron River city, MI, a household would need roughly $29,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $667. That sits below the local median household income ($52,254), suggesting the typical household income is closer to a workable buy-in level under these assumptions. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Vacancy rate 41% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
80.9%+24% vs US avg
x
Vacancy Rate
41.0%+298% vs US avg
x
Broadband Access
83.2%-4% vs US avg
x
4+ Bedrooms
1.7%-88% vs US avg
x
Built Pre-1939
10.3%-19% vs US avg
x
Built Post-2014
0.1%-99% vs US avg
x
Rent Burden >30%
12.3%-75% vs US avg
x
Mortgage-Free
51.7%+35% vs US avg
x
$103,800
Home Value
$296
Rent
1959
Year Built
2008
Moved In

Residents have lived here since ~2008 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached85.7%
  • 1-unit attached0.4%
  • 2-9 units6.3%
  • 10+ units3.9%
  • Mobile home & other3.8%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$103,800
Median rent$296
Owner-occupied80.9%
Vacant41.0%
Price-to-income2.0x
Est. income to buy$29,000