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Mountain Iron city, MN

ZIP 55768 — Housing & Real Estate

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

Middle ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 55768

Median Home Value
$190,300
Median Rent
$725
Affordability Snapshot
$52,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,222/mo PITI).

11%
Rent-to-Income Ratio

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

2.3x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

21.9 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 55768 in Mountain Iron city, MN, a household would need roughly $52,000 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 $1,222. That sits below the local median household income ($82,261), 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

Owner-occupied majority; balanced tenure mix.

Heating Fuel
Housing Metrics
Owner Occupied
77.7%+19% vs US avg
x
Vacancy Rate
8.4%-18% vs US avg
x
Broadband Access
86.6%-0% vs US avg
x
4+ Bedrooms
2.5%-83% vs US avg
x
Built Pre-1939
1.9%-85% vs US avg
x
Built Post-2014
0.8%-88% vs US avg
x
Rent Burden >30%
17.5%-65% vs US avg
x
Mortgage-Free
45.1%+18% vs US avg
x
$190,300
Home Value
$725
Rent
1974
Year Built
2004
Moved In

Residents have lived here since ~2004 on average

Housing Structure

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

  • 1-unit detached75.0%
  • 1-unit attached1.4%
  • 2-9 units4.7%
  • 10+ units17.0%
  • Mobile home & other1.9%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$190,300
Median rent$725
Owner-occupied77.7%
Vacant8.4%
Price-to-income2.3x
Est. income to buy$52,000