Iron Junction, MN vs New Munich, MN

Iron Junction, MN and New Munich, MN have a very similar cost of living, with only a 4.5% difference in their overall index. Iron Junction scores 81 while New Munich scores 85 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

When it comes to buying, median home values in Iron Junction are $127,500 compared to $165,300 in New Munich, a 23% gap.

Median household income in Iron Junction is $38,333 compared to $90,714 in New Munich (-57.7%). While New Munich is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income.

Climate-wise, New Munich is notably warmer with an average of 42.9°F compared to 36.9°F in Iron Junction. New Munich receives more rainfall at 28.5" per year compared to 24.8" in Iron Junction.