Iron River, MI vs Lakes of the North, MI

The cost of living difference between Iron River, MI and Lakes of the North, MI is dramatic. Iron River is 39% cheaper than Lakes of the North, a gap that translates to thousands of dollars per year in household expenses. Iron River has a cost index of 52 while Lakes of the North sits at 86, making this one of the more striking comparisons on our site. Relocating between these cities would require a serious reassessment of budget and lifestyle expectations.

When it comes to buying, median home values in Iron River are $75,000 compared to $169,600 in Lakes of the North, a 56% gap.

Median household income in Iron River is $48,750 compared to $65,536 in Lakes of the North (-25.6%). The higher salaries in Lakes of the North partially offset the cost difference, but don't fully close the gap.