Iron River, WI vs Lowell, WI

Iron River, WI and Lowell, WI have a very similar cost of living, with only a 0.5% difference in their overall index. Iron River scores 65 while Lowell scores 66 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.

On the housing front, median rent in Iron River is $653/month compared to $638/month in Lowell — a 2% difference. Interestingly, home values tell a different story: while Lowell has cheaper rent, Iron River actually has lower median home values ($152,100 vs $161,900).

Median household income in Iron River is $55,294 compared to $73,750 in Lowell (-25%). While Lowell is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Iron River spend roughly 14.2% of their income on rent, more than the 10.4% in Lowell.