Iron River, WI vs Wheeler, WI

Iron River is moderately more affordable than Wheeler, with a 11.6% lower cost of living index. Iron River scores 65 compared to 74 for Wheeler, where the US average is 100. This difference means residents of Wheeler can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Iron River is $653/month compared to $1,042/month in Wheeler — a 37% difference. Interestingly, home values tell a different story: while Iron River has cheaper rent, Wheeler actually has lower median home values ($112,500 vs $152,100).

Median household income in Iron River is $55,294 compared to $73,750 in Wheeler (-25%). While Wheeler 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, less than the 17% in Wheeler.