Mountain Iron, MN vs Nicollet, MN

Mountain Iron, MN and Nicollet, MN have a very similar cost of living, with only a 1.9% difference in their overall index. Mountain Iron scores 73 while Nicollet scores 74 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 Mountain Iron is $911/month compared to $862/month in Nicollet — a 6% difference. Interestingly, home values tell a different story: while Nicollet has cheaper rent, Mountain Iron actually has lower median home values ($180,700 vs $214,100).

Median household income in Mountain Iron is $81,607 compared to $80,500 in Nicollet (+1.4%). Mountain Iron offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Mountain Iron spend roughly 13.4% of their income on rent, more than the 12.8% in Nicollet.

Climate-wise, Nicollet is notably warmer with an average of 45.4°F compared to 36.9°F in Mountain Iron. Nicollet receives more rainfall at 28" per year compared to 24.8" in Mountain Iron.