Mountain Iron, MN housing market
The typical Mountain Iron home is worth about $201,000, up 6.9% in a year, 43% below the Minnesota typical home.
Home values, sales, trends and how Mountain Iron compares with the towns next door — updated as new data is published.
Mountain Iron at a glance
Typical home value, 2016–2026
Show as a table
| January | Mountain Iron | Minnesota |
|---|---|---|
| 2017 | $115,000 | $217,000 |
| 2018 | $123,000 | $232,000 |
| 2019 | $131,000 | $246,000 |
| 2020 | $140,000 | $259,000 |
| 2021 | $152,000 | $282,000 |
| 2022 | $166,000 | $313,000 |
| 2023 | $172,000 | $325,000 |
| 2024 | $177,000 | $331,000 |
| 2025 | $181,000 | $341,000 |
| 2026 | $196,000 | $349,000 |
| August 2026 | $201,000 | $351,000 |
No new homes permitted in 2025
No permits for new homes were issued in Mountain Iron in 2025. The last year with any was 2024 (4 new homes).
Homes vs. people, 2010–2020
Between the 2010 and 2020 censuses, Mountain Iron gained 9 residents while 44 new homes were permitted: about 0.2 new residents per new home. Building outpaced population growth, which usually means smaller households or homes used part of the year. Across Minnesota: 2.2 new residents per new home.
Residents: U.S. Census Bureau, 2010 and 2020 censuses. New homes: permits issued 2010–2019.
Show as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 1 | 1 | 0 | $403,000 |
| 2025 | 0 | 0 | 0 | — |
| 2024 | 4 | 4 | 0 | $1.6 million |
| 2023 | 1 | 1 | 0 | $723,000 |
| 2022 | 4 | 4 | 0 | $1.5 million |
| 2021 | 4 | 4 | 0 | $1.6 million |
| 2020 | 5 | 5 | 0 | $1.3 million |
| 2019 | 3 | 3 | 0 | $629,000 |
| 2018 | 4 | 4 | 0 | $1.1 million |
| 2017 | 4 | 4 | 0 | $635,000 |
| 2016 | 5 | 5 | 0 | $1.8 million |
| 2015 | 5 | 5 | 0 | $1.7 million |
| 2014 | 5 | 5 | 0 | $1.3 million |
| 2013 | 4 | 4 | 0 | $826,000 |
| 2012 | 5 | 5 | 0 | $1.4 million |
| 2011 | 5 | 5 | 0 | $1.1 million |
| 2010 | 4 | 4 | 0 | $963,000 |
| 2009 | 4 | 4 | 0 | $985,000 |
| 2008 | 8 | 8 | 0 | $1.5 million |
| 2007 | 6 | 6 | 0 | $1.5 million |
| 2006 | 11 | 11 | 0 | $1.8 million |
| 2005 | 6 | 6 | 0 | $894,000 |
| 2004 | 9 | 9 | 0 | $1.7 million |
| 2003 | 7 | 7 | 0 | $1.1 million |
| 2002 | 12 | 12 | 0 | $2 million |
| 2001 | 11 | 11 | 0 | $2 million |
| 2000 | 3 | 3 | 0 | $445,000 |
How Mountain Iron ranks on new homes being built →
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey, through August 2026.
Mountain Iron and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| Mountain Iron | $201K | +6.9% | $1,110 | 0 | $83,293 |
| Virginia | $131K | +3% | $1,080 | 4 | $51,720 |
| Wuori | — | +13.8%† | $1,080 | — | $97,813 |
| Leonidas | — | +4.3%† | $1,100 | 0 | — |
| Eveleth | $174K | +6.6% | $1,100 | 0 | $50,725 |
† FHFA price index change, where Zillow has no home value for the town.
2.4 years of income
The typical Mountain Iron home costs about 2.4 years of the town's median household income, less than across Minnesota (3.9 years).
How Mountain Iron ranks on affordability →
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $1,110
HUD's Fair Market Rent for a two-bedroom in Mountain Iron is $1,110 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Mountain Iron pay a median of $918, so moving in tends to cost more than staying put. A two-bedroom takes about 16% of the town's median household income.
Studio $760 · 4 bedrooms $1,860
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (55710, 55751, 55768; Duluth, MN-WI MSA), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Recent listings in Mountain Iron
Home values: Zillow Home Value Index (ZHVI), Zillow Research, August 2026. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.