Rent in Iron County, MI at a glance
2-bedroom rent (HUD)
$1,068$12,816 a year · HUD fiscal year 2026From October 1, 2026: $1,132 (+6%)How much rent can you afford in Iron County, MI?
HUD’s fair market rent for each size, against what a typical household here earns. Change the income to see yours.
Rent in Iron County, MI by bedroom, and the pay it takes
Income needed keeps rent at 30% of gross pay; the hourly figure assumes one full-time job, 2,080 hours a year.
| Size | A month | A year | Income needed | Hourly wage needed |
|---|---|---|---|---|
| Studio | $756 | $9,072 | $30,240 | $14.54/hr |
| 1 bedroom | $814 | $9,768 | $32,560 | $15.65/hr |
| 2 bedroomsMost searched | $1,068 | $12,816 | $42,720 | $20.54/hr |
| 3 bedrooms | $1,281 | $15,372 | $51,240 | $24.63/hr |
| 4 bedrooms | $1,414 | $16,968 | $56,560 | $27.19/hr |
Cost of living in Iron County, MI: income, prices and a budget →
Living and working in Iron County, MI
Rent in Iron County, MI: common questions
How much is rent going up in Iron County, MI in 2027?
HUD's Fair Market Rent for fiscal 2027, which takes effect October 1, 2026, is $1,132 for a two-bedroom, up 6% from $1,068. A one-bedroom goes from $814 to $865, a studio from $756 to $808.
These are HUD's estimates of what a typical recently rented unit costs, used for housing vouchers. A landlord's increase on your lease follows your lease and your state's rules, not this figure.
What is the average rent in Iron County, MI?
HUD's Fair Market Rent for 2026 is $814 for a one-bedroom and $1,068 for a two-bedroom, utilities included. That is $12,816 a year for the two-bedroom.
It is not an average of current listings. HUD sets it at the rent 40% of recent movers paid or less for a standard unit, so asking rents on newer places usually run higher.
How much do you need to make to afford rent in Iron County, MI?
To keep a $1,068 two-bedroom at 30% of gross pay, one full-time worker needs $20.54 an hour, or $42,720 a year. A one-bedroom at $814 takes $15.65 an hour.
How much is a 1, 2 or 3-bedroom apartment in Iron County, MI?
At HUD's 2026 Fair Market Rent: studio $756, one bedroom $814, two $1,068, three $1,281 and four $1,414 a month.
Is rent affordable in Iron County, MI?
For the typical household, earning $55,940 a year ($4,662 a month, Census ACS), a two-bedroom at $1,068 takes 22.9% of income. Under 30% is the usual line for affordable; this is under it.
How is the income needed for rent worked out?
Rent for a year divided by 0.30, the share of gross income HUD treats as affordable: ($1,068 × 12) ÷ 0.30 = $42,720. Divided by 2,080 working hours, that is $20.54 an hour.