Iron County, Michigan: commercial real estate data.
Iron County, Michigan had an estimated 11,709 residents on July 1, 2024, up 0.8 percent since the 2020 census base of 11,618, across 1,166 square miles. County output reached $419.5 m in 2024, 358 establishments operate here, and the SBA record carries 13 7(a) approvals worth $2.6 m since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Iron County
How many people live in Iron County
- Population, American Community Survey 2020-202411,667
- Households5,547
- Average household size2.10
- Median household income$55,940
- Median age53.1
- Median gross rent$716 per month
- Median owner-occupied home value$109,100
- Home value to household income2.0 times
- Annual rent as a share of median income15.4 percent
- Adults 25 and over with a bachelor degree or higher22.5 percent
- Adults 25 and over with a graduate degree7.2 percent
- Adults 25 and over9,009
- Population under 182,044
- Share under 1817.5 percent
- Population 65 and over3,662
- Share 65 and over31.4 percent
- Working age population, 18 to 645,961
- Civilian labor force4,690
- Unemployment rate5.4 percent
- Labor force participation, adults 18 and over48.7 percent
- Rank by population among Michigan counties73rd of 83
- Rank by population among US county-equivalents, Puerto Rico included2378th of 3,222
Iron County is the 73rd largest of 83 Michigan counties by population. A median home costs 2.0 times median household income, which is affordable by national standards. Residents 65 and over outnumber those under 18, at 31.4 percent against 17.5 percent, which points demand at health care, services and single story product rather than schools.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Iron County
Is Iron County's population growing?
- Population, July 1, 202411,709
- Census 2020 base population11,618
- Population change since the 2020 census base0.78 percent
- Population change, 2023 to 2024-13
- Births, 202477
- Deaths, 2024206
- Natural change, 2024-129
- Net domestic migration, 202494
- Net international migration, 202422
- Total net migration, 2024116
- Cumulative net domestic migration, 2021 to 2024601
- Rank by growth among US county-equivalents1559th of 3,144
The county has grown 0.78 percent since the 2020 census base. Deaths exceeded births in 2024 by more than net migration added, so the population fell even though more people moved in than left.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Iron County
Where are people moving to Iron County from?
- Tax returns filed by households arriving301
- People arriving, from those returns555
- Tax returns filed by households leaving206
- Net household movement95
- Adjusted gross income arriving$19.7 m
- Net adjusted gross income movement$10.0 m
- Average income of an arriving household$65,608
- Average income of a leaving household$47,112
- Largest single originDickinson County (26 households)
- Largest single destinationDickinson County (27 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Dickinson County | 26 | 54 | $1.3 m |
Households arriving report $18,496 more average income than households leaving, so the migration is raising local spending power rather than just moving it around. The largest single source of arrivals is Dickinson County, which is the catchment a retail or multifamily study should look at first.
US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Iron County
What is the Iron County economy?
- County GDP, 2024$419.5 m
- County GDP, 2023$402.7 m
- GDP change, 2023 to 20244.2 percent
- GDP change over five years24.9 percent
- Rank by GDP among the Michigan areas BEA publishes73rd of 83
- Rank by GDP among the US county areas BEA publishes2518th of 3,127
- GDP per resident$35,958
Output grew 4.2 percent in the latest year and 24.9 percent over five, which is the trend line a lender will read behind any single year figure.
US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024.
Iron County
Employment by industry in Iron County
- Covered employment, annual average3,410
- Establishments reporting392
- Average annual pay$44,921
- Average weekly wage$864
- Retail trade, employment626
- Retail trade, average annual pay$47,218
- Accommodation and food services, employment314
- Accommodation and food services, average annual pay$15,467
- Manufacturing, employment287
- Manufacturing, average annual pay$44,858
- Health care and social assistance, employment277
- Health care and social assistance, average annual pay$58,402
- Construction, employment217
- Other services, except public administration, employment165
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Retail trade | 626 | 47 | $47,218 |
| Accommodation and food services | 314 | 29 | $15,467 |
| Manufacturing | 287 | 20 | $44,858 |
| Health care and social assistance | 277 | 24 | $58,402 |
| Construction | 217 | 55 | $53,364 |
| Other services, except public administration | 165 | 32 | $39,553 |
| Professional, scientific and technical services | 120 | 36 | $47,529 |
| Finance and insurance | 117 | 17 | $51,707 |
Retail trade is the largest private sector at 626 jobs, 18.4 percent of covered employment.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Iron County
How many businesses are in Iron County?
- Establishments, all industries358
- Employment at those establishments2,475
- Annual payroll$107.2 m
- Establishments per 1,000 residents30.7
These are counts of establishments physically operating in the county, not listings, so they are the supply side a feasibility study measures demand against. County Business Patterns counts private establishments with paid employees in March 2023, while the Quarterly Census of Employment and Wages above counts every unemployment-insured employer, public ones included, as a 2024 annual average, so the two establishment and employment counts differ.
US Census Bureau, County Business Patterns, 2023.
Iron County
Building permits in Iron County
- Housing units authorized by permit, 2024156
- Declared construction value permitted$9.2 m
- Single family units authorized156
- Multifamily units authorized0
- Multifamily share of units0.0 percent
- Average declared value per unit$58,712
- Units authorized per 1,000 households28.1
Single-family homes are 100.0 percent of units authorized, so the pipeline is predominantly single-family.
US Census Bureau, Building Permits Survey, 2024 annual.
Iron County
SBA loans in Iron County (7(a) and 504)
- 7(a) approvals recorded13
- 7(a) gross approval dollars$2.6 m
- Average 7(a) approval$202,169
- Median 7(a) approval$99,000
- Largest single approval$584,800
- Jobs reported supported, 7(a)260
- Jobs per approval20.0
- Distinct 7(a) lenders active5
- Distinct industries receiving approvals7
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer15.4 percent
- Loans on real estate terms2
- Loans on working capital terms, 120 months or shorter9
- Franchise loans1
- Franchise share of approvals7.7 percent
- Leading industry by approval countVeterinary Services (3)
- Most active lenderFirst National Bank & Trust Co (7)
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Iron County
SBA loan default and charge-off rates in Iron County
Do SBA loans in Iron County get paid back?
- Loans with a final outcome recorded3
- Paid in full3
- Charged off0
- Status: Paid in full3
- Status: Exempt from disclosure9
- Status: Cancelled1
Only 3 loans have reached a final outcome, fewer than the 30 a charge-off rate needs, so no rate is published.
Compare against the national and state SBA charge-off rates, computed the same way over resolved loans only.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Iron County
SBA lending by place in Iron County
- Borrower cities with recorded lending3
- Iron River, approvals9
- Crystal Falls, approvals2
- Caspian, approvals2
| Borrower city | Approvals | Gross approval dollars |
|---|---|---|
| Iron River | 9 | $2,219,500 |
| Crystal Falls | 2 | $260,000 |
| Caspian | 2 | $148,700 |
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Iron County
How large is Iron County?
- Land area1,166 sq mi
- Rank by land area among Michigan counties6th of 83
- Width, east to west42 mi
- Height, north to south34.6 mi
- Geographies sharing a boundary9
- Residents per square mile of land10
- Establishments per square mile0.31
US Census Bureau county boundary geometry, TIGER, adjacency computed from shared boundary vertices, TIGER county boundaries. US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year. US Census Bureau, County Business Patterns, 2023.
Iron County
Flood risk in Iron County
- Communities in the county in the NFIP Community Status Book2
- Of those, participating in the NFIP2
- NFIP participation rate100.0 percent
- Communities carrying a CRS class0
- Radon levels in Iron County, EPA zone predicted average indoor radon screening level from 2 to 4 pCi/LZone 2
The EPA places Iron County in radon zone 2, a predicted average indoor radon screening level from 2 to 4 pCi/L. The zone is a screening prediction for the county and does not substitute for a test at an address. 100.0 percent of the county's listed communities participate in the National Flood Insurance Program, per Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26.
Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26. US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Coverage
What this page does not hold.
Traffic counts, zoning and the flood zone at an address are not on this page; they resolve at the address in the platform. How this page was built →
Feasibility studies
When a Iron County site needs a document a lender will accept.
The same data layer behind this page is the one the studies are written from. A study for a Iron County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population, American Community Survey 2020-202411,667
- Households5,547
- Average household size2.10
- Median household income$55,940
- Median age53.1
Common questions
Iron County questions, answered from the record.
How many people live in Iron County, Michigan?
The Census Bureau estimates 11,709 residents on July 1, 2024 (US Census Bureau, Population Estimates Program, Vintage 2024). The American Community Survey 2020-2024 five-year estimate is 11,667, in 5,547 households, ranking 73rd of 83 Michigan counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Iron County's population growing?
The population has grown 0.78 percent since the 2020 census base of 11,618, to 11,709 on July 1, 2024. In 2024 there were 77 births against 206 deaths, with net migration of 116. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Iron County?
$55,940. The median owner-occupied home is valued at $109,100, which is 2.0 times income, and median gross rent is $716 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are in Iron County?
358 establishments, employing 2,475 people with an annual payroll of $107.2 m. These are establishments physically operating in the county, not listings. Source: US Census Bureau, County Business Patterns, 2023.
What is employment by industry in Iron County?
Retail trade is the largest private sector at 626 jobs, 18.4 percent of covered employment. Covered employment averages 3,410 jobs at an average annual pay of $44,921, or $864 a week. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Iron County?
13 7(a) approvals totaling $2.6 m since FY2020, across 5 lenders, with a median approval of $99,000. These are approvals recorded in the release, not loans disbursed.
How many building permits were issued in Iron County?
156 housing units were authorized by permit in 2024, with a declared construction value of $9.2 m. Multifamily was 0.0 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Iron County?
Zone 2, a predicted average indoor radon screening level from 2 to 4 pCi/L. Source: US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Where do people moving to Iron County come from?
The largest single origin is Dickinson County, with 26 households. Arriving households report an average income of $65,608 against $47,112 for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Iron County on this page?
No. Annual average daily traffic resolves in the platform rather than in this dataset, so no AADT figure is printed here. It is a gap we know about rather than a figure we estimated.
Is zoning published for Iron County?
No. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame, to be confirmed locally.
Iron County
Cities and places in Iron.
6 Census places lie wholly or partly in Iron County. All 6 carry enough published place level data for a page of their own and are linked.
| Place | Type | Population | SBA 7(a) approvals, projects in this county | Lies in |
|---|---|---|---|---|
| Iron River | city | 3,002 | 9 | Wholly in this county |
| Crystal Falls | city | 1,719 | 2 | Wholly in this county |
| Caspian | city | 600 | 2 | Wholly in this county |
| Gaastra | city | 296 | None recorded | Wholly in this county |
| Amasa | CDP | 253 | None recorded | Wholly in this county |
| Alpha | village | 215 | None recorded | Wholly in this county |