HomeMichiganIron CountyIron River
Iron River, Michigan: commercial real estate data.
Iron River is a Census city of 3,002 people across 6.74 square miles of land, in Iron County. Median household income is $54,183, 70.0 percent of occupied homes are owned, and the SBA record carries 9 7(a) approvals to borrowers here worth $2.2 m since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Iron River
What Iron River is
- Census place typecity
- Land area6.74 sq mi
- Water area0.02 sq mi
- Population per square mile of land446
- County holding the largest share of its areaIron County, 100.0 percent
US Census Bureau, cartographic boundary file, places, 2024 vintage. US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Iron River
How many people live in Iron River
- Population3,002
- Median age43.1
- Population under 18656
- Share under 1821.9 percent
- Population 65 and over553 plus or minus 121
- Share 65 and over18.4 percent plus or minus 4.0
- Households1,314
- Family households729
- Share of households that are families55.5 percent
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Iron River
Income and work in Iron River
- Median household income$54,183
- Per capita income$29,651
- Civilian labor force1,360
- Employed1,296
- Unemployed64 plus or minus 56
- Unemployment rate4.7 percent plus or minus 4.1
- Adults 25 and over2,134
- Adults 25 and over with a high school diploma or higher96.6 percent
- Adults 25 and over with a bachelor degree or higher20.6 percent plus or minus 5.2
- Adults 25 and over with a graduate degree5.7 percent plus or minus 2.9
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Iron River
Housing in Iron River
- Housing units1,760
- Occupied units1,314
- Vacant units446 plus or minus 136
- Vacancy rate25.3 percent plus or minus 7.5
- Owner occupied920
- Renter occupied394 plus or minus 94
- Ownership rate70.0 percent
- Median owner-occupied home value$85,000
- Median gross rent, monthly$486 plus or minus $192
- Annual rent as a share of median income10.8 percent plus or minus 4.4
- Single family units1,419
- Share single family80.6 percent
- Units in buildings of two or more327 plus or minus 120
- Share in buildings of two or more18.6 percent plus or minus 6.7
- Mobile homes0
- Median year structure built1952
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Iron River
How Iron River gets to work
- Workers 16 and over who commute1,101
- Commuting under 15 minutes766 plus or minus 161
- Share commuting under 15 minutes69.6 percent
- Commuting 30 minutes or more83 plus or minus 42
- Share commuting 30 minutes or more7.5 percent plus or minus 3.7
- Drove alone69.5 percent
- Carpooled9.8 percent plus or minus 5.0
- Public transport0.0 percent
- Walked2.7 percent plus or minus 2.1
- Worked from home13.6 percent plus or minus 5.6
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Iron River
SBA loans in Iron River (7(a))
- Approvals9
- Gross approval$2,219,500
- Average approval$246,611
- Median approval$99,000
- Largest approval$584,800
- Jobs supported229
- Jobs per approval25.4
- Loans with a final outcome2
- Paid in full2
- Charged off0
- Median term120 months
- Share on real estate terms of 20 years or more22.2 percent
- Share to franchises0.0 percent
- Distinct lenders3
- Distinct industries by NAICS5
Counted by borrower city: approvals to borrowers whose address is in Iron River, in any county, FY2020 to FY2026. Only 2 loans have reached a final outcome, fewer than the 30 a charge-off rate needs, so no rate is published.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Iron River
Flood risk in Iron River
- NFIP communityCity of Iron River
- NFIP community number260103
- Participating in the NFIPYes
- Community Rating System classNone
- Currently effective map date03/04/91
The City of Iron River participates in the National Flood Insurance Program as community 260103 and carries no Community Rating System class, so no CRS premium discount applies to it.
Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26.
Iron County, not Iron River
Iron County context, not Iron River figures
- Establishments in Iron County358
- Covered employment, Iron County3,410
- Average annual pay, Iron County$44,921
- Housing units permitted, Iron County156
Every figure in this section is published for Iron County as a whole and is not a measurement of Iron River.
US Census Bureau, County Business Patterns, 2023. US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages. US Census Bureau, Building Permits Survey, 2024 annual.
Coverage
What this page does not hold.
Parcel detail, 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 →
Common questions
Iron River questions, answered from the record.
How many people live in Iron River, Michigan?
3,002, in 1,314 households. Iron River city covers 6.74 square miles of land, which is 446 people per square mile. Source: US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
What county is Iron River in?
Iron County, which holds 100.0 percent of the place by area. Source: US Census Bureau, cartographic boundary file, places, 2024 vintage.
What is the median household income in Iron River?
$54,183. The median owner-occupied home is valued at $85,000. Median gross rent is $486 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
How much SBA lending goes to Iron River businesses?
9 7(a) approvals totaling $2.2 m since FY2020, across 3 lenders, median approval $99,000. These count approvals to borrowers whose address is in Iron River, not projects sited inside the place boundary, and they are approvals recorded in the release rather than loans disbursed.
Do SBA loans to Iron River borrowers get paid back?
No rate is published for Iron River. Only 2 loans have reached a final outcome, fewer than the 30 a charge-off rate needs, so no rate is published. The counts are shown instead.
Is Iron River in the National Flood Insurance Program?
Yes. Iron River appears in the FEMA Community Status Book as Iron River, city of, community 260103, with no Community Rating System class, so no CRS discount applies. Whether a specific parcel sits in a mapped special flood hazard area is an address level question the platform answers.
Are the county figures on this page Iron River figures?
No, and they are labeled so. County Business Patterns, QCEW, the Building Permits Survey, BEA product and IRS migration are published for Iron County as a whole and there is no place level equivalent. They appear in one clearly marked section as context and are never presented as measurements of Iron River.
Is zoning published for Iron River?
No. Nothing on this page presents parcel level zoning.
Nearby