HomeMichiganIron CountyIron River city
Iron River city, Michigan: commercial real estate data.
Iron River city 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.
70 sourced place values · tier FULL · 8 sections
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 7(a) lending to Iron River borrowers
- Approvals9
- Gross approval$2,219,500
- Average approval$246,611
- Median approval$99,000
- Ninetieth percentile approval$584,800
- 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
A charge-off rate is not published here. only 2 resolved loans, too few to publish a rate, and a rate over that few outcomes would move several points on one loan.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Iron River
Flood programme status in Iron River
- Listed NFIP communities1
- Of those, participating1
- NFIP community number260103
- Currently effective map date03/04/91
This community carries no Community Rating System class, so no CRS premium discount applies to it.
FEMA, National Flood Insurance Program Community Status Book, Community Status Book, as retrieved.
Iron County, not Iron River
Iron County context, not Iron River figures
These are Iron County figures. There is no place level equivalent published for any of them, so they are shown as the county backdrop and never as Iron River measurements.
- Establishments in Iron County358
- Employment at those establishments, Iron County2,475
- Covered employment, Iron County3,410
- Average annual pay, Iron County$44,921
- Average weekly wage, Iron County$864
- Housing units permitted, Iron County156
- Of those, single family, Iron County156
- County product, 2024, Iron County$419,523,000
- County product change over the prior year, Iron County4.2 percent
- Average income of an arriving household, Iron County$65,608
Every figure in this section is published for Iron County as a whole and is not a measurement of Iron River. It is here because a county backdrop is what a credit committee reads a place against, and it is labelled so that it can never be quoted as the place's own.
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. US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024. US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Coverage
What this page does not hold.
Every item below could be filled with a plausible figure. None of them is. On a page a lender may read, a number that cannot be traced is worse than an absence, so the absences are named.
- Parcel level detail, zoning and flood zone at an address are resolved in the platform, not on this page.
SBA figures count approvals to borrowers whose address is in the place. They are not approvals for projects inside the place boundary: the tape records a borrower city and a project county, and those can differ.
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 totalling $2.2 m, 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 resolved loans, too few to publish a rate, and a percentage over that few outcomes would move several points on a single loan. 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 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 labelled 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?
Not yet. The zoning layer is in build. Nothing on this page presents parcel level zoning.
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