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Mountain Iron city, MN

ZIP 55751 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Middle ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 55751

Median Home Value
$182,900
Median Rent
$533
Affordability Snapshot
$50,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,175/mo PITI).

9%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

2.5x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

28.6 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 55751 in Mountain Iron city, MN, a household would need roughly $50,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $1,175. That sits below the local median household income ($72,969), suggesting the typical household income is closer to a workable buy-in level under these assumptions. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Vacancy rate 13% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
95.7%+46% vs US avg
x
Vacancy Rate
12.8%+25% vs US avg
x
Broadband Access
86.3%-1% vs US avg
x
4+ Bedrooms
3.1%-79% vs US avg
x
Built Pre-1939
7.4%-42% vs US avg
x
Built Post-2014
0.7%-89% vs US avg
x
Rent Burden >30%
0.0%
x
Mortgage-Free
49.3%+29% vs US avg
x
$182,900
Home Value
$533
Rent
1975
Year Built
2003
Moved In

Residents have lived here since ~2003 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached82.2%
  • 1-unit attached0.1%
  • 2-9 units0.0%
  • 10+ units0.0%
  • Mobile home & other17.6%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$182,900
Median rent$533
Owner-occupied95.7%
Vacant12.8%
Price-to-income2.5x
Est. income to buy$50,000