Iron County, MI
FIPS: 26071
Median HAM
3.4x
Low
Jul 2023
Minimum HAM
11.6x
High
Jan 2026
HAM Burden
No data
Not enough historical data to show a trend chart for this county.
Economic Profile
BEA GDP data (2024)
GDP Per Capita
$36,069
National avg: ~$82,000
Total GDP
$420M
Thousands of current $
Population
11,631
2020 Census
Top Industries by GDP
Real estate and rental and leasing24.0%
Government and government enterprises16.8%
Retail trade15.6%
Health care and social assistance6.7%
Construction6.1%
Data Breakdown
Median HAM
Data as of Jul 2023
Median Home Price
$101,500
Census ACS
Gross Median Income
$36,798
Census ACS
Net Median Income
$29,987
Calculated
Median HAM
3.38x
Minimum HAM
Data as of Jan 2026
Median Home Price
$243,775
Redfin
Min Wage (Hourly)
$12.00/hr
State labor data
Net Min Wage Income
$20,954
Calculated
Minimum HAM
11.63x
Methodology: HAM = Home Price / Net Annual Income. Net income assumes single filer, standard deduction, 2,080 hrs/yr for minimum wage. Federal + state tax + FICA deducted. Home price source priority: Zillow ZHVI > Redfin > Census ACS.