Iron River, WI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Iron River, WI Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Iron River Housing Market Information

With a population of 763, 339 total housing units (homes and apartments), and a median house value of $168,496, Iron River real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Iron River, accounting for 72.69% of the town's housing units. Other types of housing that are prevalent in Iron River include duplexes, homes converted to apartments or other small apartment buildings ( 12.73%), mobile homes or trailers ( 7.60%), and a few large apartment complexes or high rise apartments ( 6.37%).

Dwellings in Iron River tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 50.72% of the homes in Iron River have two or fewer bedrooms.

There is a lot of housing in Iron River built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Iron River built between 1940-1969 ( 18.48%). A lesser amount of the housing stock also hails from between 2000 and later ( 17.66%). There's also some housing in Iron River built before 1939 ( 17.66%).

Vacant housing appears to be an issue in Iron River. Fully 30.39% of the housing stock is classified as vacant. Left unchecked, vacant Iron River homes and apartments can be a drag on the real estate market, holding Iron River real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Iron River Home Appreciation Rates

Appreciation rates for homes in Iron River have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 5.27%, which ranks in the top 40% nationwide. This equates to an annual average Iron River house appreciation rate of 0.51%.

NeighborhoodScout's data show that during the latest twelve months, Iron River's appreciation rate, at 3.42%, has been at or slightly above the national average. In the latest quarter, Iron River's appreciation rate has been 0.52%, which annualizes to a rate of 2.09%.

Relative to Wisconsin, our data show that Iron River's latest annual appreciation rate is lower than 60% of the other cities and towns in Wisconsin.

Average Home Values

 

Median Home Value:
$168,496

Iron River, WI HOME PRICES

Value Range
> $1,084,000 0.8
$813,001 - $1,084,000 1.2
$542,001 - $813,000 1.1
$434,001 - $542,000 3.4
$325,001 - $434,000 5.7
$217,001 - $325,000 22.0
$108,001 - $217,000 40.0
$54,001 - $108,000 18.9
$0 - $54,000 6.9

Average for WI
Average for Nation

Value Relative to Nation Value Relative to State
42.1891480135943 50.7186858316222

Number Of Homes And Apartments:
339

Iron River Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WI*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
52.83% 2.49% 10 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$740 / per month

Homeownership Rate

Homeownership
Owners 71.68
Renters 28.32
Vacant 30.39

Housing Market Details

 

Age of Homes

AGE OF Iron River HOMES
2000 or Newer 17.7
1970 - 1999 46.2
1940 - 1969 18.5
1939 or Older 17.7

Types of Homes

TYPE OF Iron River HOMES
Single-Family 72.7
Townhomes 0.6
Small Apt. Buildings 12.7
Apt. Complexes 6.4
Mobile Homes 7.6
Other 0.0

Home Size

SIZE OF Iron River HOMES
No Bedroom 1.64
1 Bedroom 18.69
2 Bedrooms 30.39
3 Bedrooms 31.42
4 Bedrooms 12.11
5 or more bedrooms 5.75

Popular Neighborhoods in Iron River

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Zip Codes in Iron River, WI