Ironwood, MI Profile: Facts & Data

The primary coordinate point for Ironwood is located at latitude 46.4547 and longitude -90.171 in Gogebic County. The formal boundaries for the City of Ironwood encompass a land area of 6.42 sq. miles and a water area of 0 sq. miles. Gogebic County is in the Central time zone (GMT -6).

The City of Ironwood has a C5 Census Class Code which indicates an active incorporated place that is independent of any county subdivision and serves as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

Ironwood, MI Data & Demographics (As of July 1, 2024)

POPULATION
Total Population	5,005 (100%)
Population in Households	4,929 (98.5%)
Population in Families	3,427 (68.5%)
Population in Group Quarters¹	76 ( 1.5%)
Population Density	761
Diversity Index²	21


INCOME
Median Household Income	$38,801
Average Household Income	$64,723
% of Income for Mortgage⁴	13%
Per Capita Income	$31,990
Wealth Index⁵	52
Socioeconomic Status Index⁶	Moderate (50.0)

HOUSING
Total HU (Housing Units)	3,063 (100%)
Owner Occupied HU	1,789 (58.4%)
Renter Occupied HU	683 (22.3%)
Vacant Housing Units	591 (19.3%)
Median Home Value	$78,837
Average Home Value	$102,879
Housing Affordability Index³	182

HOUSEHOLDS
Total Households	2,472
Average Household Size	1.99
Family Households	1,229
Average Family Size	3.00

NOTES

Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.
The Socioeconomic Index ranges from zero (lowest relative status) to 100 (highest relative status). This measure quantifies disparities in social position of an area's inhabitants and is built from a broad range of demographic, housing, and socioeconomic inputs. More information on this measure can be found in Esri's SEI tutorial.

Ironwood, MI - Peer Comparisons by Rank and Percentile

The table below compares Ironwood to the other 745 incorporated cities, towns and CDPs in Michigan by rank and percentile using July 1, 2024 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

GROWTH RATE / YEAR	2020-2024	2024-2029
Population	-0.19%	-0.24%
Households	0.10%	0.12%
Families		-0.20%
Median Household Income		3.24%
Per Capita Income		3.42%
Owner Occupied HU		0.41%

Variable Description	Rank	Percentile
Total Population	# 181	76th
Population Density	# 414	45th
Median Household Income	# 725	3rd
Housing Affordability Index	# 677	91st
Per Capita Income	# 484	35th
Diversity Index	# 439	41st

Ironwood, MI Profile: Facts & Data

Ironwood, Michigan - Basic Facts

Ironwood, MI Data & Demographics (As of July 1, 2024)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Ironwood, MI - Peer Comparisons by Rank and Percentile

Ironwood, MI - Most Popular Things to Do

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Gogebic County