Explore Similar Condos Within 25 Miles of Mountain Iron, MN
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Why Live in Mountain Iron
Mountain Iron has long been a mining community since 1890, when Leonidas Merritt and his family, known as the “Seven Iron Men,” discovered iron ore in the region. Today, Mountain Iron is considered the “Taconite Capital of the World,” as U.S. Steel operates the world’s largest taconite processing facility, Minntac. “Our community is definitely backed by the mines,” says Lisa Fredrickson, an accounting technician for the city who has lived here her whole life. “Most people work in the mines and they’re what everyone thinks of when it comes to sustainability for living here.” Mountain Iron is considered the “Birthplace of the Mesabi,” aka the Mesabi Iron Range, a region comprised of the Quad Cities, which incorporate three other mining communities: Virginia, Eveleth and Gilbert. This community also has a lot of land used for outdoor recreation, including a trail that connects all four of the Quad Cities and mine pits that are no longer in service. Some homes in this rural community are out in the country, while others are in suburban-like neighborhoods. Old Town Mountain Iron is considered the downtown area, featuring bungalows and Colonial Revivals selling for around $110,000 to
Home Trends in Mountain Iron, MN
On average, homes in Mountain Iron, MN sell after 166 days on the market compared to the national average of 50 days. The median sale price for homes in Mountain Iron, MN over the last 12 months is $215,000, down 8% from the median home sale price over the previous 12 months.
Housing Trends
Median Sale Price
$215,000
Median Single Family Sale Price
$192,500
Average Price Per Sq Ft
$174
Number of Homes for Sale
3
Last 12 months Home Sales
27
Months of Supply
1.30
Median List Price
$195,000
Median Change From 1st List Price
0%
Median Home Sale Price YoY Change
-8%