The typical owner-occupied home in Iron Belt is worth about $65,400, 75% below the Wisconsin median of $266,500 and 80% below the national median of $332,700. Owners pay a median $613 a year in property taxes, about 0.94% of their home's value, lower than the Wisconsin rate of 1.42%. The median household earns $57,969 a year, so the median home costs 1.1 times the median income (3.4 times for Wisconsin). 91% of occupied homes here are lived in by their owners, and 38% of those owners still have a mortgage.
Iron Belt at a glance
| Iron Belt | Wisconsin | U.S. | |
|---|---|---|---|
| Median home value | $65,400 | $266,500 | $332,700 |
| Median property tax paid per year | $613 | $3,792 | $3,119 |
| Property tax as a share of value | 0.94% | 1.42% | 0.94% |
| Median household income | $57,969 | $77,485 | $80,734 |
| Homes lived in by their owners | 91% | 68% | 65% |
| Owner homes with a mortgage | 38% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $850 | $1,689 | $1,963 |
| Those costs as a share of the owners' income | 19.0% | 19.5% | 21.0% |
| Median rent | – | $1,087 | $1,413 |
| Median year homes were built | 1956 | 1975 | 1980 |
| Vacant homes | 40.5% | 10.8% | 10.1% |
| Population | 140 | 5,914,872 | 334,922,499 |
What a typical home costs per month in Iron Belt
At this week's average 30-year rate of 7.11%, buying the median Iron Belt home of $65,400 with 20% down costs about $430 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $539, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $18,447 for the 20%-down payment. That payment is 9% of the median Iron Belt household income of $57,969; at that income and 20% down, the 28% guideline points to a home of about $206,000.
| Down payment | $13,080 |
|---|---|
| Loan amount | $52,320 |
| Principal and interest | $352 |
| Property taxes (0.94% a year) | $51 |
| Homeowners insurance (our estimate, 0.5% a year) | $27 |
| PMI | $0 |
| Total per month | $430 |
Change the numbers in the calculator
| Down payment | $2,289 |
|---|---|
| Loan amount | $64,215 |
| Principal and interest | $432 |
| Property taxes (0.94% a year) | $51 |
| Homeowners insurance (our estimate, 0.5% a year) | $27 |
| FHA mortgage insurance | $29 |
| Total per month | $539 |
Change the numbers in the calculator
Questions about home buying in Iron Belt
What is the median home value in Iron Belt?
About $65,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Iron Belt?
Homeowners pay a median $613 a year, which is about 0.94% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Iron Belt?
For the median home with 20% down at 7.11%, the payment is about $430 a month. Keeping that under 28% of gross income takes about $18,447 a year.
More about Iron Belt
- Mortgage Refinance in Iron Belt
- Debt Relief in Iron Belt
- Home Equity Loans in Iron Belt
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data