Living in Iron River, Michigan has its pros and cons.

The positives of living in Iron River include its close proximity to nature and its small-town charm. With Iron County being home to the picturesque Ironwood Forest National Monument, residents are never too far away from a peaceful outdoor escape. The town also has a welcoming and friendly atmosphere, with a strong sense of community due to the number of small businesses and local events.

On the downside, living in Iron River may be limiting in terms of job opportunities. Due to the size of the city, there may be fewer job options than larger cities or towns. Additionally, the small-town feel can also feel isolating for those who are used to larger cities with more activities and attractions.

Here are some potential pros and cons of home ownership in Iron River, Michigan:

Pros:
- Lower cost of living compared to many other US cities.
- Great outdoor recreational opportunities, such as fishing, hunting, camping, and hiking.
- A tight-knit community with friendly neighbors.
- Generally lower property taxes and home insurance rates.

Cons:
- Shorter summer season due to the colder climate.
- Limited employment opportunities, particularly in more specialized fields.
- Potential for harsh winter weather conditions.
- Higher than average property crime rates in Iron River.

Note that these are just some factors to consider and your own personal circumstances and preferences may impact whether homeownership in Iron River is a good fit for you. Also, it's always a good idea to research more specific information about the community and speak to local residents to get a better sense of what it's like to live there.