Abstract: An adjustable iron holder having an outer housing with a pivoting iron holding plate for storing a steam iron in either a toe down or toe up position that is adjustable relative to a vertical axis for optimal draining, and a removable drain receptacle for collecting water drained from the iron or which may leak from the iron to reduce the formation of mineral deposits and/or rust in or on the iron. The iron holder may be provided with a removable ironing board bracket that supports a folded ironing board. A removable water cup may be provided on one side wall of the outer housing for containing a supply of water to be used by the steam iron, and a removable accessory storage cup may be provided on the opposed side wall for holding the cord of the iron or miscellaneous small items.