Magnetite in mixture with metallic iron in indoor dust samples was examined using several magnetic analyses, thermomagnetic curves of the magnetic susceptibility and the induced magnetization vs. temperature, hysteresis loops, and first-order reversal curves. The study of the magnetic properties was supplemented by the analysis of chemical elements and electron microscopic observation. The metallic iron in the mixture affects the values of hysteresis parameters, decreasing coercivity (B
c) and increasing saturation magnetization (M
s), and it is responsible for the magnetic enhancement of magnetic susceptibility. The thermomagnetic curves show several distinct features: the first Curie temperature of magnetite, the second one (∼764 °C) of iron, and the rapid decrease on the heating curves (between 600 and 750 °C) caused by the oxidation of iron to magnetite. Two magnetochemical processes appear during the thermal treatment of indoor dust: the oxidation of iron to magnetite and the neo-formation of magnetite as a result of chemical transformation of non-magnetic minerals. The shift of the hysteresis parameter ratios from the multi-domain (MD) region towards the single-domain (SD) region on the Day-Dunlop plot is controlled by the oxidation of iron in the thermally induced process and the grain size of the new formed magnetite. The magnetic properties of indoor dust are a potential indicator of indoor air pollution. Elemental iron plays an important role in the development of inflammation in humans via oxidative stress, so that the presence of metallic Fe in indoor dust can affect human health.