Ipiaçu is located at an elevation of 437 meters just south of the Paranaíba River in the Triângulo Mineiro.
Ipiaçu is in the top tier of municipalities in the state with regard to economic and social development.
There was a small retail commerce serving the surrounding area of cattle and agricultural lands.
[3] The highest ranking municipality in Minas Gerais in 2000 was Poços de Caldas with 0.841, while the lowest was Setubinha with 0.568.
In more recent statistics (considering 5,507 municipalities) Manari in the state of Pernambuco has the lowest rating in the country—0,467—putting it in last place.