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Affordable
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These days, finding an affordable place to live in the Magnet area can be challenging. Home prices in Magnet are now at a median cost of $238,101, lower than the Illinois average of $300,242.
The average cost of rent is $922/mo in Magnet, primarily driven by the current value of real estate in the Magnet area. In Magnet, 15.27% of households rent, and 39.36% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Magnet is $8,557 per month. Households that rent pay about 10.77% of their income on rent here. Magnet’s most expensive areas are in the eastern regions, while the cheapest areas are in the northern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
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Cities with Similar Populations
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