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These days, finding an affordable place to live in the Magnolia area can be challenging. Home prices in Magnolia are now at a median cost of $87,324, lower than the Alabama average of $228,911.
The average cost of rent is $703/mo in Magnolia, primarily driven by the current value of real estate in the Magnolia area. In Magnolia, 27.58% of households rent, and 61.91% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Magnolia is $4,066 per month. Households that rent pay about 17.29% of their income on rent here. Magnolia’s most expensive areas are in the central regions, while the cheapest areas are in the northwestern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Miller, AL: higher priced homes
- Dixons Mills, AL: higher priced homes
- Wayne, AL: less expensive homes
- Pope, AL: less expensive homes
- Vineland, AL: less expensive homes
- Octagon, AL: equally priced homes
- Clayhill, AL: less expensive homes
- Lamison, AL: less expensive homes
- Arlington, AL: less expensive homes
- Hampden, AL: less expensive homes
Cities with Similar Populations
- Vida, MT: higher priced homes
- Danvers, MN: higher priced homes
- Danville, WI: higher priced homes
- Deadwood, OR: higher priced homes
- Defries, KY: higher priced homes
- Del Bonita, MT: higher priced homes
- Dell, AR: higher priced homes
- Delmar, VA: higher priced homes
- Denning, AR: higher priced homes
- Detroit, OR: higher priced homes
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