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Affordable
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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 $377,450, higher than the Delaware average of $361,617.
The average cost of rent is $1,677/mo in Magnolia, primarily driven by the current value of real estate in the Magnolia area. In Magnolia, 15.93% of households rent, and 25.70% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Magnolia is $9,024 per month. Households that rent pay about 18.59% of their income on rent here. Magnolia’s most expensive areas are in the northeastern regions, while the cheapest areas are in the southeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Frederica, DE: less expensive homes
- Woodside, DE: equally priced homes
- Camden, DE: less expensive homes
- Dover Afb, DE: less expensive homes
- Viola, DE: less expensive homes
- Wyoming, DE: less expensive homes
- Felton, DE: less expensive homes
- Kitts Hummock, DE: less expensive homes
- Bowers, DE: equally priced homes
- Dover, DE: less expensive homes
Cities with Similar Populations
- Troy, IL: less expensive homes
- Covington, TN: less expensive homes
- Crestwood, MO: less expensive homes
- Cromwell, CT: less expensive homes
- Croton On Hudson, NY: higher priced homes
- Cutlerville, MI: less expensive homes
- Dallas, PA: less expensive homes
- Damascus, MD: higher priced homes
- Damascus, OR: higher priced homes
- Del Mar, CA: higher priced homes
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