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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 $156,178, lower than the Illinois average of $300,242.
The average cost of rent is $756/mo in Magnolia, primarily driven by the current value of real estate in the Magnolia area. In Magnolia, 20.14% of households rent, and 49.12% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Magnolia is $6,911 per month. Households that rent pay about 10.94% of their income on rent here. Magnolia’s most expensive areas are in the western regions, while the cheapest areas are in the northeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- McNabb, IL: higher priced homes
- Varna, IL: higher priced homes
- Mount Palatine, IL: less expensive homes
- Lostant, IL: less expensive homes
- Toluca, IL: less expensive homes
- Henry, IL: less expensive homes
- Wenona, IL: less expensive homes
- La Rose, IL: higher priced homes
- Vermilionville, IL: less expensive homes
- Standard, IL: less expensive homes
Cities with Similar Populations
- Addor, NC: higher priced homes
- Airlie, VA: higher priced homes
- Armstrong, MO: equally priced homes
- Petros, TN: higher priced homes
- Point Peter, GA: higher priced homes
- Petway, TN: higher priced homes
- Peyton, MS: less expensive homes
- Phoenix, SC: higher priced homes
- Pike View, KY: less expensive homes
- Pine Hill, NY: higher priced homes
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