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These days, finding an affordable place to live in the Malaga area can be challenging. Home prices in Malaga are now at a median cost of $300,344, lower than the New Jersey average of $496,577.
The average cost of rent is $1,337/mo in Malaga, primarily driven by the current value of real estate in the Malaga area. In Malaga, 22.61% of households rent, and 36.20% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Malaga is $9,124 per month. Households that rent pay about 14.65% of their income on rent here. Malaga’s most expensive areas are in the southwestern 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
- Newfield, NJ: less expensive homes
- Iona, NJ: equally priced homes
- Franklinville, NJ: higher priced homes
- Norma, NJ: equally priced homes
- Elmer, NJ: equally priced homes
- Greenville, NJ: higher priced homes
- Centerton, NJ: equally priced homes
- Clayton, NJ: less expensive homes
- Victory Lakes, NJ: less expensive homes
- Friendship, NJ: less expensive homes
Cities with Similar Populations
- Bayboro, NC: less expensive homes
- Romulus, NY: less expensive homes
- Huttonsville, WV: less expensive homes
- Port Barrington, IL: higher priced homes
- Penrose, NC: equally priced homes
- Paris, MI: less expensive homes
- Morningside, MD: higher priced homes
- Monponsett, MA: higher priced homes
- Magnolia, KY: less expensive homes
- Lummi Island, WA: higher priced homes
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