Housing costs in Magnolia?
A typical home costs
$94,200, which is 72.1% less expensive than the national average of
$338,100 and 51.7% less expensive than the average Iowa home, at
$194,900. Renting a two-bedroom unit in Magnolia costs
$890 per month, which is 37.8% cheaper than the national average of
$1,430 and 4.5% cheaper than the state average of
$930.
Can I afford Magnolia?
To live comfortably in Magnolia, Iowa, a minimum annual income of
$18,000 for a family, and
$29,200 for a single person is recommended.
What does A.I. say about Magnolia?
The cost of living in Magnolia, IA is very affordable. According to BestPlaces, the cost of living index is 57.94, making it 2.6% cheaper than the US average. The average rent for a one-bedroom apartment is $450 and groceries are generally inexpensive at 8.76% lower than the national average. Utilities like electricity and water are also very reasonably priced, with the average electricity bill being around $75 a month and the average water bill around $30 a month. Additionally, property taxes in Magnolia are among some of the lowest in the nation at 0.58%. All things considered, the low cost of living makes Magnolia an attractive place to live for those looking for an affordable lifestyle without sacrificing amenities or quality of life.