Housing costs in Magnolia?
A typical home costs
$241,500, which is 28.6% less expensive than the national average of
$338,100 and 44.1% less expensive than the average New Jersey home, at
$432,100. Renting a two-bedroom unit in Magnolia costs
$1,240 per month, which is 13.3% cheaper than the national average of
$1,430 and 37.9% cheaper than the state average of
$1,710.
Can I afford Magnolia?
To live comfortably in Magnolia, New Jersey, a minimum annual income of
$46,440 for a family, and
$41,200 for a single person is recommended.
What does A.I. say about Magnolia?
The cost of living in Magnolia, NJ is relatively high. The median household income is $93,280 and the median home value is $301,945. The median rent for an apartment is $1,541 per month. Goods and services are generally priced slightly higher than the national average. Transportation costs can also be quite expensive as most people rely on private cars to get around town due to the lack of public transportation options. However, with its close proximity to major cities such as Philadelphia and New York City, it can be a great option for those looking for a suburban lifestyle but still want access to big city amenities.