Housing costs in Magnolia?
A typical home costs
$102,800, which is 69.6% less expensive than the national average of
$338,100 and 66.8% less expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Magnolia costs
$880 per month, which is 38.5% cheaper than the national average of
$1,430 and 40.9% cheaper than the state average of
$1,240.
Can I afford Magnolia?
To live comfortably in Magnolia (zip 56158), Minnesota, a minimum annual income of
$19,800 for a family, and
$26,800 for a single person is recommended.
What does A.I. say about Magnolia?
Living in 56158 Magnolia, MN, is relatively affordable compared to other places in the state. The average cost of living index is just over 90 which is lower than the US average of 100. Housing costs such as mortgages and rent are generally lower than other parts of Minnesota with an average home price of around $185,000. Utilities like electricity are also cheaper than average in this area. Tax rates are about average for the region and there are plenty of restaurants, shops, and entertainment options to keep residents occupied. Overall, 56158 Magnolia, MN is a great place to live at an affordable cost of living.