Housing costs in Magnolia?
A typical home costs
$252,400, which is 25.3% less expensive than the national average of
$338,100 and 41.6% less expensive than the average New Jersey home, at
$432,100. Renting a two-bedroom unit in Magnolia costs
$1,300 per month, which is 24.0% cheaper than the national average of
$1,710 and 13.1% cheaper than the state average of
$1,470.
Can I afford Magnolia?
To live comfortably in Magnolia (zip 08049), New Jersey, a minimum annual income of
$48,240 for a family, and
$43,200 for a single person is recommended.
What does A.I. say about Magnolia?
Living in 08049 Magnolia, NJ is not cheap. According to Zillow, the median home price for the area is $372,100 which is significantly higher than the median home price of $218,600 for New Jersey as a whole. Additionally, the median rent for a two-bedroom apartment in 08049 is $1,850 per month; again well above the state average of $1,605 per month. Food prices and transportation costs are also higher in Magnolia compared to state averages. Despite the high cost of living, Magnolia offers residents access to excellent schools and plenty of recreational activities to enjoy making it an attractive place live.