Magnolia, TX is a compelling place to live. With an average two bedroom rent of $1,380, it is more affordable than the US average of $1,430. Additionally, the Grocery Cost Index in Magnolia is 102 compared to 100 in the US. Local companies such as Magnolia Global Logistics and Magnolia Theatre Company offer plenty of opportunities for residents. All in all, people who choose to call Magnolia home will enjoy a good quality of life that includes affordable housing options and great local businesses.
Magnolia has an unemployment rate of 7.4%. The US average is 6.0%.
Magnolia has seen the job market increase by 3.2% over the last year. Future job growth over the next ten years is predicted to be 37.9%, which is higher than the US average of 33.5%.
Tax Rates for Magnolia
- The Sales Tax Rate for Magnolia is 7.3%. The US average is 7.3%.
- The Income Tax Rate for Magnolia is 0.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Magnolia
- The average income of a Magnolia resident is $24,220 a year. The US average is $28,555 a year.
- The Median household income of a Magnolia resident is $63,661 a year. The US average is $69,021 a year.