77354 Magnolia, TX is a suburban community in Montgomery County, Texas. As of 2020, the population was about 13,400 people. The average rent for a two bedroom apartment in Magnolia is $1,440 per month, which is slightly higher than the US national average of $1,430 per month. In addition to housing costs, the cost of living index in Magnolia is 102 versus 100 for the rest of the United States.
The area offers plenty of opportunities for fun and entertainment as well as employment. Major employers include Houston Independent School District (HISD), Tomball Regional Hospital and Scott Electric Company Inc., all of which have their headquarters in Magnolia. The local economy is also supported by a variety of small businesses such as grocery stores, restaurants and shops. Many commuters travel to Houston for work each day due to its close proximity to the city. Overall, 77354 Magnolia provides a high quality of life with relatively low costs compared to larger cities like Houston.
Magnolia (zip 77354) has an unemployment rate of 7.4%. The US average is 6.0%.
Magnolia (zip 77354) 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 (zip 77354)
- The Sales Tax Rate for Magnolia (zip 77354) is 7.3%. The US average is 7.3%.
- The Income Tax Rate for Magnolia (zip 77354) 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 (zip 77354)
- The average income of a Magnolia (zip 77354) resident is $33,591 a year. The US average is $28,555 a year.
- The Median household income of a Magnolia (zip 77354) resident is $99,533 a year. The US average is $69,021 a year.