Magnolia, TX is a small city in Montgomery county with an estimated population of 1,814. The average 2 bedroom rent in Magnolia is $1,310, which is slightly lower than the US average of $1,430. Additionally, Magnolia has a Grocery Cost Index of 101 versus 100 in the US. This makes living costs more affordable in Magnolia than the rest of the country.
Magnolia provides its residents with a variety of employment opportunities at companies such as Chevron Phillips Chemical Company LP and Alspaugh's Ace Hardware & Outdoor Power Equipment. Additionally, many businesses related to oil and gas development are located in and around Magnolia such as Husky Oilfield Services LLC and Geophysical Logging Solutions LLC .
Overall, while Magnolia may be a small town its cost of living is very competitive when compared to other cities in the US. With low rent prices and a grocery cost index that is slightly lower than the national average, Magnolia offers an attractive option for those looking to move out of the city but still have access to quality jobs.
Magnolia (zip 77355) has an unemployment rate of 7.4%. The US average is 6.0%.
Magnolia (zip 77355) has seen the job market decrease by -5.6% 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 77355)
- The Sales Tax Rate for Magnolia (zip 77355) is 7.3%. The US average is 7.3%.
- The Income Tax Rate for Magnolia (zip 77355) 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 77355)
- The average income of a Magnolia (zip 77355) resident is $39,551 a year. The US average is $37,638 a year.
- The Median household income of a Magnolia (zip 77355) resident is $97,440 a year. The US average is $69,021 a year.