Cost of Living in Magnolia, TX

With a cost of living index of 94, Magnolia, TX is slightly more affordable than average. Living here is 6% cheaper than the national average and 6% above the Texas state average of 88. Magnolia is a small community of 3,230 residents.

Housing costs are the biggest factor in Magnolia's cost of living. The median monthly rent is $1,172 (11% below the US median of $1,319), and the median home value sits at $285,200 (6% below the national median of $304,900). At current prices, the median home costs roughly 4x the median household income — a moderately affordable ratio by today's standards.

The median household income in Magnolia is $70,516, which is 6% lower than the national median of $75,149. Residents spend roughly 20% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Climate is another factor for anyone considering a move to Magnolia. The area sees an average annual temperature of 69.8°F, with summers averaging 84°F and winters around 55°F. Annual rainfall totals 50.8 inches spread over roughly 122 days.

Everyday prices in the Houston-Pasadena-The Woodlands, TX (Metropolitan Statistical Area) metro area tend to run above the national average. Out of 6 common grocery and utility items tracked by the Bureau of Labor Statistics, 5 are priced higher than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.