Quick facts: Magnolia, AR

Quick Facts

92.5
Cost of Living
below US average
10,780
Population
28.85
Crime Rate per 1000
above US average
$43,000
Median Income
below US average
$180,000
Median House Price
above US average
$1087.5
Average Rent
below US average
17%
Poverty Rate
above US average
3.5%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $43,000.

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Income Needed to Buy

βœ— Stretch
$56k/year
Based on $180,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $56k vs median $43,000
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Income Needed to Rent

⚠ Stretch
$47k/year
Based on $1087.5/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $47k vs median $43,000
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Magnolia, AR

Magnolia is a charming city located in southern Arkansas, serving as the county seat of Columbia County. Known for its rich history and vibrant community, Magnolia boasts a population of around 11,000 residents. The city is surrounded by beautiful natural landscapes, including lush forests and scenic parks, making it an excellent spot for outdoor activities. Magnolia is often referred to as the "Queen City of the Woodland," reflecting its picturesque settings. One of its notable attractions is the Magnolia Blossom Festival, which celebrates the city’s namesake flower and features live music, arts and crafts, and a parade. The city is also home to Southern Arkansas University, providing educational opportunities and contributing to the local economy. With a blend of historic sites, such as the Columbia County Courthouse and various museums, Magnolia offers a warm, welcoming atmosphere and a close-knit community spirit, making it a great place to visit or call home. Whether you're interested in exploring nature or engaging in local events, Magnolia has something for everyone.

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