Cost of Living in Magnolia, AR
Housing
The housing market plays a significant role in determining the cost of living in Magnolia, AR.
- Housing Index: 85.0 / 100
- Median Home Price is: $120,000
- Average Rent (2 BR Apartment): $751 per month
- Average Rent (2 BR House): $816 per month
When considering a move to Magnolia, AR, the current housing index is quite favorable at 85.0. With a median home price of 120000, it's relatively affordable compared to many other areas, offering potential homeowners a more accessible entry point. The average rent for a 2-bedroom apartment stands at 751, while renting a 2-bedroom house typically costs around 816. This aligns well with the national trends, where the housing market continues to evolve. Make sure to weigh these factors against your personal financial situation and lifestyle preferences.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Magnolia, AR.
- Electricity Price: $12.36 USD (median by state)
- Natural Gas Price: $17.08 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $200 per month
Living in Magnolia, AR could entail higher utility costs. Electricity costs sit at $12.36, while natural gas is priced at $17.08 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $200 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Magnolia is a financially viable option for your relocation.