Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 535 people, 278 houses or apartments, and a median cost of homes of $234,848, house prices in Magnolia are solidly below the national average.
Single-family detached homes are the single most common housing type in Magnolia, accounting for 97.54% of the town's housing units. Other types of housing that are prevalent in Magnolia include mobile homes or trailers ( 2.46%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Magnolia. Owner-occupied housing accounts for 85.61% of Magnolia's homes, and 70.15% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Magnolia built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Magnolia built between 1940-1969 ( 24.92%). A lesser amount of the housing stock also hails from between 2000 and later ( 21.85%). There's also some housing in Magnolia built before 1939 ( 15.08%).
Vacant housing appears to be an issue in Magnolia. Fully 14.46% of the housing stock is classified as vacant. Left unchecked, vacant Magnolia homes and apartments can be a drag on the real estate market, holding Magnolia real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Appreciation rates for homes in Magnolia have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 108.25%, which ranks in the top 30% nationwide. This equates to an annual average Magnolia house appreciation rate of 7.61%.
Over the last year, Magnolia appreciation rates have trailed the rest of the nation. In the last twelve months, Magnolia's appreciation rate has been 3.01%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Magnolia were at -0.58%, which equates to an annual appreciation rate of -2.28%.
Notably, Magnolia's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Kentucky, our data show that Magnolia's latest annual appreciation rate is lower than 90% of the other cities and towns in Kentucky.
$234,848
for Kentucky
for nation
278
$1,303 / per month