Magalia, California Real Estate & Housing Market

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Magalia Housing Information

Index	Magalia	California	National
Median home price	$154,700	$409,300	$184,700
Median rent asked	$1,087	$1,297	$949
Avg. people per household	2.7	3.0	2.6
Owner occupied households	78.4%	54.1%	63.6%
Renter occupied households	21.6%	45.9%	36.4%

A general summary of the real estate market in Magalia, CA is listed above. Properties in Magalia, CA average a cost of $154,700, which is 62% lower than the median home price for real estate located in California. This means that the region of Magalia, CA is, on average, more affordable when compared to the remainder of California. Since tenants living in Magalia, CA will pay an average of $1,087, the median rental cost is 16% lower than in California. 78.4% of people in Magalia, CA own their own homes, and an average of 2.7 people inhabit each property. Magalia, CA has many assorted real estate listings available. These range from urban townhouses to inexpensive condos to luxurious residences. We make finding homes for sale and browsing real estate listings effortless. Simply use the search function above, and obtain filtered results according to price, location, bathrooms and bedrooms.

Magalia Home Affordability

When starting your search for real estate in Magalia, CA, it is crucial to consider home affordability. When calculating home affordability, the ratio of home price to median household income is one of the methods that is applicable in doing so. On average, a home in Magalia, CA costs $154,700 while each household has an average income of $44,446. Consequently, the ratio of home price to household income is 3.5x; this ratio is 46% lower than the average in California. Calculating the home affordability ratio involves dividing the average price of a home by the average income of homes in Magalia, CA. When the ratio of home price to income is relatively low, the implication is that homes are more affordable on the basis of the home price in comparison with the home income. Note that besides home price to median household income ratio, there are various other factors to put into consideration when determining if home affordability exists. Check the home affordability calculator shown below to calculate how much you can afford to pay for real estate in Magalia, CA.

Nearby cities with low home prices

City, State	Population	Home Price	National Avg.
Stirling City, CA	186	$0	100%
Yankee Hill, CA	317	$147,400	20%
Cherokee, CA	103	$151,800	18%
Berry Creek, CA	1,133	$185,300	0%
Concow, CA	679	$198,900	8%
Magalia, CA	11,862	$154,700	16%

Cities with similar population

City, State	Population	Home Price	National Avg.
Travilah, MD	11,858	$1,055,400	471%
North Wantagh, NY	11,856	$396,500	115%
Weatherford, OK	11,856	$153,600	17%
Shepherdsville, KY	11,869	$128,400	30%
Kelso, WA	11,871	$120,700	35%
Magalia, CA	11,862	$154,700	16%

Source: The Magalia, CA housing data displayed above is derived from the 2016 United States Census Bureau American Community Survey (ACS).