Magna is a mid-sized city located in the state of Utah. The city has a population of 27,553 people. Magna has a population density of 3,512 people per square mile. This would be considered well above the national population density level. If we look at the most recent Census, Magna is known to have a predominantly White population. The next two most common races are Asian and American Indian and Alaskan. Additionally, more than a quarter of the population of Magna are of Hispanic or Latino origin, and 20% of the population also speak Spanish. The median age of all Magna residents is 30, which is well below the national average. This is a good indication that this city could be ideal for young singles. If you are looking for a family friendly city, Magna might be a good fit as 71% of the population over 15 years old are married, and 44% have kids who are 18 years old or younger.
Are you trying to ascertain if living in Magna is the right fit for your lifestyle? To ensure a positive experience before relocating to any new city in Utah, you will probably want to make sure that you check all of the most important boxes. Using the livability score which includes data from categories like crime, weather, education, employment, housing, you can easily compare the best places to live in Magna and also determine if there are any nearby cities that might be a better match for your lifestyle. You can also compare Magna to Utah and the national average.
With a livability score of 63/100, Magna is ranked #20,114 in the United States and #230 in Utah. If we probe a little deeper into each category within the livability score, we see that Magna has higher than average grades for the following: housing (B+). The bad news for Magna, there are some categories for which it does not rank well, this includes: crime (D-), education (F) and employment (D).
Based on multiple factors including: median home and rental prices, appreciation rates and home affordability, Magna has received high marks in the housing category. Based on these calculations, the apartment rental and real estate market appears to be very healthy.
Assuming that Magna meets all of your requirements, the next most important item to examine is the affordability of real estate in Magna. Everything else becomes a lot less important if it turns out that home prices in Magna are simply unattainable. Median real estate prices in Magna come in at $150,600, which is 32.9% lower than the Utah average. The home price to income ratio compares the median home prices to the median household income. In Magna, the home price to income ratio is 2.7, which is 25% lower than the Utah average. Year over year appreciation rates for homes in the Magna area were 17.4% and the 5 year appreciation rates came in at 10.8%. Why is this important? Knowing the appreciation rates for any area is a quick and easy way to determine if you will see a solid return on your investment.