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
With a population of 234, 79 total housing units (homes and apartments), and a median house value of $192,993, Magnolia real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Magnolia, accounting for 88.54% of the town's housing units. Other types of housing that are prevalent in Magnolia include duplexes, homes converted to apartments or other small apartment buildings ( 9.38%), mobile homes or trailers ( 1.04%), and a few row houses and other attached homes ( 1.04%).
The most prevalent building size and type in Magnolia are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 63.29% owning and 36.71% renting.
The housing in Magnolia was primarily built before 1939 ( 63.54%), making the housing stock in Magnolia some of the oldest overall in America, although there is a range of ages of homes in Magnolia. The next most important housing age is between 1940-1969 ( 19.79%), followed by between 2000 and later ( 10.42%). There's also some housing in Magnolia built between 1970-1999 ( 6.25%).
Vacant housing appears to be an issue in Magnolia. Fully 17.71% 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.
Homes have actually lost value in Magnolia over the last then years, as home values have seen a decline of 23.37% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Magnolia home appreciation rates at 3.34%, which equates to an annual appreciation rate of 14.05%.
NeighborhoodScout's data show that during the latest twelve months, Magnolia's appreciation rate, at 3.39%, has been at or slightly above the national average. In the latest quarter, Magnolia's appreciation rate has been 3.34%, which annualizes to a rate of 14.05%.
Importantly, this makes Magnolia one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to Delaware, our data show that Magnolia's latest annual appreciation rate is lower than 60% of the other cities and towns in Delaware.
|$796,001 - $1,062,000||0.0|
|$531,001 - $796,000||0.8|
|$425,001 - $531,000||3.0|
|$319,001 - $425,000||15.2|
|$212,001 - $319,000||28.5|
|$106,001 - $212,000||29.0|
|$53,001 - $106,000||5.8|
|$0 - $53,000||17.7|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Magnolia HOMES|
|2000 or Newer||10.4|
|1970 - 1999||6.3|
|1940 - 1969||19.8|
|1939 or Older||63.5|
|TYPE OF Magnolia HOMES|
|Small Apt. Buildings||9.4|
|SIZE OF Magnolia HOMES|
|5 or more bedrooms||6.25|