Rents are 8% below what Magnolia's 10-year trend predicts — a better deal than its own history suggests.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,907 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
Rent in Magnolia is 1.9% below its high of $1,944 in November 2025, at $1,907 as of September 2026.
Rent in Magnolia changed -0.8% over the year to September 2026. Across the 224 Texas cities Zillow tracks, the typical change was +1.0%.
Rent rose in 4 of the last 12 months.
30% of the median household income ($78,605) is $1,965 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,520); a 3-bedroom is $2,030.
Waller, 12 miles away, rents for 20% less ($1,531/mo), about $4,500 a year in savings.
From Zillow's monthly rent index (ZORI) for Magnolia. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
Magnolia, TX is majority owner-occupied, skews toward younger working-age adults, 26.9% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Magnolia, TX has changed in 5 years
Since 2022, the typical rent in Magnolia, TX has climbed from $1,658 to $1,907, a 15.0% change over five years. Median household income rose from $63,661 to $78,605 between 2021 and 2024, a 23.5% shift. On paper, paychecks moved up faster than rent, which softens the affordability squeeze versus the 2021 baseline. The population has grown by 76.6% since 2021, moving from about 2,303 residents to roughly 4,068. Renters now make up 35.9% of households, compared with 42.4% five years ago. Taken together, the five-year picture in Magnolia, TX reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.
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Can you afford rent in Magnolia on your salary?
At $1,907/mo, how Magnolia rent compares to typical pay (30% rule).
Magnolia rent by bedroom count
Median rent for each apartment size in Magnolia. Click any size for full breakdown.
Tips for renters in Magnolia
Last updated: October 17, 2026
The median rent in Magnolia is $1,907/mo as of October 2026. A studio apartment averages $1,220/mo while a 2-bedroom runs $1,520/mo. One-bedroom apartments average $1,270/mo and 3-bedroom units go for $2,030/mo.
At 29% of local median household income ($78,605/yr), Magnolia ranks as affordable compared to the national benchmark of 30%. Rents have decreased 0.8% over the past year.
Frequently asked questions
How much income do you need to rent in Magnolia?
Is rent going up or down in Magnolia?
How does Magnolia rent compare to other cities in Texas?
Which nearby cities are cheaper to rent in than Magnolia?
At $1,907/mo, rent takes ~29% of Magnolia's median household income ($78,605/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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