Magnetic Island, Australia

Full City Profile

4.4 /5.0

A Great

2,107 Population 7/sq mi density

66 ft Elevation 20 meters

76°F Avg Temperature 24°C

Overall

4.4 / 5.0

Strong

B+

Economy

3.7 / 5.0

$65,058 median income, 4.1% unemployment

A+

Affordability

5.0 / 5.0

$169,000 home value, $845/mo rent

Magnetic Island, Australia

At a Glance

Median Income

$65,058

13% below

$65,058 per capita

Home Value

$169,000

40% below

Median Rent

$845/mo

27% below

Unemployment

4.1%

14% above

Avg Temperature

76°F

332 sunny days/yr

Is Magnetic Island a Good Place to Live?

4.4 / 5.0 — Great

Based on economy, affordability, safety, and education metrics compared to national averages.

Economy & Jobs

Magnetic Island residents earn a median household income of $65,058 , which is 13% below the national average of $75,149. Per capita income is $65,058. The unemployment rate stands at 4.1% (14% above the U.S. rate of 3.6%). The area is home to 200 business establishments.

Housing & Cost of Living

The median home value in Magnetic Island is $169,000 , 40% below the national median of $281,900. Median rent is $845/month.

Climate & Weather

Magnetic Island has an average annual temperature of 76°F (24°C). Winters average 80°F in January while summers reach 70°F in July. The area gets 332 sunny days per year. Annual precipitation totals 49.2 inches.

Data Overview

People

Population2,107

Median Age37.5 yrs

Density7/mi²

Foreign Born30.0%

Economy

B+

Median Income$65,058

Per Capita$65,058

Unemployment4.1%

Poverty

Avg Weekly Wage$1,251

Housing

A+

Home Value$169,000

Rent$845

Ownership66.0%

Housing Units843

Climate

Avg Temp76°F

Sunny Days332/yr

Rain49.2 in/yr

Elevation66 ft

Did You Know?

30.0% of residents are foreign-born.