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The total population of Magnolia is estimated to be 4,342 with 2,138 males (49.24%) and 2,204 females (50.76%). There are 66 more females than males in Magnolia.
The median household income in Magnolia was $72,595 in 2021, which marked an a decrease of 2,325(3.10%) from $74,920 in 2020. This income is 97.30% of the U.S. median household income of $74,606 (all incomes in 2022 inflation-adjusted dollars).
Per the latest American Community Survey by the Census Bureau, Magnolia sees its highest median household income among householders in the age group of 45 to 64 years old, at $94,996. Overall, the median household income for the borough of Magnolia stands at $72,595.
In Magnolia, the median income for all workers aged 15 years and older, regardless of work hours, was $40,190 for males and $26,895 for females. However, when specifically considering full-time, year-round workers within the same age group, the median income was $63,094 for males and $56,072 for females.
In Magnolia, there are just three different racial groups among households. Among these, Asian households report a median household income of $104,231, followed by Black or African American households at $84,999, and White households with a median household income of $71,582.
In 2022, the population of Magnolia was 4,340, a 0.02% decrease year-by-year from 2021. Previously, in 2021, Magnolia's population was 4,341, a decline of 0.05% compared to a population of 4,343 in 2020.
The median age in Magnolia, NJ is 35.4, as per 2021 ACS 5-Year Estimates. Of the total population, 15.08% were under the age of 15, 22.04% aged 15 to 29, 47.68% aged 30 to 64, 14.99% aged 65 to 84, and 0.21% were 85 years of age and older.
Racial distribution of Magnolia population: 68.15% are White, 16.03% are Black or African American, 7.76% are Asian, 4.11% are some other race and 3.95% are multiracial.