RJD2 released a compilation of instrumental versions of songs from the album in 2006, entitled Magnificent City Instrumentals. The track "A Beautiful Mine" was adapted as the opening theme of the AMC television series Mad Men.
At Metacritic, which assigns a weighted average score out of 100 to reviews from mainstream critics, Magnificent City received an average score of 81% based on 10 reviews, indicating "universal acclaim".
John Bush of AllMusic gave the album 4.5 stars out of 5, saying: "Ten years after West Coast rap began to slow down, Rjd2 shows he can interpret it for the 21st century, with huge hooks that draw listeners in, but clever productions that allow for all of Aceyalone's talents to shine through." Nathan Rabin of The A.V. Club gave the album a grade of A−, saying: "Aceyalone hasn't felt this vital in ages, and RJD2's creative winning streak continues unabated."