Disclosed herein are magnetic materials comprising rare earth nitrides and, more particularly, magnetic materials comprising multilayer-structured materials comprising one relatively soft and one relatively hard magnetic layer. The magnetic materials comprise a first ferromagnetic layer, a second ferromagnetic layer, and a blocking layer between and in contact with each of the first 5 and second ferromagnetic layers. The first and second ferromagnetic layers have different coercive fields. The first ferromagnetic layer comprises a first rare earth nitride material and the second ferromagnetic layer comprises a second rare earth nitride material. Also disclosed are methods for preparing the materials. The materials are useful in the fabrication of devices, such as GMR magnetic field sensors, MRAM devices, TMR magnetic field sensors, and magnetic 10 tunnel junctions.