Cost of Living in Murphy, TX: Rent, Income & Home Prices

CheapRent takes 19 cents of every $1 people earn here.

🏠 Rent per month (2026)$2,99671% higher than U.S. average

💵 Families earn per year (2026)$189,491about $15,791/month · 118% higher than U.S. average

🔑 House price$555,50067% higher than U.S. average

Rent here is among the highest 10% in the country. Household incomes are higher than in 96% of U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards. Commutes are long, about 32.2 minutes each way. Most homes (93.7%) are owned, so rentals can be hard to find. It is a highly educated city: 62.1% of adults have a college degree.

How much money do I need?

To rent here comfortably, you should earn about $119,840 a year. That is $58 an hour at a full-time job.

Is rent cheaper than other Texas cities?

No. Rent here is more expensive than in most of Texas. It is number 414 of 426 cities from cheapest to most expensive.

Murphy

$2,996

$1,086

$1,303

$1,558

$1,604

$1,755

$853

How much do households earn in Murphy?

Under $25k

2.9%

$25k–50k

8.3%

$50k–100k

15.5%

$100k–150k

31.8%

$150k+

41.8%

Share of households by yearly income. 73.7% of households earn $100,000 or more.

How expensive is Murphy overall?

Everyday prices in Texas overall are 3% below the U.S. average (index 97.1, U.S. = 100).

Housing

Goods (food, clothes…)

Utilities

Other services

U.S. average

100

Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Murphy, so the Texas figure is shown.

Taxes and bills in Murphy

🏛️ Property tax$8,835a year · 1.59% of home value · U.S. $3,119

⚡ Electric bill$240a month (typical) · U.S. $156

Life in Murphy

Commute to work32.2 minU.S.: 26.4 min

College degree62.1%U.S.: 35.7%

Own their home93.7%U.S.: 65.2%

Below poverty line3%U.S.: 12.5%

Unemployment4.2%U.S.: 5.2%

Is it cheaper to rent or buy in Murphy?

Renting is cheaper right now: about $858 a month less.

Renting

$2,996

Owning

$3,854

Owning assumes a typical $555,500 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $55,550 for the down payment.

Frequently asked questions

What is the average rent in Murphy, TX?

Renting in Murphy costs a median of about $2,996 a month in 2026, including utilities. The Texas median is $1,451.

How much do I need to make to live in Murphy?

To keep rent under 30% of income, you need about $119,840 a year, or $58 an hour at a full-time job.

Is Murphy cheap or expensive?

Murphy is rated Cheap: rent takes 19.0% of the typical household income of $189,491. It ranks 414th cheapest of 426 Texas cities we track.

How much are property taxes in Murphy?

The median homeowner in Murphy pays $8,835 a year in property taxes, about 1.59% of the median home value.

Is Murphy more expensive than the national average?

Overall prices in Texas are 3% below the U.S. average, according to the U.S. Bureau of Economic Analysis.

How much does a house cost in Murphy?

The median home value in Murphy is $555,500, about 2.9 times the typical yearly household income.

21,188 people live in Murphy. Numbers are typical (middle) values.

Is Murphy, TX expensive to live in?