Murray, Utah Housing Market Prices
Murray Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 13% above the Utah median$564,848
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Median rent 2% above the Utah median$1,526
Housing Market Overview
| Metric | Murray | Utah Avg | US Average |
|---|---|---|---|
| Median Home Price | $564,848 | $498,552 | $248,835 |
| Price Trend (Annual %) | 10.9% | 11.3% | 7.5% |
| Median Gross Rent | $1,526 | $1,495 | $1,407 |
| Rent Trend (Annual %) | 5.8% | 6.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Murray is about 13% higher than in Utah. Rent is about 2% higher than the Utah average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Murray, up about 10.9% and 5.8% a year respectively. Home prices are changing faster.
Median rent in Murray rose about 64.3% between 2015 and 2024, from $929 to $1,526. Over the same span, rent in Utah rose about 68.7%.
Affordability
On average, housing unit costs 6.5 yearly household incomes in Murray.
Buying the median-priced home in Murray costs roughly 30.8 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Murray. The price-to-rent ratio in Utah is about 27.8.
| Metric | Murray | Utah Avg | US Average |
|---|---|---|---|
| Median Home Price | $564,848 | $498,552 | $248,835 |
| Median Household Income | $87,531 | $95,466 | $80,455 |
| Price-to-Income Ratio | 6.5 | 5.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Murray rose about 149.7%, while median household income rose about 48.6% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Murray | Utah Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 59.4% | 64.6% | 58.5% |
| Rental Rate | 35.9% | 27.3% | 31.2% |
| Vacancy Rate | 4.7% | 8.1% | 10.2% |
| Median Tenure (years) | 13.0 | 13.0 | 15.0 |
| Median Year Moved In | 2013 | 2013 | 2011 |
Murray has a homeownership rate of 59.4%, lower than the Utah average of 64.6%. Its housing vacancy rate is 4.7%, compared with 8.1% in Utah.
Housing Stock
| Metric | Murray | Utah Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.41 people | 2.97 people | 2.53 people |
| Median Structure Built Year | 1980 | 1989 | 1978 |
| Median Number of Rooms | 5.8 | 6.4 | 5.5 |
The typical housing unit in Murray was built around 1980. On average, 2.4 people live in a home with about 5.8 rooms, staying for about 13.0 years on average.
Murray, UT Housing Compared With Nearby Cities
Murray, UT is typical in size for this group, 50,269 residents against a local median of 54,009, so the measures below are close to a like for like comparison. Murray, UT sits close to the middle of its own neighbourhood. No measure below is more than 15% off the local median, so the choice between these cities turns on things this data does not capture.
The largest of those small differences is median home price, 6% above the local median at $564,848 against $534,801. Murray, UT has the 2nd highest median home price of the 4 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Murray, UT | 50,269 | $564,848 #2/4 | $1,526 #2/4 | 62.3% #2/4 |
| Midvale, UT | 34,643 | $410,494 | $1,584 | 43.1% |
| Taylorsville, UT | 61,499 | $534,801 | $1,495 | 69.5% |
| Millcreek, UT | 54,009 | $693,896 | $1,518 | 61.8% |
Frequently Asked Questions
Common questions about the housing market in Murray, Utah.
What is the median home price in Murray, Utah?
The median home price in Murray, Utah is $564,848, higher than the Utah average of $498,552.
What is the average home price in Murray, Utah?
The typical home price in Murray, Utah, reported as the median sale price, is $564,848. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Murray, Utah?
The median gross rent in Murray, Utah is $1,526 per month, higher than the Utah average of $1,495.
What was the median gross rent in Murray in 2020?
In 2020, the median gross rent in Murray, Utah was $1,163 per month.
What is the price-to-rent ratio in Murray, Utah?
The price-to-rent ratio in Murray, Utah is about 30.8, meaning it would take roughly 30.8 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Murray.
Are home prices or rent rising faster in Murray, Utah?
Both home prices and rent are rising in Murray, up about 10.9% and 5.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Murray, Utah?
59.4% of households in Murray, Utah own their home, lower than the Utah average of 64.6%.
What is the vacancy rate in Murray, Utah?
The housing vacancy rate in Murray, Utah is 4.7%, lower than the Utah average of 8.1%.
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