Home Values in Murfreesboro, Tennessee — 2026 Market Report
Updated March 2026 | Balanced Market | +3.2% YoY
The median home value in Murfreesboro, Tennessee is $365,000 as of March 2026, which is near the national median of $400,000. Home values in Murfreesboro have increased by 3.2% over the past year and 17.1% over the last five years. With a population of 152,769 and a median household income of $58,250, the price-to-income ratio stands at 6.3x, making Murfreesboro affordable for the average household.
Murfreesboro Housing Market Conditions
| Metric | Murfreesboro | National Avg |
|---|---|---|
| Median Home Value | $365,000 | $400,000 |
| YoY Appreciation | +3.2% | +3.8% |
| 5-Year Appreciation | +17.1% | +22.4% |
| Price per Sq Ft | $135 | $222 |
| Days on Market | 45 days | 45 days |
| Months of Supply | 3.8 | 3.5 |
| List-to-Sale Ratio | 101.9% | 98.5% |
| Monthly Homes Sold | 138 | — |
| Foreclosure Rate | 0.5% | 0.3% |
Home Value Trends in Murfreesboro
A homeowner who purchased at the median price of $311,699 five years ago in Murfreesboro would have gained approximately $53,301 in equity, representing a 17.1% return on investment. Over the past year alone, the typical homeowner gained $11,318 in home equity.
Affordability in Murfreesboro, TN
With a median household income of $58,250 and a median home price of $365,000, the price-to-income ratio in Murfreesboro is 6.3x. A ratio below 3x is generally considered affordable, while above 5x indicates significant affordability challenges. The average monthly rent of $1,872 compared to estimated monthly ownership costs of $1,935 gives a rent-vs-buy ratio of 1.03. In Murfreesboro, buying is currently competitive with renting when factoring in equity accumulation.
Property Taxes in Murfreesboro
The effective property tax rate in Tennessee is 0.66%. On a home valued at $365,000, the estimated annual property tax bill is $2,409, or approximately $201/month. Property taxes are an important factor in the total cost of homeownership and can significantly impact affordability. The cost of living index in Murfreesboro is 92.5 (100 = national average), indicating living costs are below the national average.
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Open Mortgage CalculatorFrequently Asked Questions
What is the median home value in Murfreesboro, TN?
The median home value in Murfreesboro, Tennessee is $365,000 as of March 2026. Home values have changed +3.2% over the past year, with a 5-year appreciation of 17.1%.
Is Murfreesboro a buyer's or seller's market?
Murfreesboro is currently a balanced market with 3.8 months of housing supply. Homes spend an average of 45 days on market, and the list-to-sale price ratio is 101.9%. Supply and demand are relatively balanced.
Are home values going up in Murfreesboro?
Yes, home values in Murfreesboro have increased by 3.2% over the past year. The 5-year appreciation rate is 17.1%, meaning a home worth $311,699 five years ago is now worth $365,000.
Is it better to rent or buy in Murfreesboro?
The average monthly rent in Murfreesboro is $1,872, while estimated monthly homeownership costs are approximately $1,935. The price-to-rent ratio is 16.2. Based on current conditions, buying may be more cost-effective than renting in this market.
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Related Resources
Disclaimer: Home value data for Murfreesboro, Tennessee is based on publicly available market data and estimates. Actual home values may vary based on property condition, location within the city, and current market conditions. Data is updated regularly but may not reflect the most recent transactions. Last updated: March 2026.