Home Values in Murray, Utah — 2026 Market Report
Updated March 2026 | Balanced Market | +4.1% YoY
The median home value in Murray, Utah is $435,000 as of March 2026, which is above the national median of $400,000. Home values in Murray have increased by 4.1% over the past year and 22.3% over the last five years. With a population of 50,637 and a median household income of $62,250, the price-to-income ratio stands at 7.0x, making Murray affordable for the average household.
Murray Housing Market Conditions
| Metric | Murray | National Avg |
|---|---|---|
| Median Home Value | $435,000 | $400,000 |
| YoY Appreciation | +4.1% | +3.8% |
| 5-Year Appreciation | +22.3% | +22.4% |
| Price per Sq Ft | $179 | $222 |
| Days on Market | 37 days | 45 days |
| Months of Supply | 3.9 | 3.5 |
| List-to-Sale Ratio | 98.1% | 98.5% |
| Monthly Homes Sold | 51 | — |
| Foreclosure Rate | 0.51% | 0.3% |
Home Value Trends in Murray
A homeowner who purchased at the median price of $355,683 five years ago in Murray would have gained approximately $79,317 in equity, representing a 22.3% return on investment. Over the past year alone, the typical homeowner gained $17,133 in home equity.
Affordability in Murray, UT
With a median household income of $62,250 and a median home price of $435,000, the price-to-income ratio in Murray is 7.0x. A ratio below 3x is generally considered affordable, while above 5x indicates significant affordability challenges. The average monthly rent of $2,539 compared to estimated monthly ownership costs of $2,276 gives a rent-vs-buy ratio of 0.90. In Murray, buying is currently competitive with renting when factoring in equity accumulation.
Property Taxes in Murray
The effective property tax rate in Utah is 0.58%. On a home valued at $435,000, the estimated annual property tax bill is $2,523, or approximately $210/month. Property taxes are an important factor in the total cost of homeownership and can significantly impact affordability. The cost of living index in Murray is 100.5 (100 = national average), indicating living costs are near the national average.
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Open Mortgage CalculatorFrequently Asked Questions
What is the median home value in Murray, UT?
The median home value in Murray, Utah is $435,000 as of March 2026. Home values have changed +4.1% over the past year, with a 5-year appreciation of 22.3%.
Is Murray a buyer's or seller's market?
Murray is currently a balanced market with 3.9 months of housing supply. Homes spend an average of 37 days on market, and the list-to-sale price ratio is 98.1%. Supply and demand are relatively balanced.
Are home values going up in Murray?
Yes, home values in Murray have increased by 4.1% over the past year. The 5-year appreciation rate is 22.3%, meaning a home worth $355,683 five years ago is now worth $435,000.
Is it better to rent or buy in Murray?
The average monthly rent in Murray is $2,539, while estimated monthly homeownership costs are approximately $2,276. The price-to-rent ratio is 14.3. Based on current conditions, buying may be more cost-effective than renting in this market.
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Disclaimer: Home value data for Murray, Utah 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.