Murphy, TX Cost Of Living
Cost Of Living In Murphy, TX Summary
Cost of living in Murphy research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Murphy is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Texas, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Murphy is 127, with 100 being the average.
The cost of living index in Murphy is 1.3x higher than the national average.
Murphy ranks as the #391 cheapest in Texas out of 405.
Murphy ranks as the #5,140 cheapest out of 6,412 in the US.
The median home value in Murphy is $396,300.
The median income in Murphy is $147,257.
Table Of Contents
Murphy's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Murphy, TX?
According to the most recent data on the cost of living, Murphy has an overall cost of living index of 127, which is 1.3x higher than the national index of 100.
Compared to Texas, Murphy has a cost of living index that's 1.4x higher than Texas's index of 92.
The standard of living in Murphy ranks as #391 most affordable out of the 405 places we measured in Texas. By definition, that implies Murphy ranks as the #14 most expensive place in the Lone Star State.
For more reading on life in Murphy, check out:
- Living In Murphy
- Murphy Crime Report
- Search Homes For Sale In Murphy, TX
In Texas
In America
Murphy Cost Of Living Vs. Texas
Six factors go into calculating the cost of living index in Murphy. Here is how it fairs on each of the criteria:
The Services index in Murphy is 113.
The Groceries index in Murphy is 97.
The Health index in Murphy is 75.
The Housing index in Murphy is 182.
The Transportation index in Murphy is 97.
The Utilities index in Murphy is 111.
| Living Expense | Murphy | Texas | National Average | |
|---|---|---|---|---|
| Overall | 127 | 92 | 100 | |
| Services | 113 | 96 | 100 | |
| Groceries | 97 | 93 | 100 | |
| Health | 75 | 93 | 100 | |
| Housing | 182 | 84 | 100 | |
| Transportation | 97 | 92 | 100 | |
| Utilities | 111 | 104 | 100 | |
Murphy, TX Housing Cost Breakdown
Housing swings affordability the most between places in Texas, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Murphy is $396,300.
The Median Rent in Murphy is $2,213.
The Median Income in Murphy is $147,257.
The Home Value To Income in Murphy is 2.7x.
The Rent To Monthly Income in Murphy is 0.18x.
| Statistic | Murphy | Texas | United States |
|---|---|---|---|
| Median Home Value | $396,300 | $202,600 | $244,900 |
| Median Rent | $2,213 | $1,146 | $1,163 |
| Median Income | $147,257 | $67,321 | $69,021 |
| Home Value To Income | 2.7x | 3.0x | 3.5x |
| Rent To Monthly Income | 0.18x | 0.2x | 0.2x |
Median Home Value
Median Rent
Median Income
Murphy, TX Costs By Category
Detailed Murphy Services Costs Vs. Texas
Detailed Murphy Groceries Costs Vs. Texas
Detailed Murphy Health Costs Vs. Texas
Detailed Murphy Transportation Costs Vs. Texas
Detailed Murphy Utilities Costs Vs. Texas
Murphy SnackAbility
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Cost Of Living In Cities Around Murphy
The cost of living varies in the cities and towns around Murphy. Here's a quick look at the cost of living in the most populous nearby places:
Plano, TX has a cost of living index of 114, 0.9x Murphy.
Garland, TX has a cost of living index of 97, 0.8x Murphy.
Frisco, TX has a cost of living index of 120, 0.9x Murphy.
| City | Population | Cost Of Living | Vs. Murphy |
|---|---|---|---|
| Plano, TX | 282,181 | 114 | 0.9x |
| Garland, TX | 245,075 | 97 | 0.8x |
| Frisco, TX | 193,140 | 120 | 0.9x |
| McKinney, TX | 189,394 | 112 | 0.9x |
| Carrollton, TX | 131,388 | 105 | 0.8x |
| Richardson, TX | 115,904 | 110 | 0.9x |
| Allen, TX | 102,778 | 110 | 0.9x |
| Rowlett, TX | 62,606 | 105 | 0.8x |
| Wylie, TX | 55,426 | 104 | 0.8x |
| The Colony, TX | 43,489 | 102 | 0.8x |
