Market Overview
Home Prices in Murray, IA
The median home value in Murray, IA is $175,648 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 4.1% compared to a year ago and down 1.3% from two years prior.
Compared to the U.S. national median of $410,000, homes in Murray are priced57% below average.
Over the past five years, Murray home values have risen by approximately30.8%, reflecting strong long-term appreciation in this market.
Price History
Murray Home Price Trend
2020
$118,208
$118K
—
2021
$134,276
$134K
+13.6%
2022
$149,335
$149K
+11.2%
2023
$155,964
$156K
+4.4%
2024
$170,995
$171K
+9.6%
2025
$168,778
$169K
-1.3%
2026
$175,648
$176K
+4.1%
City Comparison
Murray vs. National Median
🏠 Murray
$175,648
National Median
$410,000
At $175,648, homes in Murray cost 57% below the national median of $410,000. This makes Murray a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Murray?
20% Down Payment
$35,130
on $175,648
Monthly P&I
$916/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,163/mo
incl. taxes & insurance
Income Needed
$46,520
gross annual (30% rule)
10% Down Option
$17,565
+ PMI applies
Loan Amount (20% dn)
$140,518
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Murray, IA?
The median home value in Murray is $175,648 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 4.1% year-over-year.
How much have home prices changed in Murray?
Over the past year, home values in Murray have increased by 4.1%. Over five years, prices have risen approximately 30.8%.
How much do I need to earn to buy a home in Murray?
To comfortably afford the median home price of $175,648 with a 20% down payment ($35,130) at today's rates (6.8%), you'd need a gross annual income of approximately $46,520. This assumes keeping total housing costs at or below 30% of gross income.
How does Murray compare to the national average home price?
The national median home value is approximately $410,000. At $175,648, homes in Murray are 57% below the national average.