Market Overview
Home Prices in Murphy, NC
The median home value in Murphy, NC is $283,252 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 0.1% compared to a year ago and down 0.4% from two years prior.
Compared to the U.S. national median of $410,000, homes in Murphy are priced31% below average.
Over the past five years, Murphy home values have risen by approximately32.4%, reflecting strong long-term appreciation in this market.
Price History
Murphy Home Price Trend
2020
$170,318
$170K
—
2021
$213,861
$214K
+25.6%
2022
$263,556
$264K
+23.2%
2023
$268,521
$269K
+1.9%
2024
$283,994
$284K
+5.8%
2025
$282,939
$283K
-0.4%
2026
$283,252
$283K
+0.1%
City Comparison
Murphy vs. National Median
🏠 Murphy
$283,252
National Median
$410,000
At $283,252, homes in Murphy cost 31% below the national median of $410,000. This makes Murphy a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Murphy?
20% Down Payment
$56,650
on $283,252
Monthly P&I
$1,477/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,876/mo
incl. taxes & insurance
Income Needed
$75,040
gross annual (30% rule)
10% Down Option
$28,325
+ PMI applies
Loan Amount (20% dn)
$226,602
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 Murphy, NC?
The median home value in Murphy is $283,252 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 0.1% year-over-year.
How much have home prices changed in Murphy?
Over the past year, home values in Murphy have increased by 0.1%. Over five years, prices have risen approximately 32.4%.
How much do I need to earn to buy a home in Murphy?
To comfortably afford the median home price of $283,252 with a 20% down payment ($56,650) at today's rates (6.8%), you'd need a gross annual income of approximately $75,040. This assumes keeping total housing costs at or below 30% of gross income.
How does Murphy compare to the national average home price?
The national median home value is approximately $410,000. At $283,252, homes in Murphy are 31% below the national average.