Market Overview
Home Prices in Murphy, TX
The median home value in Murphy, TX is $580,424 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's down 4.7% compared to a year ago and down 3.8% from two years prior.
Compared to the U.S. national median of $410,000, homes in Murphy are priced42% above average. Murphy is part of the Dallas-Fort Worth-Arlington, TX metro area.
Over the past five years, Murphy home values have risen by approximately21.6%, reflecting strong long-term appreciation in this market.
Price History
Murphy Home Price Trend
City Comparison
Murphy vs. National Median
At $580,424, homes in Murphy cost 42% above the national median of $410,000. Buyers in Murphy should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Murphy?
20% Down Payment
$116,085
on $580,424
Monthly P&I
$3,027/mo
30-yr @ 6.8%
Total Monthly Est.
~$3,844/mo
incl. taxes & insurance
Income Needed
$153,760
gross annual (30% rule)
10% Down Option
$58,042
+ PMI applies
Loan Amount (20% dn)
$464,339
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, TX?
The median home value in Murphy is $580,424 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's down 4.7% year-over-year.
How much have home prices changed in Murphy?
Over the past year, home values in Murphy have decreased by 4.7%. Over five years, prices have risen approximately 21.6%.
How much do I need to earn to buy a home in Murphy?
To comfortably afford the median home price of $580,424 with a 20% down payment ($116,085) at today's rates (6.8%), you'd need a gross annual income of approximately $153,760. 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 $580,424, homes in Murphy are 42% above the national average.
What metro area is Murphy part of?
Murphy is part of the Dallas-Fort Worth-Arlington, TX metropolitan area. Home prices and market conditions can vary across the broader metro region.