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These days, finding an affordable place to live in the Murphy City area can be challenging. Home prices in Murphy City are now at a median cost of $320,592, lower than the Minnesota average of $345,793.
The average cost of rent is $731/mo in Murphy City, primarily driven by the current value of real estate in the Murphy City area. In Murphy City, 6.01% of households rent, and 60.64% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Murphy City is $6,982 per month. Households that rent pay about 10.47% of their income on rent here. Murphy City’s most expensive areas are in the central regions, while the cheapest areas are in the eastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
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