Murray, KY—42071
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Murray, KY
As of Oct '25, the median home price in Murray, KY is $176,000, with a year-over-year change of -0.8%. This indicates that home prices in Murray, KY are flat. According to Zillow, the 1-year price projection is -5.8%, suggesting a decrease housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $176,000 | -0.8% |
| Single Family | $176,000 | -3.3% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $122,000 | -2.4% |
2 Bed | $152,000 | 2.0% |
3 Bed | $227,000 | 1.3% |
4 Bed | $324,000 | 2.5% |
| 5 Bed | $393,000 | 1.6% |
% of Housing Stock
Rental Trends — Murray, KY
As of July '25, Rentcast reports the average rent in Murray, KY is $937, with a year-over-year rent change of 4.9%. Per bedroom, the median rent as of July '25 in Murray, KY is 1-bedrooms: $689, 2-bedrooms: $1,020, 3-bedrooms: $908, 4-bedrooms: $1,550. The most common rental property sizes in Murray, KY are 2-bedroom and 1-bedroom, accounting for 36.0% and 32.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $850 | $937 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $678 | $689 |
| 2 Bed Rent | $998 | $1,020 |
| 3 Bed Rent | $850 | $908 |
| 4 Bed Rent | $1,550 | $1,550 |
% of Rental Stock
Property Listings — Murray, KY
As of Oct '25, Realtor.com reports that the median days on market for a home in Murray, KY is 63. This is a decrease of -2.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 29.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $375,000 | 12.0% |
Listing Count | 104 | -3.0% |
| Listings as % of Homes | 0.4% | -3.0% |
Days on Market | 63 | -2.0% |
Demographics — Murray, KY
As of the latest ACS Survey released in 2023, Murray, KY has a population of 30,800, which has decreased by -2.7% over the past 5 years. Murray, KY is a moderately popular place for families, as children make up 17.5% of the population. The area has a moderately educated workforce, with 34.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 30,800 | -2.7% |
% Under 18 | 17.5% | 3.6% |
% Seniors | 16.4% | 1.9% |
% WFH | 5.8% | 45.0% |
% w/ College Degree | 34.9% | 12.9% |
As of the latest ACS Survey released in 2023, Murray, KY is a predominantly white area, with 86.9% of the population identifying as white. The white population has shrunk by 1.8% in the last 5 years. The second most common race or ethnicity in Murray, KY is black, making up 4.5% of the population. Foreign-born residents account for 3.7% of the population in Murray, KY, and this percentage has decreased by 37.3% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 86.9% | -1.8% |
% Black | 4.5% | 9.8% |
% Hispanic | 3.4% | 25.9% |
% Asian | 1.9% | 5.6% |
% Foreign Born | 3.7% | -37.3% |
Mortgage and Risk — Murray, KY
According to HUD data as of 2023, there were 397 mortgage originations in Murray, KY, of which 69.0% of loans were conventional mortgages. The average loan-to-value was 71.0%, with 34.0% above 90% LTV (very high). This implies large mortgage risk in Murray, KY. Investor activity is low, as 5.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 397 |
% Conventional Loans | 69.0% |
% Government Loans | 31.0% |
% Investor Loans | 5.0% |
% Second Loans | 3.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Murray, KY
Murray, KY lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 317 |
Total Units Section 8 | 65 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 66.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $142 | $678 | $820 |
| 2 Bedroom | $82 | $998 | $1,080 |
| 3 Bedroom | $450 | $850 | $1,300 |
| 4 Bedroom | -$120 | $1,550 | $1,430 |
Affordability — Murray, KY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.7 |
| Median Home Price | $176,000 |
| Median Household Income | $49,000 |