Murray, UT—84107
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Murray, UT
As of Oct '25, the median home price in Murray, UT is $494,000, with a year-over-year change of 1.6%. This indicates that home prices in Murray, UT are increasing. According to Zillow, the 1-year price projection is 0.5%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $494,000 | 1.6% |
| Single Family | $532,000 | 1.7% |
| Condos | $335,000 | -0.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $249,000 | -2.7% |
2 Bed | $344,000 | 0.3% |
3 Bed | $494,000 | 1.6% |
4 Bed | $581,000 | 1.9% |
| 5 Bed | $684,000 | 1.8% |
% of Housing Stock
Rental Trends — Murray, UT
As of July '25, Rentcast reports the average rent in Murray, UT is $1,620, with a year-over-year rent change of -10.5%. Per bedroom, the median rent as of July '25 in Murray, UT is studios: $1,030, 1-bedrooms: $1,130, 2-bedrooms: $1,520, 3-bedrooms: $2,240, 4-bedrooms: $2,400. The most common rental property sizes in Murray, UT are 2-bedroom and 1-bedroom, accounting for 54.5% and 19.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,400 | $1,620 |
| Studio Rent | $1,020 | $1,030 |
| 1 Bed Rent | $1,170 | $1,130 |
| 2 Bed Rent | $1,400 | $1,520 |
| 3 Bed Rent | $2,150 | $2,240 |
| 4 Bed Rent | $2,300 | $2,400 |
% of Rental Stock
Property Listings — Murray, UT
As of Oct '25, Realtor.com reports that the median days on market for a home in Murray, UT is 59. This is a decrease of -9.0% 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 34.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $507,000 | 2.0% |
Listing Count | 147 | 7.0% |
| Listings as % of Homes | 0.4% | 7.0% |
Days on Market | 59 | -9.0% |
Demographics — Murray, UT
As of the latest ACS Survey released in 2023, Murray, UT has a population of 37,500, which has increased by 10.5% over the past 5 years. Murray, UT is a moderately popular place for families, as children make up 18.8% of the population. The area has a moderately educated workforce, with 38.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 18.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 37,500 | 10.5% |
% Under 18 | 18.8% | -9.6% |
% Seniors | 14.1% | 6.8% |
% WFH | 18.3% | 181.5% |
% w/ College Degree | 38.0% | 21.8% |
As of the latest ACS Survey released in 2023, Murray, UT is a predominantly white area, with 65.4% of the population identifying as white. The white population has shrunk by 14.1% in the last 5 years. The second most common race or ethnicity in Murray, UT is hispanic, making up 17.7% of the population. Foreign-born residents account for 16.2% of the population in Murray, UT, and this percentage has increased by 30.6% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 65.4% | -14.1% |
% Black | 4.2% | 68.0% |
% Hispanic | 17.7% | 22.1% |
% Asian | 5.7% | 111.1% |
% Foreign Born | 16.2% | 30.6% |
Mortgage and Risk — Murray, UT
According to HUD data as of 2023, there were 537 mortgage originations in Murray, UT, of which 88.0% of loans were conventional mortgages. The average loan-to-value was 53.0%, with 26.0% above 90% LTV (very high). This implies large mortgage risk in Murray, UT. Investor activity is low, as 1.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 537 |
% Conventional Loans | 88.0% |
% Government Loans | 12.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Murray, UT
As of 2024, the percent of homes in Murray, UT under the Section 8 program is 7.6%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Murray, UT, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 663 |
Total Units Section 8 | 663 |
% Rentals under Section 8 | 7.6% |
% Occupied Section 8 | 92.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $200 | $1,170 | $1,370 |
| 2 Bedroom | $250 | $1,400 | $1,650 |
| 3 Bedroom | $70 | $2,150 | $2,220 |
| 4 Bedroom | $220 | $2,300 | $2,520 |
Affordability — Murray, UT
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.5 |
| Median Home Price | $494,000 |
| Median Household Income | $73,500 |