The typical owner-occupied home in Murphy is worth about $317,900, 24% below the Idaho median of $418,600 and 4% below the national median of $332,700. The median household earns $76,116 a year, so the median home costs 4.2 times the median income (5.4 times for Idaho). 75% of occupied homes here are lived in by their owners, and 61% of those owners still have a mortgage.
Murphy at a glance
| Murphy | Idaho | U.S. | |
|---|---|---|---|
| Median home value | $317,900 | $418,600 | $332,700 |
| Median property tax paid per year | – | $2,038 | $3,119 |
| Median household income | $76,116 | $77,800 | $80,734 |
| Homes lived in by their owners | 75% | 72% | 65% |
| Owner homes with a mortgage | 61% | 62% | 61% |
| Median monthly costs, owners with a mortgage | – | $1,687 | $1,963 |
| Median rent | – | $1,238 | $1,413 |
| Median year homes were built | 1992 | 1991 | 1980 |
| Vacant homes | 0.0% | 10.3% | 10.1% |
| Population | 170 | 1,934,262 | 334,922,499 |
What a typical home costs per month in Murphy
At this week's average 30-year rate of 7.11%, buying the median Murphy home of $317,900 with 20% down costs about $2,135 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,664, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $91,487 for the 20%-down payment. That payment is 34% of the median Murphy household income of $76,116; at that income and 20% down, the 28% guideline points to a home of about $264,000.
| Down payment | $63,580 |
|---|---|
| Loan amount | $254,320 |
| Principal and interest | $1,711 |
| Property taxes (1.10% a year) | $291 |
| Homeowners insurance (our estimate, 0.5% a year) | $132 |
| PMI | $0 |
| Total per month | $2,135 |
Change the numbers in the calculator
| Down payment | $11,126 |
|---|---|
| Loan amount | $312,142 |
| Principal and interest | $2,100 |
| Property taxes (1.10% a year) | $291 |
| Homeowners insurance (our estimate, 0.5% a year) | $132 |
| FHA mortgage insurance | $141 |
| Total per month | $2,664 |
Change the numbers in the calculator
Questions about home buying in Murphy
What is the median home value in Murphy?
About $317,900 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
What income do you need to buy a home in Murphy?
For the median home with 20% down at 7.11%, the payment is about $2,135 a month. Keeping that under 28% of gross income takes about $91,487 a year.
More about Murphy
- Mortgage Refinance in Murphy
- Debt Relief in Murphy
- Home Equity Loans in Murphy
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data