Murphy, TX
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Murphy Neighborhoods Since 2000




Murphy, TX Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Murphy Housing Market Information

With 20,610 people, 5,315 houses or apartments, and a median cost of homes of $480,999, Murphy house prices are not only among the most expensive in Texas, Murphy real estate also is some of the most expensive in all of America.

Murphy is a city of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Murphy than is found in 98% of the communities in America.

The large homes that make up Murphy are primarily owner-occupied ( 89.56%).

Murphy homes and real estate are some of the newest in America. 75.03% of Murphy's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Murphy real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 23.66%), and between 1940-1969 ( 1.03%).

Murphy Home Appreciation Rates

In the last 10 years, Murphy has experienced some of the highest home appreciation rates of any community in the nation. Murphy real estate appreciated 41.93% over the last ten years, which is an average annual home appreciation rate of 3.56%, putting Murphy in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Murphy definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Murphy that despite a nationwide downturn in the housing market, Murphy real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Murphy appreciation rates continue to be some of the highest in America, at 8.06%, which is higher than appreciation rates in 87.02% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Murphy. Murphy appreciation rates in the latest quarter were at 2.35%, which equates to an annual appreciation rate of 9.75%.

Importantly, this makes Murphy one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Texas, our data show that Murphy's latest annual appreciation rate is higher than 70% of the other cities and towns in Texas.

Average Home Values

 

Median Home Value:
$480,999

Murphy, TX HOME PRICES

Value Range
> $1,319,000 1.2
$989,001 - $1,319,000 2.1
$660,001 - $989,000 7.4
$528,001 - $660,000 12.2
$396,001 - $528,000 17.8
$264,001 - $396,000 29.9
$132,001 - $264,000 23.3
$66,001 - $132,000 1.4
$0 - $66,000 4.6

Very High for TX
Very High for Nation

Value Relative to Nation Value Relative to State
6.44849408180007 2.67509727626459

Number Of Homes And Apartments:
5,315

Murphy Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TX*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
63.56% 2.89% 4 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,645 / per month

Homeownership Rate

Homeownership
Owners 89.56
Renters 10.44
Vacant 0.21

Housing Market Details

 

Age of Homes

AGE OF Murphy HOMES
2000 or Newer 75.0
1970 - 1999 23.7
1940 - 1969 1.0
1939 or Older 0.3

Types of Homes

TYPE OF Murphy HOMES
Single-Family 99.3
Townhomes 0.1
Small Apt. Buildings 0.0
Apt. Complexes 0.0
Mobile Homes 0.6
Other 0.0

Home Size

SIZE OF Murphy HOMES
No Bedroom 0.28
1 Bedroom 0.00
2 Bedrooms 1.90
3 Bedrooms 24.56
4 Bedrooms 46.77
5 or more bedrooms 26.49

Popular Neighborhoods in Murphy

Zip Codes in Murphy, TX