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City Report · NC

Murphy

Pop. 1,604·64th most expensive in North Carolina·Rental market data updated monthly for Murphy, NC
Median rent (all units)
$1,650/mo
Year-over-Year
Stable
Month-over-Month
+3.1%
vs US Median
-$312
Rising (Monthly)
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Most AffordableMost Expensive
Murphy · $1,650
More affordable than 64% of US cities · National median $1,962/mo
Affordability
53% of income
EXPENSIVE
0%30% benchmark60%+

At $1,650/mo, rent takes about 53% of the local median household income, well above the 30% benchmark.

Income to afford
$66,000/yr
Local median income
$37,263/yr
Based on the 30%-of-income rule using Murphy's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$710
1 BR
$750
2 BR
$930
3 BR
$1,300
4 BR+
$1,460
Fair Market Rent (HUD)
$930/mo

These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,650 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.

Source: HUD Small Area Fair Market Rents. Read the methodology →

Rent trends

12-month history

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Last updated: March 21, 2026

Annual cost
$19,800/yr
At $1,650/mo median
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 0.0% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+0.0% YoY, +3.1% MoM), not inventory.
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Demographics

Who lives here

Murphy, NC is roughly split between renters and owners, has a large retiree population, has a median income below the national average, 26.8% of residents hold a bachelor's degree or higher.

Population
1,604
Median income
$37,263
Median age
34.5
Renters
54%
Age distribution
20.7%
29.7%
20.7%
21.3%
Under 1820.7%
18–3429.7%
35–5420.7%
55–647.5%
65+21.3%
Gender
56.5%
43.5%
Male56.5%
Female43.5%
Race & ethnicity
79.4%
12.2%
White79.4%
Black12.2%
Hispanic4.1%
Asian0.5%
Other3.9%
Education (25+)
35.9%
26.3%
26.8%
No HS diploma11.1%
HS diploma35.9%
Some college26.3%
Bachelor's+26.8%
Housing tenure
46%
54%
Owner46%
Renter54%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Murphy, NC has changed in 5 years

Income
$32,486 → $37,263
up 14.7%
Population
1,659 → 1,604
down 3.3%
Renter share
53.5% → 54%
+0.5 pts
Bachelor's+
31.6% → 26.8%
-4.8 pts
Median age
40.9 → 34.5
-6.4 yrs

Census figures show median household income at $37,263 today, compared with $32,486 five years earlier. The population has contracted by 3.3% since 2021, moving from about 1,659 residents to roughly 1,604. College-educated residents now make up 26.8% of adults here, versus 31.6% in 2021.

Community

Discussions about Murphy

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View Murphy rent history (2015–2026) →
Salary vs rent

Can you afford rent in Murphy on your salary?

At $1,650/mo, how Murphy rent compares to typical pay (30% rule).

By apartment size

Murphy rent by bedroom count

Median rent for each apartment size in Murphy. Click any size for full breakdown.

Local insights

Tips for renters in Murphy

About renting in Murphy, NC

Last updated: March 21, 2026

The median rent in Murphy is $1,650/mo as of March 2026. A studio apartment averages $710/mo while a 2-bedroom runs $930/mo. One-bedroom apartments average $750/mo and 3-bedroom units go for $1,300/mo.

At 53% of local median household income ($37,263/yr), Murphy ranks as expensive compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

Is Murphy an affordable city for renters?

Murphy is considered expensive for renters. At $1,650/mo, rent takes approximately 53% of the local median household income ($37,263/yr). The standard benchmark is 30%. Murphy significantly exceeds that threshold, making it challenging for many renters.

How much income do you need to rent in Murphy?

To keep rent at or below 30% of gross income, you would need to earn at least $66,000/year (~$32/hour full-time) to afford the median rent of $1,650/mo in Murphy. The local median household income is $37,263/yr, meaning the typical Murphy household falls short of that threshold.

Is rent going up or down in Murphy?

Rent in Murphy has been relatively stable over the past year, with a 0.0% change year over year as of March 2026.

How does Murphy rent compare to other cities in North Carolina?

Murphy is middle-of-the-pack for North Carolina for rent, ranking #64 out of 117 tracked cities at $1,650/mo.

Which nearby cities are cheaper to rent in than Murphy?

Athens is nearby and more affordable at $1,083/mo, which is $567 less than Murphy.

What percentage of Murphy residents rent vs. own?

According to Census data, approximately 54% of Murphy households are renters, while 46% are owner-occupied. With a majority renter population, Murphy has a strong rental market.

How does Murphy rent compare to the national average?

Murphy's median rent of $1,650/mo is $312 (16%) below the US national median of $1,962/mo. Within North Carolina, it ranks #64 out of 117 tracked cities.
Income Affordability
53%
EXPENSIVE

At $1,650/mo, rent takes ~53% of Murphy's median household income ($37,263/yr). The standard benchmark is 30%.

Murphy 53%Benchmark 30%
State income tax4.5%
Run the Murphy affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Murphy, NC

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