At $1,583/mo, rent takes about 51% of the local median household income, well above the 30% benchmark.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,583 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 →
12-month history
Last updated: September 25, 2026
What the numbers show
30% of the median household income ($37,263) is $932 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($930); a 3-bedroom is $1,300.
From Zillow's monthly rent index (ZORI) for Murphy. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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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.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Murphy, NC has changed in 5 years
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.
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Can you afford rent in Murphy on your salary?
At $1,583/mo, how Murphy rent compares to typical pay (30% rule).
Murphy rent by bedroom count
Median rent for each apartment size in Murphy. Click any size for full breakdown.
Tips for renters in Murphy
Last updated: September 25, 2026
The median rent in Murphy is $1,583/mo as of September 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 51% 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.
Frequently asked questions
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Is rent going up or down in Murphy?
How does Murphy rent compare to other cities in North Carolina?
At $1,583/mo, rent takes ~51% of Murphy's median household income ($37,263/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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