Murphy, NC housing market
The typical Murphy home is worth about $278,000, about the same as a year ago, 17% below the North Carolina typical home.
Home values, sales, trends and how Murphy compares with the towns next door — updated as new data is published.
Murphy at a glance
Typical home value, 2016–2026
Show as a table
| January | Murphy | North Carolina |
|---|---|---|
| 2017 | $136,000 | $179,000 |
| 2018 | $144,000 | $190,000 |
| 2019 | $153,000 | $203,000 |
| 2020 | $163,000 | $215,000 |
| 2021 | $190,000 | $242,000 |
| 2022 | $232,000 | $287,000 |
| 2023 | $260,000 | $320,000 |
| 2024 | $275,000 | $332,000 |
| 2025 | $283,000 | $338,000 |
| 2026 | $279,000 | $336,000 |
| August 2026 | $278,000 | $335,000 |
7.5 years of income
The typical Murphy home costs about 7.5 years of the town's median household income, more than across North Carolina (4.6 years).
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $930
HUD's Fair Market Rent for a two-bedroom in Murphy is $930 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Murphy pay a median of $422, so moving in tends to cost more than staying put. A two-bedroom takes about 30% of the town's median household income.
Studio $780 · 4 bedrooms $1,480
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (28906; Cherokee County, NC), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, August 2026. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.