Murphy cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexMurphyTexasNational
Cost of living index12691100
IndexMurphyTexasNational
Goods & Services index10297100
Groceries index10190100
Health care index10296100
Housing index16781100
Transportation index14795100
Utilities index10294100
A general summary of the cost of living index in Murphy, TX is shown above. Compared to the state average of Texas the cost of living index in Murphy, TX is 126, which is 39% higher than the average in Texas and compared to the national average it is 26% higher than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In Murphy, TX goods and services come in at 5% higher than the average in Texas and are 2% higher than compared to the nationwide average.

Did you know?

  • The cost of living in Murphy is 39% higher than the Texas average.
  • The cost of living in Murphy is 26% higher than the national average.
  • The cost of housing in Murphy is 67% higher than the national average.
  • Texas general sales tax is 23% higher than the national average.
  • Texas state income tax is 100% lower than the national average.

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Salary Calculator

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Health care index
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Use the salary calculator to compare your current income in Murphy, TX to any other city in the country. The calculator will tell you how much income you would need to make in a particular city to live at the same level based on the cost of living in each city. For example, if the cost of living in the city you are looking to move to is higher than that of Murphy, TX, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Murphy, TX salary calculator, enter the name of the new city, then move the slider to your current salary level. The salary calculator will do the rest and let you know if your salary would need to increase or decrease for the new city. You will also see a complete overview of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$124,698$10,392$2,909$3,741
Renters$75,507$6,292$1,762$2,265
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Murphy, TX as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Murphy, TX homeowners, is $124,698. This would allow for a maximum of $2,909 per month to be spent on housing costs. For renters, the median monthly income is $75,507 which would result in a maximum of $1,762 to be spent on rental costs.

Texas Sales Tax

StateGeneral Sales TaxWith Max Surtax
Texas6.25%8.25%

Texas Income Tax

StateIncome Tax (Low)Income Tax (High)
Texas0%0%
When considering the overall cost of living expenses in Murphy, TX, it's important to take into account the sales tax for Texas, as well as the rate for income tax in Texas. Goods and services sold to consumers in any state have some form of sales tax. Each state has its own tax code, which means that sales tax rates vary from state to state, ranging from over 7% in some states to as low as 0% in others. The maximum surtax for Texas is 8.25%, and the sales tax in the state of Texas is 6.25%. Alternatively, the tax imposed on your income by the state government is known as income tax. The rate for this tax also varies from state to state, and your rate is affected by your tax bracket, which is determined by your level of income. Income tax rates might be as high as 9%, down to as low as 0%. The range for income tax rates in Texas starts from 0% and goes up to 0%.

Goods & Services

ItemMurphyNational avg.Difference
Haircut $16.49$14.5913.0%
Beauty Salon $35.45$34.682.2%
Toothpaste $2.34$2.475.4%
Shampoo $0.91$1.0211.0%
Movie $10.50$9.876.4%
Bowling $5.23$4.3919.1%

Groceries

ItemMurphyNational avg.Difference
Ground Beef $5.54$4.4823.8%
Fried Chicken $2.14$1.4646.2%
Milk $2.21$2.366.2%
Potatoes $2.84$3.067.2%
Pizza $9.99$9.248.1%
Beer $8.87$8.632.7%

Health Care

ItemMurphyNational avg.Difference
Optometrist $101.68$99.781.9%
Doctor $111.77$105.036.4%
Dentist $95.00$88.707.1%
Ibuprofen $8.98$9.414.6%
Lipitor $268.86$298.509.9%

Housing

ItemMurphyNational avg.Difference
Home Price $273,900.00$175,700.0055.9%
Avg. Mortgage Payment $886.79$1,081.0318.0%
Apartment Rent $1,783.00$920.0093.8%

Transportation

ItemMurphyNational avg.Difference
Gasoline $3.36$2.0960.5%
Tire Balancing $50.12$45.2910.7%

Utilities

ItemMurphyNational avg.Difference
All Electricity$187.58$170.809.8%
Phone $25.95$28.268.2%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
Farmersville, TX3,39397-3%
Princeton, TX7,52099-1%
Garland, TX232,30599-1%
Mobile City, TX246100-0%
New Hope, TX7591055%
Murphy, TX19,15412626%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Bellwood, IL19,14999-1%
Lathrop, CA19,16311717%
Newton, KS19,14487-13%
Universal City, TX19,16492-8%
Norwood, OH19,17087-13%
Murphy, TX19,15412626%
Source: The Murphy, TX cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.