| Index | Murphy | Texas | National |
| Cost of living | 133 | 94 | 100 |
| Groceries | 96 | 98 | 100 |
| Health care | 98 | 98 | 100 |
| Housing | 213 | 83 | 100 |
| Transportation | 99 | 98 | 100 |
| Utilities | 101 | 103 | 100 |
| Lifestyle & Entertainment | 104 | 98 | 100 |
| Household Items | 97 | 98 | 100 |
| Education & Childcare | 100 | 98 | 100 |
The cost of living in Murphy affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Murphy is 133, which is 33% higher than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.
The cost of living in Murphy is among the highest in the country, making it a very expensive place to live. Only a small fraction of regions boast a cost of living that is at least 20% higher than the national average, and regrettably, Murphy falls into this category, which may not be suitable for those seeking an economically favorable living environment.
When it comes to the cost of living in Murphy, housing costs are a real heavyweight, often hogging a significant chunk of your earnings. Sadly, in this area, housing expenses for both buying and renting were 112.5% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.
Is Murphy an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Murphy, the median home price is 107.3% higher than what most folks pay across the country, and monthly rent prices are 124.7% higher than the usual rates. Income levels in Murphy come in at $206,182, which is 153.5% higher than the national average.
Utilities: Similar to the prices of any goods or services, utility expenses can fluctuate widely, contingent on variables such as climate, available energy sources, geographical location and state regulations. Costs associated with electricity, water, heating, and waste disposal can differ in magnitude, depending on the specific city or state. In Murphy, the utilities index registers at 1.1% higher than the national average.
Transportation: In situations where public transportation is limited or nonexistent, local residents may be required to own and maintain their own vehicles, contributing to an elevated cost of living. Monthly expenditures may encompass fuel costs, insurance premiums, routine vehicle upkeep and possibly lease or financing payments. In Murphy, the transportation index is 1% lower than the national average.
Subsidies: Certain regions may provide government subsidies or assistance initiatives designed to alleviate the cost of living burden on their residents. These programs encompass a wide range of support mechanisms, such as Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farming subsidies. Areas with fewer subsidy offerings might experience an elevation in their cost of living.
The cost of living estimates displayed for Murphy are modeled using a U.S. average baseline of 100, helping provide a useful comparison of local living expenses. Housing calculations include U.S. Census home price and rental data, while all other values are AI-assisted estimates based on regional cost patterns, climate, transportation, and everyday spending expectations. These values are intended for directional comparisons across cities.
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| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $212,060 | $17,672 | $4,948 | $6,362 |
| Renters | $125,263 | $10,439 | $2,923 | $3,758 |
| State | General Sales Tax | With Max Surtax |
| Texas | 6.25% | 8.25% |
| State | Income Tax (Low) | Income Tax (High) |
| Texas | 0% | 0% |
| City | Population | Cost of Living Index | National Avg. |
| St. Paul CDP, TX | 608 | 80 | 19.8% |
| St. Paul, TX | 1,407 | 80 | 19.7% |
| Mobile City, TX | 213 | 98 | 2.1% |
| Garland, TX | 245,211 | 102 | 1.8% |
| Farmersville, TX | 3,684 | 103 | 2.6% |
| Murphy, TX | 21,307 | 133 | 33.0% |
| City | Population | Cost of Living Index | National Avg. |
| Park Forest, IL | 21,311 | 91 | 9.3% |
| Fernley, NV | 21,270 | 113 | 12.8% |
| Lynn Haven, FL | 21,344 | 110 | 9.9% |
| Beaumont, AB | 21,267 | n/a | |
| Mead Valley, CA | 21,263 | 127 | 26.8% |
| Murphy, TX | 21,307 | 133 | 33.0% |
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