F
Overall 29%
Goods & Services 16%
Housing 81%
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Date & Last Updated: This data reflects 2022 and was released from C2ER in January, 2022; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
IndexMurphyTexasNational
Cost of living12992100
Goods & Services11697100
Groceries9591100
Health care8295100
Housing18183100
Transportation9494100
Utilities114103100

Key findings

  • The cost of living in Murphy is 40% higher than the Texas average
  • The cost of living in Murphy is 29% higher than the national average
  • Murphy housing is 81% 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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Compare Murphy, TX Cost of Living

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      Salary Calculator

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      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
      Owners$126,290$10,524$2,947$3,789
      Renters$72,477$6,040$1,691$2,175
      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 homeowners, is $126,290. This would allow for a maximum of $2,947 per month to be spent on housing costs. For renters, the median monthly income is $72,477 which would result in a maximum of $1,691 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%

      Goods & Services

      ItemMurphyNational avg.Difference
      Haircut $18.50$20.278.7%
      Beauty Salon $66.42$40.3964.4%
      Toothpaste $1.84$2.3622.0%
      Shampoo $1.41$1.0831.0%
      Movie $12.46$10.9913.4%
      Bowling $20.00$15.4929.1%

      Groceries

      ItemMurphyNational avg.Difference
      Ground Beef $3.97$4.307.6%
      Fried Chicken $1.22$1.4013.1%
      Milk $1.88$2.2014.7%
      Potatoes $2.92$3.229.2%
      Pizza $11.72$10.749.2%
      Beer $10.15$9.605.8%

      Health Care

      ItemMurphyNational avg.Difference
      Optometrist $123.89$109.7312.9%
      Doctor $69.33$118.3441.4%
      Dentist $90.70$100.9410.1%
      Ibuprofen $9.43$9.935.1%
      Lipitor $336.15$469.5328.4%

      Housing

      ItemMurphyNational avg.Difference
      Home Price $304,100.00$184,700.0064.6%
      Avg. Mortgage Payment $1,607.02$1,229.6230.7%
      Apartment Rent $2,067.00$949.00117.8%

      Transportation

      ItemMurphyNational avg.Difference
      Gasoline $2.48$2.718.6%
      Tire Balancing $50.31$51.863.0%

      Utilities

      ItemMurphyNational avg.Difference
      All Electricity$211.35$170.8423.7%
      Phone $188.86$187.180.9%
      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

      CityPopulationCost of Living IndexNational Avg.
      Mobile City, TX2248316.8%
      St. Paul CDP, TX5948613.6%
      Farmersville, TX3,416972.7%
      Garland, TX234,810982.2%
      Princeton, TX8,278990.9%
      Murphy, TX20,01512929.0%

      Cities with similar population

      CityPopulationCost of Living IndexNational Avg.
      Clifton, CO20,021927.9%
      Shenandoah, LA19,9991055.2%
      Amherst Center, MA20,03712626.1%
      Middletown, DE20,04511818.3%
      Louisville, CO19,97213131.1%
      Murphy, TX20,01512929.0%
      Source: This data reflects 2021 and was released from C2ER in January, 2022; this is the most current data available.