C-
19%
Overall NAT. AVG.
6%
Goods & Services NAT. AVG.
56%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; 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.
Index Murray Utah National
Cost of living119104100
Goods & Services106102100
Groceries10099100
Health care9691100
Housing156114100
Transportation110105100
Utilities9495100

An Overview of Cost of Living in Murray, UT

Are you thinking about relocating, but curious about the potential cost of living in Murray? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Murray stands at 119, making it 19% higher than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

Housing costs significantly influence the Murray cost of living index, typically accounting for a substantial portion of one's post-tax income. Regrettably, within this particular region, expenses related to both residential ownership and renting exceeded those observed in an average city by 55.7%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.

Is Murray Affordable?

Is Murray affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Murray, for instance, where the median home price falls 69.9% higher than the national average, and monthly rent rates are 22.4% higher than usual. Additionally, median income levels contribute to the equation, with Murray flaunting a median household income of $65,397, 18.2% higher than the national norm.

What Factors can Influence the Cost of Living in Murray?

Healthcare: Healthcare expenses and insurance premiums can vary significantly depending on the specific city or state. Factors such as accessibility to healthcare facilities, out-of-pocket expenses for doctor's visits, dental care expenses, prescription costs and specialized medical care fees can all influence the overall cost of living. In Murray, healthcare costs are 3.8% lower than the national average.

Utilities: Similar to the prices of any other goods or services, utility expenditures can exhibit substantial variability, influenced by factors such as climate, energy sources accessibility, geographical location and state regulations. Costs related to electricity, water, heating, and waste disposal can fluctuate, whether higher or lower, contingent on the city or state. In Murray, the utilities index is 6.4% lower than the national average.

Groceries: Over the past 2-3 years, grocery expenses have experienced substantial upward trends. In certain markets, food prices have surged by over 20% during this period, while others have witnessed more modest increases. These fluctuations in food costs can wield significant influence over the overall cost of living in a given region. In Murray, the groceries index is 0.4% higher than the national average.

Where is the Data From?

The Murray cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Murray is 14% higher than the Utah average
  • The cost of living in Murray is 19% higher than the national average
  • Murray housing is 56% higher than the national average
  • Utah general sales tax is 20% higher than the national average
  • Utah state income tax is 115% higher than the national average

Most Affordable Places to Live in and Around Murray

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Compare Murray, UT Cost of Living

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      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$79,398$6,617$1,852$2,382
      Renters$48,841$4,070$1,140$1,465
      The affordability of the housing market in Murray, UT as well as the overall cost of living can be predicted by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Murray homeowners, the median income is $79,398. This indicates that a monthly maximum of $1,852 should be spent by homeowners on all housing related costs. Renters have a median income of $48,841. This indicates that renters would have a maximum of $1,140 for their rent related monthly costs.

      Utah Sales Tax

      State General Sales Tax With Max Surtax
      Utah 6.1% 8.35%

      Utah Income Tax

      State Income Tax (Low) Income Tax (High)
      Utah 4.85% 4.85%

      Goods & Services

      Item Murray National avg. Difference
      Haircut $20.87$24.2614.0%
      Beauty Salon $50.33$45.5610.5%
      Toothpaste $3.57$3.703.6%
      Shampoo $1.18$1.288.1%
      Movie $9.94$12.1318.1%
      Bowling $19.80$18.0010.0%

      Groceries

      Item Murray National avg. Difference
      Ground Beef $5.76$5.841.3%
      Fried Chicken $1.51$1.574.2%
      Milk $4.65$4.670.4%
      Potatoes $4.60$4.936.7%
      Pizza $11.69$12.093.3%
      Beer $10.59$10.411.7%

      Health Care

      Item Murray National avg. Difference
      Optometrist $125.19$125.680.4%
      Doctor $117.14$135.7813.7%
      Dentist $85.13$113.2924.9%
      Ibuprofen $10.89$10.652.3%
      Lipitor $528.57$468.6012.8%

      Housing

      Item Murray National avg. Difference
      Home Price $313,800.00$184,700.0069.9%
      Avg. Mortgage Payment $3,117.82$2,346.6932.9%
      Apartment Rent $1,162.00$949.0022.4%

      Transportation

      Item Murray National avg. Difference
      Gasoline $3.75$3.468.3%
      Tire Balancing $57.07$59.924.8%

      Utilities

      Item Murray National avg. Difference
      All Electricity $198.43$193.992.3%
      Phone $192.11$192.250.1%
      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 Population Cost of Living Index National Avg.
      Copperton, UT8391076.6%
      Magna, UT27,0291098.8%
      South Salt Lake, UT25,1251109.6%
      Kearns, UT36,45711110.7%
      West Valley City, UT135,61011110.9%
      Murray, UT48,96911918.9%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Lawrence, IN49,020954.8%
      St. Louis Park, MN48,87411212.4%
      Florin, CA48,83912019.9%
      Columbus, IN48,820981.6%
      Shawinigan, QC48,810n/a 
      Murray, UT48,96911918.9%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.