Rent vs buy in Murray, UT
In Murray, Utah, typical rent is $1,465 /mo and typical home value is $543,972.
Over 7 years, renting comes out ahead by $82k
Today's mortgage rate, with 20% down and Murray's typical rent and home value. The break-even point is year 21.
Clearly labeled opinion, with the math shown. Estimates, not quotes. When you change a number, the stamp changes too.
- How much renting is ahead by
- $82k after 7 years
- Break-even point
- year 21 when owning catches up
- Actual cost of owning
- $4,471 /mo year 1, against $1,465 rent
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In Murray, which costs less, renting or buying?
Once you count the money you get back when you sell, renting costs $81,591 less over 7 years. For the first 20 years, renting costs less. In year 21, owning catches up.
Rent. Buy. The net cost up to each year.
Murray's average rent compared with its mortgage payment
Using Murray's typical price, here are all the monthly costs in year 1. The rent and mortgage aren't the whole story.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,465 | All of it, every month |
| Mortgage payment | $2,966 | $2,614 of it is interest in year 1 |
| Property tax | $218 | 0.48% of the value a year |
| Insurance | $75 | Census median for the city |
| Upkeep | $453 | 1% of the value a year |
| Owning, cash out | $3,712 | $352 of it builds equity |
| Lost return on the down payment | $884 | What the cash would earn each year at 8.3% |
| Buying costs, spread out | $227 | 3.5% of the price over 7 years |
| True cost of owning | $4,471 | Cash out, with the equity share deducted and two previous lines added. |
Figures behind Murray's verdict
- Typical home valueZillow ZHVI, September 2026
- $543,972
- Typical rentZillow ZORI, September 2026
- $1,465 /mo
- Down payment20% avoids private mortgage insurance, which the engine does not model
- 20%
- Mortgage rateFreddie Mac Primary Mortgage Market Survey (FRED MORTGAGE30US)
- 7.24%
- Home price growthFHFA house price index, Utah, 1995 to 2025
- 5.1% a year
- Rent growthCPI rent of primary residence, yearly growth 2006 to 2026
- 3.5% a year
- Return on savings60% S&P 500 with dividends and 40% 10-year Treasuries, rebalanced yearly, 1928 to 2025
- 8.3% a year
- Property taxCensus ACS 2020-2024, Murray
- 0.48% of value
- Home insuranceCensus ACS 2020-2024, Murray
- $75 /mo
- MaintenanceFannie Mae, low end of 1% to 4%
- 1% of value a year
- Buying costsFreddie Mac, middle of 2% to 5%
- 3.5% of price
- Selling costsAgent commission plus closing costs
- 6% of price
In Murray, what change would flip the result?
Each line shows where Murray's 7-year verdict changes. Everything else stays as it is.
Renting has the edge when
- With home prices growing at under 6.8% a year, the rate we use is 5.1%, Utah's long-run rate.
- A mortgage rate above 4.56% remains in place.
- For a home like this, rent comes in under $2,340 monthly, with $1,465 as the typical amount here.
- Your move happens before year 21.
Buying comes out ahead when
- Home prices rise by more than 6.8% a year.
- You secure a mortgage rate under 4.56% (today's is 7.24%).
- Monthly rent for the same home would exceed $2,340.
- You remain there for 21 years or more.
Murray compared with the other 812 cities
| Measure | Murray | Median city |
|---|---|---|
| Typical home value | $543,972 | $422,451 |
| Typical rent | $1,465 /mo | $1,837 /mo |
| Price-to-rent ratio | 30.9 (#58 of 813) | 18.5 |
| Home prices, last 10 years | 7.4% a year | 6.2% a year |
| Rents, last 5 years | 1.8% a year | 4% a year |
| Property tax | 0.48% | 0.87% |
| Households that rent | 35% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
Cities in Utah besides Murray
- For Salt Lake City, UT, renting comes out ahead by $83k.
- For West Valley City, UT, renting comes out ahead by $39k.
- For West Jordan, UT, renting comes out ahead by $65k.
- For Provo, UT, renting comes out ahead by $47k.
- For St. George, UT, renting comes out ahead by $37k.
- For Orem, UT, renting comes out ahead by $57k.
- For Lehi, UT, renting comes out ahead by $22k.
- For Sandy, UT, renting comes out ahead by $104k.
- For Ogden, UT, renting comes out ahead by $41k.
- For South Jordan, UT, renting comes out ahead by $67k.
- For Layton, UT, renting comes out ahead by $58k.
- For Millcreek, UT, renting comes out ahead by $116k.