Murray, KY Housing Market
AI-powered market intelligence for the Murray, KY metro area.
PropertyIQ Scores
Murray, KY Market Analysis
Market Overview
Murray, KY currently presents as a weak residential market, with a PropertyIQ Score of 2 out of 100. The score is shaped by the top drivers: 12-month home value momentum of -14.31%, 3-month home value momentum of -0.67%, median days on market of 58, and a 24.4% share of listings with a price cut. A score this low reflects soft pricing conditions and a market where sellers are adjusting expectations. The median home value is $181,327, which is below the state average of $232,577, while the local median household income is $51,854, below the state average of $62,417.
Compared with state benchmarks, Murray’s home prices are roughly $51,250 lower than the state median, but incomes are also lower, which offsets some affordability benefit. Unemployment is 4.7%, matching the state average. Notably, the local rent index is $1,088, above the state average of $933. This means that despite weakness in home values, local rents are relatively high compared with the rest of the state. With 99 homes for sale, inventory is not massive, but the price-cut share and days on market suggest buyers have time and leverage.
Key Trends
The clearest trend is price softness. The 12-month home value momentum is -14.31%, and the 3-month momentum is -0.67%. The annual decline is much larger than the quarterly decline, which suggests the sharpest price drops may have occurred earlier in the year, but values are still edging downward rather than recovering. The dataset also lists a year-over-year home value change of -$7. The median home value is $181,327.
A second trend is a buyer-friendly sales environment. Median days on market is 58, and 24.4% of listings have a price cut. This means nearly one in four sellers has reduced the asking price, and homes are taking about two months to sell. With 99 homes for sale, the market is not flooded, but the negotiation conditions lean toward buyers.
A third trend is the tension between home prices and incomes. The median home value of $181,327 is well below the state median of $232,577, which improves purchase affordability relative to the state. However, the median household income of $51,854 is also below the state average of $62,417. Lower prices may make entry easier, but local earning power remains limited.
A fourth trend is the divergence in rental economics. The rent index of $1,088 is higher than the state average of $933, even though home values are falling. That suggests rental demand is holding up better than ownership demand, or that the for-sale market is repricing while rents have not adjusted downward at the same pace.
Who Is This Market For
This market may suit value-focused first-time buyers who can handle a weak price environment in exchange for a lower purchase price. The median home value of $181,327 is significantly below the state average of $232,577, and with 24.4% of listings showing price cuts, buyers may have room to negotiate. However, the median household income of $51,854 is below the state average of $62,417, so affordability depends on individual financial circumstances.
Rental property investors may also find this market interesting because the rent index of $1,088 is above the state average of $933, while home prices are relatively low. This combination can support rental cash flow, but the negative 12-month home value momentum of -14.31% means appreciation is not currently a tailwind. Move-up buyers may face a more challenging environment because selling an existing home could take 58 days on market and may require a price cut.
Outlook
The data points to continued softness in the near term. The 12-month home value momentum is -14.31% and the 3-month momentum is -0.67%, so prices are still declining, although the quarterly pace is much smaller than the annual pace. With 58 days on market and 24.4% of listings with a price cut, sellers are likely to keep facing negotiation pressure. The rent index of $1,088 being above the state average may provide some stability in rental demand. Unemployment at 4.7% matches the state average, which does not signal a local labor market advantage. Population growth data is not available, so population-driven demand cannot be evaluated. Overall, until home value momentum turns positive and the price-cut share declines, the market is likely to remain weak.
AI-generated analysis based on current market data. Last updated September 25, 2026.
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Murray, KY market data
Murray, KY Housing Market Overview
Murray, KY's median home value is $181K, down 14.3% over the past year. Homes here sell in a median 58 days. Its PropertyIQ Score of 2 sits below the state average of 50, marking a market positioned to lag its state over the next three years.
The Murray, KY metropolitan area represents a distinct segment of KY's housing landscape. The PropertyIQ Score combines price momentum — how Zillow home values have trended over the past 3 and 12 months — with market-flow signals from Realtor.com that track how fast homes sell and how often sellers cut prices. The result is a single measure of how this market is positioned to outperform or lag its state over the next three years.
Southeastern markets benefit from manufacturing investment, logistics infrastructure, and relative affordability compared to national averages. The region's population growth — driven by both domestic migration and natural increase — supports sustained housing demand across metro and suburban areas. Within the Southeast, Murray, KY's PropertyIQ Score of 2 runs below the Southeast norm.
Each month, PropertyIQ updates its score for Murray, KY using four inputs: Zillow ZHVI twelve-month and three-month momentum, Realtor.com median days on market, and the Realtor.com share of listings with price cuts. These four signals are combined into a single 1 to 99 score computed across all metro markets and calibrated so 50 represents the state average, making it a direct read of how this market is positioned to perform relative to its state. Momentum here has been negative, with home values down 14.3% over the past year.
Explore the interactive map to see how Murray, KY compares to neighboring metros, or view the full market dashboard for detailed analytics including time-series trends, score breakdowns, and AI-generated market reports.
Counties in the Murray, KY metro area
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Market data through August 2026. Sourced from Zillow, Realtor.com, Redfin, U.S. Census Bureau, FRED, BLS, and BEA. Per-statistic source and date shown above.
Frequently Asked Questions
Is Murray, KY a good place to buy real estate in 2026?
PropertyIQ doesn't label markets simply good or bad. Instead, the PropertyIQ Score measures a market's demand momentum against its own state, where 50 marks the state average. Murray, KY currently scores 2, a very weak-momentum reading that leaves it positioned to lag its state over the next three years. For buyers, cooling demand usually brings more inventory, longer sale times, and real leverage to negotiate on price. Backing that up, the median home value here is $181K, down 14.3% over the past year. So whether Murray, KY is right for you comes down to your goals: a rising-momentum market can favor long-term appreciation but offers less room to negotiate, while a cooling one hands buyers more leverage. Treat the score as a timing signal to weigh alongside your budget, holding period, and plans for the property, not a verdict on the market's quality.
What is the PropertyIQ Score for Murray, KY?
Murray, KY's PropertyIQ Score is 2, indicating very weak momentum on a 1-to-99 scale. The score distills four transparent inputs into a single number: Zillow home-value momentum over the past 12 months, Zillow home-value momentum over the past 3 months, the median days homes spend on the market from Realtor.com, and the share of listings with a price cut, also from Realtor.com. Rising values and faster sales push the score up, while slow sales and frequent price cuts pull it down. The scale is calibrated so 50 equals the state average, meaning a score above 50 predicts the market will outperform its state over the next three years and a score below 50 predicts underperformance. PropertyIQ computes the score across every US market nationally, then recenters it against each state, so 2 places Murray, KY below its state benchmark.
Are home prices in Murray, KY rising or falling?
Home prices in Murray, KY are falling. Over the past year, the median home value declined 14.3%, reaching $181K. Over the latest three months, values slipped 0.7%, a sign near-term demand is softening. PropertyIQ derives these figures from Zillow's home-value index, which tracks the typical value across the market rather than only the homes that happened to sell, giving a steadier read than a raw median sale price. Both the 12-month and 3-month momentum readings feed directly into the PropertyIQ Score, so this price trend is one of the core signals behind Murray, KY's current score. Keep in mind that appreciation can vary widely by neighborhood and price tier across the metro area, so treat these figures as the market-wide baseline rather than a guarantee for any single property.
How quickly do homes sell in Murray, KY?
In Murray, KY, homes sell in a median of 58 days from listing to pending sale, based on Realtor.com market data. Median days on market is one of the clearest real-time reads on local demand: when homes move quickly, buyers are competing and sellers hold the advantage, while lengthening timelines signal cooling interest and more room to negotiate. Alongside sale speed, about 24% of active listings here have taken at least one price cut — a complementary demand gauge, since a rising share of reductions often precedes slower sales and softer prices. Both median days on market and the price-cut share feed directly into the PropertyIQ Score, where faster sales and fewer cuts push the score higher. As a general guide, medians under about 30 days indicate a brisk, competitive market, while medians well beyond 60 days point to buyers regaining leverage. Actual time on market still varies by price band, property type, and season, so treat the median as a market-wide baseline.
How current is this metro area data?
This Murray, KY market data is refreshed on a monthly cycle, with the latest figures current through August 2026. PropertyIQ ingests fresh data every month from a range of authoritative sources: home values and rents from Zillow, days on market and price-cut activity from Realtor.com, additional housing signals from Redfin, demographic and housing-stock data from the U.S. Census Bureau, mortgage and macroeconomic series from FRED, and employment figures from the Bureau of Labor Statistics and the Bureau of Economic Analysis. The PropertyIQ Score itself is recomputed every month once the new source data lands, so the score and its four underlying inputs always reflect the most recent complete reporting period rather than a static snapshot. Because official housing data is typically released with a short lag, the current-through date usually trails the present by a few weeks, which is normal across the industry and not a sign the data is out of date.