Murfreesboro, TN
Rutherford County · Pop. 165,752
Ranked #99 of 243 cities
44Moderate
Median Home Price
🏠$340K
3.5% YoY
Median Rent
🔑$1,500
2.5% YoY
Median Income
💰$62K
Rent Burden
📊30.0%
% of income to rent
Income to Buy
🏦$98K
annual income needed
Income to Rent
📝$60K
annual income needed
Price-to-Income
⚖️5.5x
Homeownership
🏡52.0%
Rent vs. Buy
Buy
$1,810/mo
Est. mortgage (7%, 20% down)
Need $98K/yr income
Rent
$1,500/mo
Median rent
Need $60K/yr income
How Murfreesboro Compares
| Metric | Murfreesboro | Tennessee | National |
|---|---|---|---|
| Home Price | $340K | $307K | $410K |
| Rent | $1,500 | $1,214 | $1,500 |
| Income | $62K | $68K | $75K |
| Rent Burden | 30.0% | 30.5% | 30.0% |
Key Takeaways
- • Home prices in Murfreesboro are 17% lower than the national average.
- • Rent is about average than the national average.
- • You need an income of $98K to comfortably buy a home here.
- • The homeownership rate is 52.0%, compared to 65.0% nationally.