Murray, IA
Population 648 · Iowa
About Murray, IA
Murray is a small community located in Iowa with a population of 648 residents according to the latest US Census Bureau American Community Survey data. The median household income is $60,313 per year, which is 20% below the national median of $75,149. The median age of 30.1 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Murray features a median home value of $76,300, which is 69% below the national median of $244,900. This makes Murray one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $782, 33% below the national average of $1,163/month. Of the 249 total housing units, 83% are owner-occupied (207 units) and 17% are renter-occupied (42 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Murray shows an unemployment rate of 4.0%, which is near the national rate of 3.7%. The poverty rate stands at 7.3%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Murray have an average one-way commute time of 27.6 minutes.
Education & Demographics
15.4% of Murray residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 4.9% White, 0.3% Hispanic or Latino, 1.1% Black or African American, and 0.5% Asian residents, with 5.4% of the population being foreign-born.
Cost of Living in Murray, IA
Compared to national averages, Murray has a median household income of $60,313 (20% below the national median of $75,149). Home values average $76,300, which is 69% below the national median. Monthly rent at $782 is 33% below the US average of $1,163. Within Iowa, Murray's income is 11% below the state average of $67,947, and home values are 42% below the state median of $132,237.
Why Live in Murray, IA?
Murray offers affordable housing with a median home value of $76,300, below the US average of $244,900, and rent that’s lower than the national average at $782/month, and a low poverty rate of 7.3%, better than the national average.
Potential considerations include median household income ($60,313) that falls below the national average. However, Murray’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Murray has a population of 648 with a median age of 30.1 years. Compare Murray with other cities to see how it stacks up, or explore all cities in Iowa.
Similar Cities Near Murray
Cities in Iowa with a similar population size.
Demographics
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Economy & Education
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Other Cities in Iowa
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Murray
What is the population of Murray, IA?
The population of Murray, IA is 648 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Iowa.
What is the median household income in Murray?
The median household income in Murray, IA is $60,313 per year, which is 20% below the national median of $75,149.
What is the median home value in Murray?
The median home value in Murray, IA is $76,300, which is 69% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Murray?
The median monthly rent in Murray, IA is $782, which is 33% below the national average of $1,163/month.
What is the unemployment rate in Murray?
The unemployment rate in Murray, IA is 4.0%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Murray, IA a good place to live?
Murray offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 648 and a median age of 30.1, the city appeals to young professionals and families.
How educated is Murray, IA?
15.4% of residents in Murray aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Murray?
Key cost-of-living indicators for Murray, IA: median home value is $76,300 (69% below national), median rent is $782/month, and median household income is $60,313. The home-value-to-income ratio is 1.3x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Murray?
The poverty rate in Murray, IA is 7.3%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Murray, IA?
Murray's population is 4.9% White, 0.3% Hispanic or Latino, 1.1% Black or African American, 0.5% Asian, and 0.0% two or more races. 5.4% of residents are foreign-born.