Total monthly cost of ownership
Cost to Own a Home in Murphys, California
A $506,000 home here costs
$3,687per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $158,000 a year.
A standard mortgage calculator would have told you $2,759. The real number is $928 higher every month, 34% more than the payment most buyers budget for.
Compare Calaveras County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Murphys from a five-year rolling sample, and with about 1,821 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Calaveras County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Murphys against Calaveras County and California
| Measure | Murphys | Calaveras County |
|---|---|---|
| Median home value | $506,300 | $441,800 |
| Median property tax | $2,525 | $3,154 |
| Effective tax rate | 0.499% | 0.714% |
| Median gross rent | $1,581 | $1,615 |
| Population | 1,821 | 45,995 |
The weather behind that power bill
Murphys sits in Calaveras County, which averages a high of 97.1°F in its hottest month and a low of 37.8°F in its coldest, with 29.75" of precipitation a year and 53% of it in a single three-month stretch. That climate drives 1,842 cooling and 2,547 heating degree days, which is what sets the $150 electricity line above.
See the full climate breakdown for Calaveras County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Calaveras County
Full Calaveras County cost breakdown · Every county in California
Talk to someone who works this market
These are Murphys averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Murphys every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Murphys I already own here and may sell
Common questions
How much does it cost to own a home in Murphys?
A $506,000 home in Murphys, California costs approximately $3,687 per month with 20% down at 7.24%. That is $2,759 principal and interest, $210 property tax, $78 homeowners insurance, $218 utilities and $422 set aside for maintenance.
What is the property tax rate in Murphys?
Murphys has an effective property tax rate of 0.499%, based on a median home value of $506,300 and median real estate taxes of $2,525. That is lower than the Calaveras County average of 0.714%.
What is the average home price in Murphys?
The median owner-occupied home value in Murphys, California is $506,300, against $441,800 across Calaveras County.
Is it cheaper to rent or buy in Murphys?
Median gross rent in Murphys is $1,581 a month, against $3,687 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Murphys?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Murphys, California at today's rate takes a household income of roughly $158,000 a year. That covers the full $3,687 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Murphys, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for California.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.