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Homes Under $500,000 in Murray, Utah
Murray sits right in the middle of the Salt Lake Valley, and that central location is exactly why the under-$500K price band here gets so much attention. Buyers priced out of Sugar House or Holladay routinely shift their search south to Murray's older neighborhoods — places like the streets around Murray Park, the grid between 5300 South and Vine Street, and the pockets near Murray High. Homes in this range are usually 1960s–1980s brick ramblers, split-entries, or updated townhomes, often on lots large enough for a garden and a detached garage. The Murray City School District (one of only a handful of independent city districts in Utah) is a real draw for families, and access to two TRAX stations makes this one of the few mid-valley cities where car-free commuting is genuinely workable.
At this price point you're competing with first-time buyers, downsizers from the east bench, and investors looking at basement-apartment potential, so condition and updates drive the offer count more than square footage does. Expect to see a mix of original-owner homes that need cosmetic work and recently flipped properties priced near the top of the range. Murray's location also means quick access to Intermountain Medical Center, Fashion Place, and I-215, which holds resale value steady even during slower markets. Browse the active listings below to see what's currently available under $500,000 in Murray.
May 2026 · Murray market
Live from the Utah MLS — what's actually happening in Murray right now.
Median sale
$495,250
42 closed in May 2026
Median DOM
10 days
listing → contract
Sale-to-list
99.1%
of final list price
Unsold inventory
149
active + pending
83 matching · page 3 of 4
Active listings
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Common questions
About homes under $500k in Murray.
What kind of homes can I realistically get in Murray under $500K? ▾
Most sub-$500K listings in Murray are 3-bedroom ramblers or split-entries built between the 1950s and 1980s, usually 1,400 to 2,200 finished square feet on a quarter-acre lot. You'll also see townhomes and condos near Fashion Place Mall and the Murray Central TRAX station in the $300Ks to mid-$400Ks. Fully updated single-family homes at this price point move fast, often within a week.
Which Murray neighborhoods have the most inventory under $500K? ▾
The area east of State Street between 4500 South and 5900 South tends to have the most single-family homes in this range, along with pockets near Murray Park and the older grid west of I-15. Townhome and condo communities near Intermountain Medical Center and along Vine Street also see steady turnover under $500K.
Are property taxes and HOA fees something to watch at this price point? ▾
Murray sits in Salt Lake County with a combined property tax rate around 0.6–0.7% of assessed value, so a $475K home runs roughly $2,900–$3,300 per year. Condos and townhomes typically carry HOA dues of $150–$350/month, which can affect what loan amount you qualify for even when the list price fits your budget.
How competitive is the under-$500K market in Murray right now? ▾
It's the most active price band in the city. Move-in-ready homes near TRAX, Murray Park, or Murray School District boundaries often see multiple offers, while dated homes needing cosmetic work sit longer and leave room to negotiate. Pre-approval and a responsive agent matter more here than at higher price points.
Can I find a home with a finished basement under $500K? ▾
Yes — many of Murray's mid-century ramblers were built with full basements, and a good share have been finished into additional bedrooms, family rooms, or legal accessory apartments. Homes with a separate basement entrance and kitchenette tend to price near the top of this range because of the rental income potential.
Is Murray a good location for commuting if I work in Salt Lake or the south valley? ▾
Murray is one of the most central spots in the valley. Downtown Salt Lake is about 15 minutes north on I-15, the south end of the valley is 15–20 minutes south, and the Murray Central and Murray North TRAX stations connect directly to downtown and the U of U medical campus without driving.