Rent to own Homes in Murphy, TX
Less than half a century ago, Murphy had fewer than 200 residents. Today, the town has nearly 20,000 and is poised to explode. Murphy consistently makes lists of best places to live. Located in Collin County, near larger suburbs of Plano and Allen, Murphy is one of the fastest-growing suburbs of the Dallas/Fort Worth Metroplex. Highways connect Murphy to downtown Dallas, Irving and other hubs, while many of the area's largest lakes and parks are in and around Murphy.
Murphy, TX is a great place for affordable rent-to-own homes! With a median household income of over $140,828 and a median rent of $2,150, the Murphy, TX rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Murphy, TX. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
More Murphy, TX Property Resources
Rent to own Homes in Cities Near Murphy, TX
- Addison
- Anna
- Balch Springs
- Blue Ridge
- Carrollton
- Celina
- Cockrell Hill
- Coppell
- Dallas
- Farmers Branch
- Fate
- Forney
- Frisco
- Garland
- Grand Prairie
- Hackberry
- Hebron
- Highland Park
- Hutchins
- Irving
- Josephine
- Lake Dallas
- Lakewood Village
- Lavon
- Lewisville
- Little Elm
- Lowry Crossing
- Lucas
- McLendon-Chisholm
- Mesquite
- Mobile City
- Murphy
- Nevada
- Oak Point
- Paloma Creek South
- Princeton
- Prosper
- Providence Village
- Richardson
- Rockwall
- Rowlett
- Royse City
- Sachse
- Savannah
- Seagoville
- Seis Lagos
- Sunnyvale
- University Park
- Weston
- Wylie
Neighborhoods in Murphy, TX
Glen Ridge Estates rent to own homes Maxwell Creek North rent to own homes Murphy Famrs rent to own homes The Gables at North Hill rent to own homes The Timbers rent to own homes Travis Estates rent to own homes The Ranch rent to own homes Willow Wood Ranch Estates rent to own homes Windy Hill Farms rent to own homes The Aviary rent to own homesPopular Zip Codes in Murphy, TX
75094 rent to own homesBuying a Home in Murphy, TX
Murphy, TX is seeing rapid growth and Murphy, TX's' housing market remains not optimal with an average home price that is 72% above the 2024 national average. Murphy, TX is part of Collin county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2024 for county Collin is 2.19% which is above the national average, which is 0.99%.
Median Home Price in Murphy, TX
Median Rent in Murphy, TX
Top 4 Reasons to Live in Murphy, TX
Texas-sized fun and traditions! Murphy has everything the great outdoors of Texas can offer: ranches, football, and weekends on the lake. Nearby Southfork Ranch is the setting of TV's Dallas. Tom Kimbrough Stadium plays host on Friday nights to all the nationally competitive high school football teams in the Plano area. Living in Murphy also means you get to enjoy Murphy Central Park and tons of other green spaces in town, plus fishing and boating on Lake Lavon and Lake Ray Hubbard.
Booming market = real estate options! Murphy finds itself in the middle of a population boom, with the number of residents set to grow a whopping 35% between 2010 census figures and 2020 projections. The market has plenty of homes for sale in Murphy to meet this demand. Take your pick of spacious properties around McMillen High School or near Pecan Hollow Golf Course, or find a house for sale south of Plano Parkway in the Maxwell Creek area. You can find great deals on both existing houses built in the last few decades and new constructions.
World-class shopping! While the Dallas area boasts high-end shopping malls, Murphy itself has fine shopping in more casual retail centers. When you live in Murphy, you never have to drive more than a few minutes to enjoy specialty retailers, like Run On! for athletic wear or Sprouts Farmers Market for fresh gourmet foods. When you want to hit up the world-renowned malls of DFW, you have NorthPark Center down 75 and The Shops at Willow Bend in Plano, to name a couple of options.
Live well in a hot DFW location! The Metroplex continues expanding, and Murphy's location makes it highly desirable, whether you work in Collin County, in downtown Dallas, or elsewhere in the area. If you're relocating for work in Dallas, you would be wise to choose a rent to own home in Murphy with lightning-fast access to both 75 and the Bush Turnpike. This is also prime real estate to invest in, with employers like Perot Systems, JCPenney and Frito-Lay making Collin County one of the hottest neighborhoods in which to own a home.