How Much Income Do You Need to Buy a New Single-Family Home in Murray?
As of September 2026, the least expensive new single-family homes in Murray start around $659,900 (only a small number of new single-family homes are listed there right now, so treat the entry price as rough) – that is roughly the bottom 10% of new-construction listings – and the median is near $759,900. At the entry price, the full monthly payment (principal and interest, FHA mortgage insurance, Murray’s property tax at about 0.55% of value, homeowners insurance around $75, and a modest new-construction HOA (about $50)) runs about $3,765 a month, which takes a household income of roughly $79,000 to $105,000 a year. Around the median price the payment is about $4,317 a month, which needs roughly $91,000 to $120,000 a year. Income figures are a range: the lower end assumes a lender uses FHA’s automated-underwriting ceiling near a 57% debt-to-income ratio (which needs strong credit and reserves), the upper end the standard 43% FHA guideline that most files are written to. Both assume no car payment, student loan, or other monthly debt – any of those pushes the number up. This assumes an FHA loan at 3.5% down and a builder incentive rate near 3.875% on a 7/6 ARM, which Utah lenders qualify you at. Prices and the local property-tax rate are as of September 2026 and move over time; above the roughly $720,000 FHA loan limit for the Salt Lake and Utah County area a buyer shifts to a conventional loan at about 5% down, which changes the math.
Related: How Much Income Do You Need to Buy New Construction in Utah County? · How Do Utah Property Taxes Work on a Newly Built Home? · Moving to Utah