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Buy a rental in Murray, Utah: current rents, cap rates, which neighborhoods actually cash flow, and what management costs.
Ondo pairs neighborhood-level pricing, prep, and negotiation support with the realities of a $445K median home market in Murray.
Nearby Coverage
Murray's rental market presents a compelling investment opportunity. With a median home price of $445,000 and median rent of $1,500/month, the gross rent multiplier sits at approximately 24.7×, meaning the purchase price represents roughly 24.7 years of gross rental income. Population growth of 1.4% annually, driven by employers like Intermountain Medical Center and Zions Bancorporation, supports sustained rental demand. With 42% of Murray households renting, the tenant pool is established and active. We help investors identify properties that generate positive cash flow from day one and build long-term equity in Murray's appreciating market.
Murray has a well-rounded daily life that combines urban convenience with neighborhood charm. Morning commuters hop on TRAX at Murray Central station for a 15-minute ride to SLC or take I-15 in either direction. The Fireclay District and Murray's historic downtown offer evening dining, from craft burgers to ramen to Murray's beloved Greek restaurant scene. Fashion Place Mall handles major shopping needs. The Jordan River Parkway runs through Murray for cycling and running, and Wheeler Farm, a working farm with free admission, is a weekend amenity. Murray Fun Days in summer and the Park Center holiday events keep the community calendar full year-round.
Median Home Price
$445K
Median Rent
$1,500/mo
Population
52,000
Annual Growth
1.4%
Avg Days on Market
21
Owner-Occupied
58%
Ondo city medians as of Aug 2026 — verify. Not an MLS pull, appraisal, BPO, or CMA. Population and annual growth are approximate and are not tied to a named public source here. Check the U.S. Census Bureau for official figures.
We define your target returns, budget, preferred property type, and management expectations. Whether you're buying your first rental or adding to a portfolio, we tailor the search to your investment thesis.
For every property we present, you get a cash flow analysis including purchase price, down payment, financing costs, projected rent, operating expenses (vacancy, maintenance, insurance, taxes, management), and net yield. No surprises.
Once you close, our property management team takes over: marketing, tenant placement, rent collection, maintenance, and reporting. You get passive income without the daily operational burden.
School District: Murray School District
Notable schools: Murray High School, Hillcrest Junior High, Liberty Elementary
Centrally located city with its own school district, major hospital campus, and TRAX light rail connectivity.
Outdoor Activities
Local Landmarks
Returns vary by property, financing, and management approach. In the current market, cash-on-cash returns for a well-purchased rental property typically range from 4–8% before appreciation. Cap rates for single-family rentals generally run 4–6%. Total returns including appreciation, principal paydown, and tax benefits can exceed 12–15% annually. We provide property-specific pro forma analysis so you know exactly what to expect before making an offer.
Investment property loans typically require 15–25% down for a single-family rental and 25% for 2–4 unit properties. Some portfolio lenders offer 10% down for strong borrowers. DSCR (debt service coverage ratio) loans are available for investors who prefer to qualify based on the property's rental income rather than personal income. We help you structure financing that preserves capital for multiple acquisitions.
It depends on your time, proximity, and number of properties. Self-management saves the management fee (typically 8–10% of rent) but requires you to handle tenant calls, maintenance coordination, rent collection, and legal compliance. As your portfolio grows past 2–3 units, the time investment usually exceeds the management fee savings. Our property management service handles everything from day one.
A 1031 exchange lets you defer capital gains taxes when you sell an investment property and reinvest the proceeds into a like-kind replacement property. Strict timelines apply: 45 days to identify replacement properties and 180 days to close. We coordinate with qualified intermediaries and help you identify replacement properties that improve your portfolio's cash flow and appreciation potential.
Intermountain Medical Center employs thousands of workers across all shifts, doctors, nurses, technicians, administrators, and support staff. This creates a deep, year-round demand pool for rentals in Murray. Travel nurses on 13-week assignments create a furnished rental niche. Permanent staff prefer proximity to minimize commute time, especially those on early or late shifts. Properties within 10 minutes of the hospital offer a short commute to Intermountain Medical Center. The hospital's institutional stability insulates Murray's rental market from broader economic volatility.
The Fireclay District is an emerging arts and commercial zone in Murray, centered around the redevelopment of the historic fireclay manufacturing area. It features local restaurants, galleries, event spaces, and Murray's growing craft food scene. The district is evolving into a walkable destination that gives Murray cultural identity beyond the mall and hospital. For investors, proximity to Fireclay adds walkable restaurants, galleries, and foot traffic that support rent and occupancy.
Yes, Murray City School District is one of Utah's few city-operated districts, separate from Granite and Canyons school districts that serve surrounding areas. It is small and separately governed from Granite and Canyons. Continuity of a school year can support renewals when a tenant already lives in the zone.
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