Marketized allocation of factors is an important means to promote regional development, while the property rights system also has an important role in promoting regional development. In this paper, after constructing the index system of factor marketized allocation and rural property right legal system, respectively, taking 16 villages in X place as examples, the indexes are normalized, and the entropy method is used to measure the development level of the two over time. Combining the grey correlation analysis method can solve the correlation between factor marketized allocation and rural property rights legal system after completing the measurement. The study shows that the levels of factor marketization allocation and the development level of the property rights system are not high in place X from 2015 to 2020, with most of them located below 0.2 and 0.3, respectively. The mean level of the property rights system fluctuated greatly from 2015 to 2020, with the fastest growth rate of 12.38% in 2020. Overall, the factor of marketization allocation has the lowest correlation with the legal and political environment (0.69-0.79) and the highest correlation with property rights (0.72-0.90). The correlation between external capital acquisition and property rights is the highest (0.843), while the correlation between labor output and intellectual property rights is the lowest (0.693). By optimizing the legal system of property rights, it is possible to promote the development level of regional factor market allocation, according to this study.