Durham, NC
Durham County · Pop. 295,450
Ranked #131 of 243 cities
38Crisis
Median Home Price
🏠$380K
4.5% YoY
Median Rent
🔑$1,500
3.5% YoY
Median Income
💰$58K
Rent Burden
📊32.5%
% of income to rent
Income to Buy
🏦$109K
annual income needed
Income to Rent
📝$60K
annual income needed
Price-to-Income
⚖️6.6x
Homeownership
🏡48.0%
Rent vs. Buy
Buy
$2,023/mo
Est. mortgage (7%, 20% down)
Need $109K/yr income
Rent
$1,500/mo
Median rent
Need $60K/yr income
How Durham Compares
| Metric | Durham | North Carolina | National |
|---|---|---|---|
| Home Price | $380K | $309K | $410K |
| Rent | $1,500 | $1,245 | $1,500 |
| Income | $58K | $71K | $75K |
| Rent Burden | 32.5% | 31.5% | 30.0% |
Key Takeaways
- • Home prices in Durham are 7% lower than the national average.
- • Rent is about average than the national average.
- • You need an income of $109K to comfortably buy a home here.
- • The homeownership rate is 48.0%, compared to 65.0% nationally.