Durham, NC—27703
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Durham, NC
As of Oct '25, the median home price in Durham, NC is $393,000, with a year-over-year change of -2.7%. This indicates that home prices in Durham, NC are decreasing. According to Zillow, the 1-year price projection is 1.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $393,000 | -2.7% |
| Single Family | $395,000 | -2.7% |
| Condos | $198,000 | -3.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $247,000 | -8.5% |
2 Bed | $335,000 | -2.3% |
3 Bed | $366,000 | -2.1% |
4 Bed | $458,000 | -3.8% |
| 5 Bed | $541,000 | -3.4% |
% of Housing Stock
Rental Trends — Durham, NC
As of July '25, Rentcast reports the average rent in Durham, NC is $1,780, with a year-over-year rent change of -5.3%. Per bedroom, the median rent as of July '25 in Durham, NC is studios: $1,280, 1-bedrooms: $1,330, 2-bedrooms: $1,710, 3-bedrooms: $2,080, 4-bedrooms: $2,470. The most common rental property sizes in Durham, NC are 2-bedroom and 3-bedroom, accounting for 35.5% and 34.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,750 | $1,780 |
| Studio Rent | $1,350 | $1,280 |
| 1 Bed Rent | $1,360 | $1,330 |
| 2 Bed Rent | $1,710 | $1,710 |
| 3 Bed Rent | $2,000 | $2,080 |
| 4 Bed Rent | $2,400 | $2,470 |
% of Rental Stock
Property Listings — Durham, NC
As of Oct '25, Realtor.com reports that the median days on market for a home in Durham, NC is 48. This is a increase of 11.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 34.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $423,000 | -1.0% |
Listing Count | 484 | 43.0% |
| Listings as % of Homes | 1.2% | 43.0% |
Days on Market | 48 | 11.0% |
Demographics — Durham, NC
As of the latest ACS Survey released in 2023, Durham, NC has a population of 63,000, which has increased by 23.1% over the past 5 years. Durham, NC is a moderately popular place for families, as children make up 22.7% of the population. The area has a highly educated workforce, with 45.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 18.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 63,000 | 23.1% |
% Under 18 | 22.7% | -8.1% |
% Seniors | 14.4% | 50.0% |
% WFH | 18.4% | 425.7% |
% w/ College Degree | 45.1% | 27.8% |
As of the latest ACS Survey released in 2023, Durham, NC is a predominantly black area, with 40.3% of the population identifying as black. The black population has shrunk by 19.4% in the last 5 years. The second most common race or ethnicity in Durham, NC is white, making up 31.7% of the population. Foreign-born residents account for 15.5% of the population in Durham, NC, and this percentage has increased by 19.2% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 31.7% | 13.6% |
% Black | 40.3% | -19.4% |
% Hispanic | 19.9% | 10.6% |
% Asian | 4.6% | 64.3% |
% Foreign Born | 15.5% | 19.2% |
Mortgage and Risk — Durham, NC
According to HUD data as of 2023, there were 1426 mortgage originations in Durham, NC, of which 87.0% of loans were conventional mortgages. The average loan-to-value was 65.0%, with 26.0% above 90% LTV (very high). This implies large mortgage risk in Durham, NC. Investor activity is low, as 7.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 1,426 |
% Conventional Loans | 87.0% |
% Government Loans | 13.0% |
% Investor Loans | 7.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Durham, NC
As of 2024, the percent of homes in Durham, NC under the Section 8 program is 7.8%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Durham, NC, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 778 |
Total Units Section 8 | 681 |
% Rentals under Section 8 | 7.8% |
% Occupied Section 8 | 82.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $290 | $1,360 | $1,650 |
| 2 Bedroom | $180 | $1,710 | $1,890 |
| 3 Bedroom | $350 | $2,000 | $2,350 |
| 4 Bedroom | $430 | $2,400 | $2,830 |
Affordability — Durham, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.5 |
| Median Home Price | $393,000 |
| Median Household Income | $87,000 |