Durham, NC—27704
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 $312,000, with a year-over-year change of -1.5%. This indicates that home prices in Durham, NC are decreasing. According to Zillow, the 1-year price projection is 0.9%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $312,000 | -1.5% |
| Single Family | $314,000 | -1.6% |
| Condos | $232,000 | 8.9% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $201,000 | 4.1% |
2 Bed | $254,000 | -1.6% |
3 Bed | $313,000 | -1.6% |
4 Bed | $378,000 | -1.6% |
| 5 Bed | $426,000 | -2.1% |
% of Housing Stock
Rental Trends — Durham, NC
As of July '25, Rentcast reports the average rent in Durham, NC is $1,690, with a year-over-year rent change of -1.2%. Per bedroom, the median rent as of July '25 in Durham, NC is 1-bedrooms: $1,180, 2-bedrooms: $1,560, 3-bedrooms: $1,880, 4-bedrooms: $2,140. The most common rental property sizes in Durham, NC are 2-bedroom and 3-bedroom, accounting for 40.1% and 33.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,700 | $1,690 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,200 | $1,180 |
| 2 Bed Rent | $1,560 | $1,560 |
| 3 Bed Rent | $1,860 | $1,880 |
| 4 Bed Rent | $2,180 | $2,140 |
% 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 43. This is a increase of 9.0% 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 40.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $344,000 | 1.0% |
Listing Count | 172 | 28.0% |
| Listings as % of Homes | 0.5% | 28.0% |
Days on Market | 43 | 9.0% |
Demographics — Durham, NC
As of the latest ACS Survey released in 2023, Durham, NC has a population of 41,300, which has increased by 5.3% over the past 5 years. Durham, NC is a moderately popular place for families, as children make up 23.1% of the population. The area has a moderately educated workforce, with 33.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 41,300 | 5.3% |
% Under 18 | 23.1% | -19.5% |
% Seniors | 12.6% | 22.3% |
% WFH | 12.1% | 303.3% |
% w/ College Degree | 33.2% | 14.1% |
As of the latest ACS Survey released in 2023, Durham, NC is a predominantly black area, with 48.4% of the population identifying as black. The black population has shrunk by 6.0% in the last 5 years. The second most common race or ethnicity in Durham, NC is white, making up 23.0% of the population. Foreign-born residents account for 16.6% of the population in Durham, NC, and this percentage has increased by 23.0% 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 | 23.0% | -16.4% |
% Black | 48.4% | -6.0% |
% Hispanic | 21.7% | 17.9% |
% Asian | 1.8% | 80.0% |
% Foreign Born | 16.6% | 23.0% |
Mortgage and Risk — Durham, NC
According to HUD data as of 2023, there were 772 mortgage originations in Durham, NC, of which 81.0% of loans were conventional mortgages. The average loan-to-value was 65.0%, with 31.0% above 90% LTV (very high). This implies large mortgage risk in Durham, NC. Investor activity is low, as 3.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 772 |
% Conventional Loans | 81.0% |
% Government Loans | 19.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Durham, NC
As of 2024, the percent of homes in Durham, NC under the Section 8 program is 15.6%. This is considered high, suggesting that the neighborhood is heavily 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 | 1,389 |
Total Units Section 8 | 1,096 |
% Rentals under Section 8 | 15.6% |
% Occupied Section 8 | 78.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $340 | $1,200 | $1,540 |
| 2 Bedroom | $200 | $1,560 | $1,760 |
| 3 Bedroom | $330 | $1,860 | $2,190 |
| 4 Bedroom | $460 | $2,180 | $2,640 |
Affordability — Durham, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.9 |
| Median Home Price | $312,000 |
| Median Household Income | $62,400 |