Durham, NC—27705
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 $467,000, with a year-over-year change of -0.1%. This indicates that home prices in Durham, NC are flat. According to Zillow, the 1-year price projection is 1.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $467,000 | -0.1% |
| Single Family | $481,000 | 0.2% |
| Condos | $246,000 | 3.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $195,000 | -0.5% |
2 Bed | $294,000 | -1.0% |
3 Bed | $432,000 | -0.2% |
4 Bed | $705,000 | 1.1% |
| 5 Bed | $854,000 | 0.1% |
% of Housing Stock
Rental Trends — Durham, NC
As of July '25, Rentcast reports the average rent in Durham, NC is $1,720, with a year-over-year rent change of -5.5%. Per bedroom, the median rent as of July '25 in Durham, NC is studios: $1,510, 1-bedrooms: $1,520, 2-bedrooms: $1,740, 3-bedrooms: $2,270, 4-bedrooms: $3,160. The most common rental property sizes in Durham, NC are 2-bedroom and 1-bedroom, accounting for 43.4% and 31.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,560 | $1,720 |
| Studio Rent | $1,580 | $1,510 |
| 1 Bed Rent | $1,500 | $1,520 |
| 2 Bed Rent | $1,550 | $1,740 |
| 3 Bed Rent | $2,000 | $2,270 |
| 4 Bed Rent | $2,750 | $3,160 |
% 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 45. This is a increase of 17.0% 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 | $488,000 | 10.0% |
Listing Count | 169 | 45.0% |
| Listings as % of Homes | 0.3% | 45.0% |
Days on Market | 45 | 17.0% |
Demographics — Durham, NC
As of the latest ACS Survey released in 2023, Durham, NC has a population of 48,400, which has decreased by -1.2% over the past 5 years. Durham, NC is a moderately popular place for families, as children make up 18.4% of the population. The area has a highly educated workforce, with 62.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 23.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 48,400 | -1.2% |
% Under 18 | 18.4% | 18.7% |
% Seniors | 16.0% | 6.0% |
% WFH | 23.5% | 285.2% |
% w/ College Degree | 62.4% | 13.5% |
As of the latest ACS Survey released in 2023, Durham, NC is a predominantly white area, with 53.9% of the population identifying as white. The white population has shrunk by 1.6% in the last 5 years. The second most common race or ethnicity in Durham, NC is black, making up 17.2% of the population. Foreign-born residents account for 18.6% of the population in Durham, NC, and this percentage has increased by 6.3% 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 | 53.9% | -1.6% |
% Black | 17.2% | -12.2% |
% Hispanic | 14.2% | 0.0% |
% Asian | 8.6% | -9.5% |
% Foreign Born | 18.6% | 6.3% |
Mortgage and Risk — Durham, NC
According to HUD data as of 2023, there were 546 mortgage originations in Durham, NC, of which 93.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 15.0% above 90% LTV (elevated). This implies medium mortgage risk in Durham, NC. Investor activity is low, as 4.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 546 |
% Conventional Loans | 93.0% |
% Government Loans | 7.0% |
% Investor Loans | 4.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Durham, NC
As of 2024, the percent of homes in Durham, NC under the Section 8 program is 4.3%. 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. 1-bedroom and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Durham, NC, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 537 |
Total Units Section 8 | 532 |
% Rentals under Section 8 | 4.3% |
% Occupied Section 8 | 77.8% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $70 | $1,500 | $1,570 |
| 2 Bedroom | $250 | $1,550 | $1,800 |
| 3 Bedroom | $240 | $2,000 | $2,240 |
| 4 Bedroom | -$50 | $2,750 | $2,700 |
Affordability — Durham, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.2 |
| Median Home Price | $467,000 |
| Median Household Income | $71,200 |