Quick facts: Durham, NC

Quick Facts

98.5
Cost of Living
below US average
291,928
Population
39.28
Crime Rate per 1000
above US average
$74,710
Median Income
below US average
$404,990
Median House Price
above US average
$1860.6
Average Rent
above US average
13%
Poverty Rate
above US average
3.6%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $74,710.

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Income Needed to Buy

βœ— Stretch
$127k/year
Based on $404,990 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $127k vs median $74,710
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Income Needed to Rent

⚠ Stretch
$80k/year
Based on $1860.6/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $80k vs median $74,710
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Durham, NC

Durham, North Carolina, is a vibrant city known for its rich history, diverse culture, and thriving research and educational institutions. It's part of the Research Triangle, alongside Raleigh and Chapel Hill, making it a hub for innovation and technology thanks to institutions like Duke University and North Carolina Central University. Durham boasts a flourishing food scene, with numerous award-winning restaurants and local eateries that highlight Southern cuisine and farm-to-table freshness. Visitors can explore the historic tobacco district, which features unique shops, art galleries, and breweries, reflecting the city's transformation from its tobacco roots. Outdoor enthusiasts can enjoy numerous parks, trails, and the nearby Eno River State Park, offering opportunities for hiking, kayaking, and picnicking. The city is also rich in arts and culture, with events like the annual Full Frame Documentary Film Festival and vibrant performances at the Durham Performing Arts Center. With a growing population and a mix of urban and suburban living, Durham offers a dynamic community atmosphere, making it an attractive place for residents and visitors alike.

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