Mortgage payment estimates, closing cost breakdowns, and homebuying data for Durham, North Carolina.
Median Home Price
$375K
Population
284K
Avg Monthly Rent
$1,480
Property Tax Rate
0.78% *
* Property tax shown is the North Carolina state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Durham.
Durham vs North Carolina Median
The median home price in Durham is $375,000, which is 10% above the North Carolina state median of $340,000.
Mortgage Calculator — Durham, NC
Pre-filled with Durham median home price and North Carolina tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $375K home using North Carolina's 0.78% tax rate and $2,300/yr insurance.
5% Down
$2,895/mo
Down: $18,750
Loan: $356K
P&I: $2,252
Tax: $244
Insurance: $192
PMI: $208
10% Down
$2,766/mo
Down: $37,500
Loan: $338K
P&I: $2,133
Tax: $244
Insurance: $192
PMI: $197
20% Down (No PMI)
$2,332/mo
Down: $75,000
Loan: $300K
P&I: $1,896
Tax: $244
Insurance: $192
Income needed (28% rule): $100K/year with 20% down, $119K/year with 10% down.
Rent vs Buy in Durham
Rent
$1,480/mo
vs
Buy (10% down)
$2,766/mo
Price-to-rent ratio: 21.1 — At a ratio above 20, renting may be more economical in Durham for shorter stays. Buying costs $1,286 more per month than renting, and it typically takes 5-7 years to break even on the transaction costs of buying.
The median home price in Durham is $375,000, 10% above the North Carolina state median of $340,000. With a population of 283,506, Durham is a mid-size city where home prices reflect strong demand and local economic factors.
Property taxes in North Carolina average 0.78% annually. This moderate property tax rate means a $375,000 home in Durham would carry roughly $244/month in property taxes. Homeowners insurance in North Carolina runs approximately $2,300 per year. This is within the normal range nationally.
Average rent in Durham is $1,480/month. With a price-to-rent ratio above 20, renting could be more economical in the short term — use our Rent vs Buy calculator to model your specific timeline.
Durham presents moderate affordability. The $375K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Durham.