Durham, North Carolina Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Durham, North Carolina rental market.
Highlights
An apartment for rent in Durham, North Carolina typically goes for $1,534 per month, while a single-family home for rent in Durham, North Carolina has a monthly cost of around $1,327. Renter-occupied units make up 48% of the local housing market, while the rental vacancy rate in Durham, North Carolina is at 6.
Durham, North Carolina
Average Apartment Rent
$1,534
Y-o-Y Change in Average
Apartment Rent
-1.7%
Average Single-Family Rent
$1,327
As of November 2024
Compared to a year ago, Durham, North Carolina apartments have recorded a -1.7% rent decrease.
Durham, North Carolina Average apartment rent trend
Durham, North Carolina Average Apartment Rent
Durham, North Carolina Apartment rent ranges
At 53.04%, apartments priced $1,000 - $1,500 represent the bulk of Durham, North Carolina rentals, while condos priced $700 - $1000 hold the lowest share of the market – 3.1%.
Durham, North Carolina Housing tenure**
Renters take up 48% of Durham, North Carolina real estate, occupying a total of 57,773 units, while homeowners live in 62,613 properties.
Median number of rooms of renter-occupied housing units**
4
Renter median household income**
$52,059
Average household size of renter-occupied housing units**
2.14
Rental vacancy rate**
6%
Durham, North Carolina Renter-occupied housing units by no. of bedrooms**
There are 24,682 rentals in Durham, North Carolina with 2 beds making up the highest share of the market, at 43%. Units with 4 beds, on the other hand, hold the lowest percentage (4%), amounting to 2,185 units. Overall, the median number of rooms in Durham, North Carolina homes for rent is 4.
Durham, North Carolina Renter-occupied units by age of householder**
Most condos for rent in Durham, North Carolina are occupied by residents in the 25 - 34 years age group (34%), followed by those in the 35 - 44 years age group (18%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 2%.
Durham, North Carolina Renter-occupied housing units by family type**
Durham, North Carolina Renter-occupied housing units by the presence of own children**
A total of 23,976 apartments for rent in Durham, North Carolina, or 42% of all rentals are family households. Additionally, 23% of rental homes include children under the age of 18 – that’s 13,495 units. All in all, the median size of a renter-occupied household in Durham, North Carolina is 2.14.
Durham, North Carolina Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 46% of the rental market. In contrast, residents with less than a high school degree reside in 10% of the homes for rent in Durham, North Carolina.
Durham, North Carolina Renter-occupied units by year structure built**
The highest share of Durham, North Carolina apartment rentals, namely 19% or 11,107 units, were Built 2010 - 2019, followed by those Built 1990 - 1999 (18%, 10,412 units), and the ones Built 2000 - 2009 (16%, 9,216 units).
Durham, North Carolina Renter-occupied units by year householder moved in**
Median year renter moved into unit 2018
Most Durham, North Carolina renters (44%) moved in 2018 to 2020, while only 1% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Durham, North Carolina condos for rent is 2018.
Durham, North Carolina Renter-occupied housing units by vehicles available**
When it comes to transportation options, 51% of Durham, North Carolina renters have 1 vehicle available per household, 29% of them have 2 vehicles available, and 14% have No vehicle available.
Durham, North Carolina Means of transportation to work of householders living in renter-occupied housing units**
Durham, North Carolina Geographical mobility in the past year for householders living in renter-occupied housing units**
Durham, North Carolina Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Durham, North Carolina apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
