Durham appreciation rates and housing market information

Durham housing market information

With 187,183 people, 80,872 houses or apartments, and a median cost of homes of $209,691, Durham real estate is some of the most expensive in North Carolina, although Durham home values aren't among America's most expensive.

single-family detached homes are the single most common housing type in Durham, accounting for 52.01% of the city's housing units. Other types of housing that are prevalent in Durham include large apartment complexes or high rise apartments (29.27%), duplexes, homes converted to apartments, or other small apartment buildings (12.23%), and a few row houses and other attached homes (5.99%).

People in Durham primarily live in small (one, two, or no bedroom) single-family detached homes. Durham has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Durham built from 1970-1994, so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Durham built from 1940-1969 (31.32%). A lesser amount of the housing stock also hails from 1995 and later (14.88%), and some were built from 1939 and earlier (14.88%).

Durham home appreciation rates

Real estate appreciation rates in Durham have tracked to near the national average over the last ten years, with the annual appreciation rate averaging 6.23% during the period.

Appreciation rates are so strong in Durham that despite a nationwide downturn in the housing market, Durham real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Durham appreciation rates continue to be some of the highest in America, at 2.53%, which is higher than appreciation rates in 70% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Durham. Durham appreciation rates in the latest quarter were at -0.11%, which equates to an annual appreciation rate of -0.44%.

Relative to North Carolina, our data show that Durham's latest annual appreciation rate is higher than 52% of the other cities and towns in North Carolina.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Durham differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Durham - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Durham real estate investment or home purchase decisions.