Buy vs Rent in Durham, NC (2026)
Median home price $390K · 1BR rent $1,750/mo · Price-to-rent ratio 18.6x.
Median home price
$390K
1BR rent
$1,750/mo
Price-to-rent ratio
18.6x
Verdict
Neutral
Monthly cost of buying — 3 scenarios
30-year mortgage at 7% · Includes property tax, insurance, and maintenance estimates
| 3.5% down (FHA) | 10% down | 20% down (conventional) | |
|---|---|---|---|
| Down payment | $13,650 | $39,000 | $78,000 |
| Mortgage (P&I) | $2,504/mo | $2,335/mo | $2,076/mo |
| Property tax (est.) | $358/mo | $358/mo | $358/mo |
| Insurance (est.) | $163/mo | $163/mo | $163/mo |
| Maintenance (est.) | $325/mo | $325/mo | $325/mo |
| Total monthly cost | $3,350vs rent: +$1,600/mo | $3,181vs rent: +$1,431/mo | $2,922vs rent: +$1,172/mo |
| Income to qualify | $107,314/yr | $100,071/yr | $88,971/yr |
| Break-even (approx.) | ~1 yrs | ~2 yrs | ~6 yrs |
Durham housing context
$72K
Median HH income
per year
$88,971
Income needed (20% down)
per year
+$17K
Affordability gap
vs median income
Frequently asked questions
Is it better to buy or rent in Durham?
Durham's price-to-rent ratio of 18.6x is in the neutral zone (15-20x). Whether to buy or rent depends on how long you plan to stay, your down payment, and your personal finances.
How much do I need to earn to buy a home in Durham?
With a median home price of $390K in Durham, you'd need an annual income of roughly $88,971 to qualify with 20% down (at 7% rate, 28% housing ratio). With 10% down, you'd need about $100,071/year.
Durham full cost of living breakdownCheaper cities near DurhamHow much to retire in DurhamCompare mortgage rates
Mortgage at 7% 30-yr fixed · Property tax 1.1% est. · Maintenance 1% est. · Zillow, BLS · Q1 2026 · For general guidance only