There are currently 83,902 real estate properties in Durham, NC, with a median automated valuation model (AVM) price of $313,200.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Durham, NC, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Durham, NC, is $353,347.00, with the most expensive house in Durham, NC, topping out at $92,702,700.00 and the cheapest home in Durham, NC, clocking in at $36,500.00. In other words, there’s something for every potential homebuyer or savvy investor in Durham, NC!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Durham, NC, is on a rollercoaster ride. The average rent price in Durham, NC, is $1,437.00. Indeed, when looking to rent in Durham, NC, you can expect to pay as little as $550.00 or as much as $4,750.00, with the average rent median estimated to be $1,350.00. The good news is that finding an affordable and desirable property to rent in Durham, NC -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
Find the best foreclosure homes listings for sale — bank-owned, government (Fannie Mae, Freddie Mac, HUD, etc.) and others — in and near the Durham, NC area at Foreclosure.com. Get information on foreclosure homes for rent, how to buy foreclosures in Durham, NC and much more. Save thousands at closing with home foreclosure listings in Durham, NC — up to 75% off market value!
Durham is located in Durham, North Carolina, with an estimated municipal population of 278,993 residents. All of the best foreclosed homes for sale in Durham are located in the following zip code areas on Foreclosure.com: 27703 27705 27704 27707 27701 27709 27712 27713 27706 27708 27710 27715 27717 27722. The estimated population per square kilometer (.62 miles) in Durham is 959.
So, about how much do homes cost in Durham? The most recent median value of resident-owned homes in Durham is 223,378. An estimated 50.2 percent of households in Durham own their homes, with an average family size of 3.07. The median household income in Durham is 58,905, with27.7 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Durham, the median commute time of resident workers (in minutes) is 22.7. And last, but certainly not least, are you looking for homes to rent in Durham? If so, the average rent price paid by renters in Durham is 1,058, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Durham, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in Durham is 33.9, split between 47.1 percent male versus 52.9 female. The percentage of residents who report being married in Durham is 39.9, with an average family size of 3.07.
The percentage of residents who report their race in Durham is as follows:
|Black / African American||38.7%|
|American Indian / Alaskan Native||0.3%|
|Native Hawaiian / Other Pacifc Islander||0%|
Looking for family-friendly neighborhoods in and/or near Durham? Or maybe you are searching for 55+ active adult communities in and/or near Durham?
The percentage of residents who report their age in Durham is as follows:
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Durham with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Durham.
How do you know that living in -- or moving to -- Durham is right where you need to be? Perhaps you grew up in Durham or already live nearby; therefore, the decision to buy a home in Durham is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Durham for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in Durham:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Durham.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Durham can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Durham, meanwhile, can field multiple offers from more qualified buyers.
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