Rent vs buy in Durham, NC
In Durham, North Carolina, typical rent is $1,626 /mo and typical home price is $384,724.
Over 7 years, renting comes out $40k ahead.
With Durham's typical rent and home value, the estimate assumes 20% down and today's mortgage rate. Your break-even point is year 16.
Clearly labeled opinion with the math shown. These are estimates, not quotes. Adjust any number, and the stamp will change.
- Renting leads by
- $40k after 7 years
- Break-even point
- year 16 when owning catches up
- Actual cost of ownership
- $3,324 /mo year 1, against $1,626 rent
Change my numbers
The stamp draws on Durham's typical rent and home value. Different rent, price or years can reverse the result for you.
Do your numbers differ from the city's?
Enter your own rent, price and down payment. Those figures change the stamp.
Is it cheaper to rent or buy in Durham?
Once you include the money returned when you sell, renting costs $40,032 less over 7 years. For the first 15 years, renting costs less. In year 16, owning catches up.
Rent. Buy. Net cost to date, year by year.
Average rent compared with mortgage payment in Durham
Rent and mortgage payments don't tell the full story. At Durham's typical price, these are all monthly costs during year 1.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,626 | All of it, every month |
| Mortgage payment | $2,098 | $1,849 of it is interest in year 1 |
| Property tax | $266 | 0.83% of the value a year |
| Insurance | $103 | Census median for the city |
| Upkeep | $321 | 1% of the value a year |
| Owning, cash out | $2,787 | $249 of it builds equity |
| Lost return on the down payment | $625 | The amount cash would earn yearly at 8.3% |
| Buying costs, spread out | $160 | 3.5% of the price over 7 years |
| True cost of owning | $3,324 | Cash paid out, minus equity, plus the two lines above |
The Durham verdict explained by the numbers
- Typical home valueZillow ZHVI, September 2026
- $384,724
- Typical rentZillow ZORI, September 2026
- $1,626 /mo
- Down payment20% avoids private mortgage insurance, which the engine does not model
- 20%
- Mortgage rateFreddie Mac Primary Mortgage Market Survey (FRED MORTGAGE30US)
- 7.24%
- Home price growthFHFA house price index, North Carolina, 1995 to 2025
- 4.4% a year
- Rent growthCPI rent of primary residence, yearly growth 2006 to 2026
- 3.5% a year
- Return on savings60% S&P 500 with dividends and 40% 10-year Treasuries, rebalanced yearly, 1928 to 2025
- 8.3% a year
- Property taxCensus ACS 2020-2024, Durham
- 0.83% of value
- Home insuranceCensus ACS 2020-2024, Durham
- $103 /mo
- MaintenanceFannie Mae, low end of 1% to 4%
- 1% of value a year
- Buying costsFreddie Mac, middle of 2% to 5%
- 3.5% of price
- Selling costsAgent commission plus closing costs
- 6% of price
What would change the Durham result?
Each line shows where Durham's 7-year verdict changes. Everything else stays the same.
When renting comes out ahead
- For this result, annual home price growth stays under 5.6%. The calculation uses 4.4%, the long-term rate for North Carolina's market.
- A mortgage rate above 5.39% remains in place.
- Rent for a home like this costs less than $2,050 a month. The typical rent here is $1,626.
- You move before reaching year 16.
Buying comes out ahead when
- Home prices rise at more than 5.6% a year.
- Lock in a mortgage rate below 5.39% to meet this condition; today's rate is 7.24%.
- For the same home, your rent would cost more than $2,050 a month.
- You remain for 16 years or longer.
The other 812 cities compared with Durham
| Measure | Durham | Median city |
|---|---|---|
| Typical home value | $384,724 | $422,451 |
| Typical rent | $1,626 /mo | $1,837 /mo |
| Price-to-rent ratio | 19.7 (#347 of 813) | 18.5 |
| Home prices, last 10 years | 6.7% a year | 6.2% a year |
| Rents, last 5 years | 3% a year | 4% a year |
| Property tax | 0.83% | 0.87% |
| Households that rent | 48% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
Other North Carolina cities
- For Charlotte, NC, rent wins by $30k.
- For Raleigh, NC, rent wins by $61k.
- Too close to call. For Greensboro, NC, rent leads by $3k.
- For Winston-Salem, NC, buying wins by $6k.
- For Fayetteville, NC, buying wins by $9k.
- For Cary, NC, rent wins by $131k.
- For Wilmington, NC, rent wins by $47k.
- For High Point, NC, buying wins by $4k.
- For Concord, NC, rent wins by $20k.
- For Greenville, NC, buying wins by $13k.
- For Asheville, NC, rent wins by $53k.
- Too close to call. For Gastonia, NC, rent leads by $576.