Durham North Carolina Residential Rent and Rental Statistics
The median monthly gross residential rent in Durham, NC (the Durham-Chapel Hill metro area) was $1,065 in 2019 according to the Census ACS survey.1 Average gross rent in Durham was $1,050 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Durham median and average rent data will be released in September of 2021.
Data is also available below for Durham rental vacancy rates, Durham rent as a percent of median income and the fraction of renters in Durham.
Real Gross Rent in Durham North Carolina (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| North Carolina Median Gross Rent | $931 | +1.64% | +5.92% |
| Durham, NC Median Gross Rent | $1,065 | -0.09% | +7.36% |
Durham, NC Real Gross Rent Trends
Median gross rent for Durham peaked in real terms in 2018 at $1,066 and is now $1 (0.09%) lower. Average gross rent for Durham peaked in real terms in 2018 at $1,068 and is now $18 (1.69%) lower.
Real Gross Rent in Durham: Durham NC Median, Durham NC Average, North Carolina Median, US Median
Real Gross Rent History for Durham
| Date | US Median |
North Carolina Median |
Durham, NC Median |
Durham, NC Average |
|---|---|---|---|---|
| 2019 | $1,097 | $931 | $1,065 | $1,050 |
| 2018 | $1,077 | $916 | $1,066 | $1,068 |
| 2017 | $1,043 | $888 | $1,029 | $1,041 |
| 2016 | $1,027 | $879 | $992 | $1,009 |
| 2015 | $1,017 | $877 | $971 | $990 |
| 2014 | $986 | $848 | $959 | $969 |
| 2013 | $953 | $819 | $916 | $933 |
| 2012 | $940 | $804 | $881 | $917 |
| 2011 | $941 | $805 | $868 | $880 |
| 2010 | $955 | $817 | $879 | $929 |
| 2009 | $960 | $821 | $874 | $897 |
| 2007 | $927 | $797 | $874 | $858 |
| 2005 | $910 | $794 | $888 | $870 |
Durham Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Durham North Carolina was 4.68% according to Census ACS data.
Rental Vacancy Rate in Durham North Carolina
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| North Carolina | 6.60% | -0.43% | -0.39% |
| Durham, NC | 4.68% | -1.34% | -2.24% |
Trends in Durham, NC Rental Vacancy Rate
The rental vacancy rate in Durham peaked in 2007 at 11.02%. Since then it has fallen by 6.34% to 4.68%. Data records for this series originated in 2005. From a 2014 post peak low of 4.36%, the rental vacancy rate has increased by 0.32%.
Rental Vacancy Rate: Durham NC, North Carolina, US
Historical Rental Vacancy Rate data for Durham
| Date | US | North Carolina | Durham, NC |
|---|---|---|---|
| 2019 | 5.97% | 6.60% | 4.68% |
| 2018 | 6.15% | 7.03% | 6.02% |
| 2017 | 6.18% | 6.77% | 5.93% |
| 2016 | 5.89% | 6.99% | 6.92% |
| 2015 | 5.85% | 7.02% | 6.41% |
| 2014 | 6.32% | 7.29% | 4.36% |
| 2013 | 6.49% | 7.46% | 4.81% |
| 2012 | 6.77% | 8.00% | 6.57% |
| 2011 | 7.40% | 9.31% | 8.29% |
| 2010 | 8.17% | 9.97% | 8.11% |
| 2009 | 8.43% | 10.10% | 8.24% |
| 2007 | 7.87% | 9.26% | 11.02% |
| 2005 | 7.74% | 9.99% | 10.28% |
Rent as a Fraction of Income
Using median household income data for Durham, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Durham, median monthly gross rent as a fraction of median household income was 19.57% in 2019 according to the ACS.
Durham North Carolina Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| North Carolina | 19.48% | -0.57% | -0.42% |
| Durham, NC | 19.57% | -0.66% | -0.66% |
Trends in Durham, NC Rent as a Fraction of Income
The fraction of median Durham household income required to pay median monthly gross rent peaked in 2014 (relative to the 2005 series origin) at 20.96%. Since then it has fallen by 1.39% to 19.57%.
Fraction of Income towards Rent: Durham NC, North Carolina, US
Historical Data for Annual Rent as a Fraction of Income in Durham North Carolina
| Date | US | North Carolina | Durham, NC |
|---|---|---|---|
| 2019 | 20.03% | 19.48% | 19.57% |
| 2018 | 20.50% | 20.05% | 20.23% |
| 2017 | 20.13% | 19.59% | 19.55% |
| 2016 | 20.43% | 19.90% | 20.23% |
| 2015 | 20.63% | 20.75% | 20.27% |
| 2014 | 20.89% | 20.70% | 20.96% |
| 2013 | 20.78% | 20.34% | 19.52% |
| 2012 | 20.65% | 20.09% | 19.77% |
| 2011 | 20.70% | 20.36% | 19.82% |
| 2010 | 20.50% | 20.25% | 19.68% |
| 2009 | 20.12% | 19.78% | 18.44% |
| 2007 | 18.66% | 18.21% | 18.46% |
| 2005 | 18.89% | 18.71% | 19.21% |
Renter Fraction in Durham North Carolina
You can calculate the renter fraction in Durham in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Durham as a fraction of total Durham households. In 2019 38.57% of households were renters according to Census ACS data.
Durham Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| North Carolina | 34.69% | -0.17% | -1.09% |
| Durham, NC | 38.57% | +0.53% | -1.40% |
Trends in the Durham, NC Renter Fraction
The Durham household renter fraction peaked in in 2015 at 41.71% and is now 3.14% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Durham NC, North Carolina, US
History of Durham Renter Fraction
| Date | US | North Carolina | Durham, NC |
|---|---|---|---|
| 2019 | 35.89% | 34.69% | 38.57% |
| 2018 | 36.05% | 34.86% | 38.04% |
| 2017 | 36.13% | 34.60% | 40.96% |
| 2016 | 36.88% | 35.78% | 39.97% |
| 2015 | 36.97% | 36.13% | 41.71% |
| 2014 | 36.90% | 35.75% | 41.38% |
| 2013 | 36.50% | 35.74% | 40.78% |
| 2012 | 36.09% | 34.56% | 40.63% |
| 2011 | 35.42% | 33.49% | 39.68% |
| 2010 | 34.65% | 32.83% | 39.32% |
| 2009 | 34.13% | 32.81% | 37.55% |
| 2007 | 32.80% | 31.70% | 38.93% |
| 2005 | 33.10% | 31.81% | 38.84% |
1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩
2. Real dollars are calculated using the CPI-U less shelter series. ↩
3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩
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