How Affordable Are Apartments in Durham?

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Durham is an incredible city that’s been quickly gaining popularity over the last twenty years. So whether you know the city because of Duke University’s basketball team, or you’re interested in the area for its weather and distance to beaches and mountains: you’ve picked the right place to live.

Before renting an apartment in Durham, these are things you should know and why this city could be the perfect match for you!

Compared to the National Average

Durham is higher than the national average for housing. A lot of this is due to the expensive homes and not the apartments. The average two-bedroom apartment in Durham will set you back around $1,250, while the national average for a two-bedroom is closer to $1,400. This means that as long as you’re renting, you’ll be living cheaper.

Once you look to buy a home, you may pay as much as ten percent more than the national average, but it all depends on where in the city you buy and what condition the home is in.  

What Do You Get With This?

With the average apartments in Durham, NC, you can expect a few perks. Most apartments allow for cats and dogs, have balcony space, and offer on-site laundry.  Unfortunately, it’s hit or miss whether you’ll have laundry within your apartment. Luckily, most also provide a dishwasher to save you a little trouble!

The more amenities you get, the more you’ll have to pay, but many affordable locations offer things like pools, hardwood floors, and gorgeous views without breaking the bank.

How Competitive Is The Market?

The market in Durham wanes and waxes at different times of the year, depending entirely on the school year. The worst time to try to find an apartment is between July to September, since many students are coming to the area and trying to make it on their own.  Although this time also offers many discounts, if you want to avoid struggling to grab a place, this may not be the best time to move into the city.  

In the winter, you can find low rates, less competition, and more driven landlords who want to try and get someone into an apartment as soon as possible.  

What’s Good About Durham?

Durham is a fantastic city that’s directly in the middle between the beaches and the mountains. Fortunately for those who move here, you can find a space for yourself regardless of whatever you’re looking for.

Three hours to the east will leave you on white-sand beaches, getting to enjoy luxury and the simple pleasures of sunshine and easy tides. The Outerbanks is full of beachy tourist-trap fun that can leave visitors feeling like kids again.

To the west, you can find beautiful mountains and little gems like Boone, North Carolina, which has a grip on the hearts of those who like to travel in Durham. This little mountain town has everything from mystery houses to panning for gold and white water rafting.

Durham is an incredible city that’s worth renting from if you have the time and money for it! Although buying a home here is expensive, getting your own space is feasible if you rent!

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