CALCMONEY // HOME AFFORDABILITY // NC // DURHAM
How much house can you afford in Durham? Based on local median home prices, current NC mortgage rates, and Durham property tax data.
$380,000
$2,430/mo
$104,128/yr
$220,006
Monthly housing costs of $2,430 represent 42.9% of Durham's median gross monthly income ($5,667/mo). At 42.9%, median-income buyers in Durham are significantly stretched — well above the 28% guideline. A larger down payment or higher income is required.
| Median Home Price | $380,000 |
| Down Payment (20%) | $76,000 |
| Loan Amount | $304,000 |
| Monthly PI Payment | $2,002 |
| Monthly Property Tax | $269 |
| Monthly Insurance Est. | $158 |
| Total Monthly PITI | $2,430 |
| Housing Cost % of Income | 42.9% |
| Required Income (28% rule) | $104,128/yr |
| Max Affordable Home | $220,006 |
$13,300
$3,102/mo
Durham Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $380,000 | Durham city median |
| Down Payment (20%) | $76,000 | Conventional loan |
| Monthly PITI | $2,430 | 6.9% rate, 30yr fixed |
| Required Income (28% rule) | $104,128 | Annual gross |
| Max Affordable Home | $220,006 | Based on median income |
| FHA Down (3.5%) | $13,300 | Minimum FHA |
| Housing Cost % of Income | 42.9% | Median income: $68,000/yr |
| Property Tax Rate | 0.85% | $3,230/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Durham is $380,000, with a local 30-year mortgage rate of 6.9%. A buyer putting 20% down carries a loan of $304,000, generating a monthly P&I payment of $2,002. Adding property taxes ($269/mo) and homeowners insurance ($158/mo) brings total monthly PITI to $2,430.
Durham's property tax rate of 0.85% is near the national average, adding a standard increment to monthly housing costs. On the Durham median home, that is $269/month, or $3,230 per year.
North Carolina levies a state income tax, which affects take-home pay and effective buying power. High-income earners in Durham should factor state tax liability into their overall housing budget — mortgage interest may be deductible on both federal and state returns.
Using the 28% rule, a household earning Durham's median income of $68,000/year can afford up to $1,587/month in total housing costs. Based on Durham's mortgage rate of 6.9% and property tax rate of 0.85%, that translates to a maximum affordable home price of approximately $220,006 with 20% down on a 30-year loan.
To afford the median Durham home priced at $380,000, you need an annual gross income of approximately $104,128. Total monthly housing costs (principal and interest of $2,002, property taxes of $269, and insurance of $158) come to $2,430/month, which equals 28% of the required income.
At the median home price of $380,000 and median household income of $68,000, the total monthly housing cost of $2,430 represents 42.9% of gross monthly income. This is well above the standard 28% threshold, making Durham a challenging market for buyers at median income.
A conventional 20% down payment on the median Durham home of $380,000 is $76,000. An FHA loan requires just 3.5% down — $13,300 — but adds mortgage insurance of roughly $260/month, bringing total FHA payments to $3,102/month.
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