The typical owner-occupied home in Durham is worth about $401,700, 9% above the Connecticut median of $366,900 and 21% above the national median of $332,700. Owners pay a median $7,107 a year in property taxes, about 1.77% of their home's value, close to the Connecticut rate of 1.81%. The median household earns $152,396 a year, so the median home costs 2.6 times the median income (3.8 times for Connecticut). 90% of occupied homes here are lived in by their owners, and 59% of those owners still have a mortgage.
Durham at a glance
| Durham | Connecticut | U.S. | |
|---|---|---|---|
| Median home value | $401,700 | $366,900 | $332,700 |
| Median property tax paid per year | $7,107 | $6,643 | $3,119 |
| Property tax as a share of value | 1.77% | 1.81% | 0.94% |
| Median household income | $152,396 | $95,781 | $80,734 |
| Homes lived in by their owners | 90% | 66% | 65% |
| Owner homes with a mortgage | 59% | 65% | 61% |
| Median monthly costs, owners with a mortgage | $2,797 | $2,429 | $1,963 |
| Those costs as a share of the owners' income | 21.2% | 21.8% | 21.0% |
| Median rent | $1,625 | $1,488 | $1,413 |
| Rent as a share of renters' income | 36.3% | 31.4% | 30.6% |
| Median year homes were built | 1975 | 1967 | 1980 |
| Vacant homes | 0.0% | 7.0% | 10.1% |
| Population | 3,347 | 3,624,508 | 334,922,499 |
What a typical home costs per month in Durham
At this week's average 30-year rate of 7.11%, buying the median Durham home of $401,700 with 20% down costs about $2,922 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,591, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $125,215 for the 20%-down payment. That payment is 23% of the median Durham household income of $152,396; at that income and 20% down, the 28% guideline points to a home of about $489,000.
The median rent here is $1,625 a month, so owning the median home costs about $1,297 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $80,340 |
|---|---|
| Loan amount | $321,360 |
| Principal and interest | $2,162 |
| Property taxes (1.77% a year) | $593 |
| Homeowners insurance (our estimate, 0.5% a year) | $167 |
| PMI | $0 |
| Total per month | $2,922 |
Change the numbers in the calculator
| Down payment | $14,060 |
|---|---|
| Loan amount | $394,424 |
| Principal and interest | $2,653 |
| Property taxes (1.77% a year) | $593 |
| Homeowners insurance (our estimate, 0.5% a year) | $167 |
| FHA mortgage insurance | $178 |
| Total per month | $3,591 |
Change the numbers in the calculator
Questions about home buying in Durham
What is the median home value in Durham?
About $401,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Durham?
Homeowners pay a median $7,107 a year, which is about 1.77% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Durham?
For the median home with 20% down at 7.11%, the payment is about $2,922 a month. Keeping that under 28% of gross income takes about $125,215 a year.
More about Durham
- Mortgage Refinance in Durham
- Debt Relief in Durham
- Home Equity Loans in Durham
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data