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Durham:
December Rent Report

Welcome to the December 2024 Durham Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the December 2024 key findings and figures for the Durham rental landscape.

Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Durham and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Durham average rent prices in the chart below.

Monthly Rent Report

$1,850
$1,390
$930
$460
$0
Jan. 2024
Feb. 2024
Mar. 2024
Apr. 2024
May. 2024
Jun. 2024
Jul. 2024
Aug. 2024
Sep. 2024
Oct. 2024
Nov. 2024
Dec. 2024
1 BR       2 BR

Durham Rent Prices Decrease From November to December

Durham rent prices decreased over the last month. From November to December, the city experienced a -0.07% decrease for the price of a one-bedroom apartment. The rent price for a Durham one-bedroom apartments currently stands at $1,337.0.

When we take a look at the two-bedroom comparison from November to December, Durham experienced a -0.48% decrease for the price of a two-bedroom apartment. The rent price for a Durham two-bedroom apartments currently stands at $1,657.0.

December Prices: Durham vs. Surrounding Areas

Durham, NC
$1,338
$0
$450
$900
$1,350
$1,800
Median 1 BR Rent

Rent Prices in Durham and Surrounding Areas

Rent prices have decreased in Durham over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 0 of the Durham suburbs increased last month. On the other hand, 0 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

  • Rents did not increase in any of the Durham suburbs

  • Rents did not decrease in any of the Durham suburbs.

December 2024 Pricing Trends: Durham vs. National Comparisons

New York, NY
San Francisco, CA
Los Angeles, CA
Washington, DC
Chicago, IL
Durham, NC
Columbus, OH
Minneapolis, MN
Pittsburgh, PA
$4,134
$3,160
$2,389
$2,353
$1,914
$1,338
$1,318
$1,255
$1,234
$0
$1,350
$2,700
$4,050
$5,400
Median Rent

Durham Rent Prices More Affordable Than Major Cities

Rent growth in Durham over the past year has been declining. When compared to major cities nearby, along with some of the most expensive cities in the country, Durham average rent prices appear to be relatively affordable for local residents.

The price for a Durham one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.

For more information about Durham and surrounding area rent prices, take a look at the complete data set below.

Data set for Durham and suburbs

1 BR December 1 BR M/M % Change 2 BR December 2 BR M/M % Change
Durham, NC $1,338.0 0.75% $1,665.0 -1.71%

Methodology

Each month, using over 1 million Rentable listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.