What Is The Cost Of Living In Durham, North Carolina?

Durham is the fifth largest city in North Carolina, with a population of around 280,000 people. This is a college town, and Duke University is the center of much activity. You’ll also find North Carolina Central University and Durham Technical Community College in Durham as well.

Durham has a score of 95.2 on the cost of living index, about five points lower than the US average of 100. The median value of a Durham home is around $230,000, with rent around $1,300 per month. Both home prices and rent are slightly lower than the US average.

If you’re thinking about moving to Durham, consider the costs for taxes, utilities, groceries, transportation, and activities below. By looking at these factors, you can determine if moving to Durham, North Carolina, is fiscally and personally beneficial.

Durham housing prices are significantly higher than those in the rest of North Carolina. The average cost of a home in North Carolina is around $174,000, roughly $50,00 less than in Durham. However, the US’s average cost is approximately $300,000, making Durham cheaper than the national average.

Annually for the last 20 years, real estate in Durham has appreciated around 3.05%. Since 2000, Durham’s real estate value has increased by almost 90%. This is relatively on par with the national average appreciation rate.

The average cost of utilities in Durham is on par with the US but is much more expensive than North Carolina. On the cost of living index, Durham is 100.1, North Carolina is 81, and the US is 100. The utility rating on the cost of living index includes electricity, natural gas, and other fuels.

The average electric bill in North Carolina ranks 14th nationally at $117. The average water bill in Durham is around $28/month. As always, Wifi costs will vary between providers but will likely cost about $60/month.

The average cost of all utilities in the average Durham apartment is $122. The price will vary depending on square footage and utility usage. With added Wifi costs, you’ll pay somewhere around $180/month in the average apartment.

To keep your utility bills low, work to conserve energy in your home. Turn off lights when not using them and lessen water usage.

The cost of groceries in Durham is only slightly lower than the national average but higher than North Carolina’s average. According to the cost of living index, Durham is 99.2, North Carolina is 96.5, and the U.S. is 100.

Many budgets suggest spending about 11% of your annual income on food, 6% of that being groceries. You can allocate the remaining 5% to dining out. Durham’s median income is around $49,500, making your ideal food budget roughly $5,400/year.

Compare the cost of groceries in Durham to other major US cities in the table below. Groceries in Durham are expensive compared to the rest of North Carolina. However, they are relatively cheaper than other major US cities.

Compared with the rest of North Carolina, Durham’s transportation costs are only slightly higher. However, in comparison to the US average, Durham has much cheaper transportation. According to the cost of living index, Durham is 84.1, North Carolina is 83.9, and the U.S. is 100.

76.7% of individuals who commute to work in Durham drive by themselves. Around 5% of commuters use public transportation to commute to work.

Although most individuals drive to work in Durham, there are a few public transportation options. There is a bus system known as GoDurham and a carpool system known as Vanpool. Vans can be used on a month-to-month basis and hold 4-15 individuals.

Although you can bike or walk in Durham, bike lanes are few and far between.

Although public transit is an option, the majority of individuals in Durham drive to work. The national average price of a gallon of gas is $2.38, and Durham’s is about the same price at $2.35. You’ll save around .03 cents per gallon on gas in Durham.

Durham’s average commute time is 21.1 minutes, four minutes less than the average worker’s commute. Only 1% of workers in Durham have a super commute of 90 or more minutes. This results from workers living far outside the metropolitan area, not because of traffic.

Durham’s average annual car insurance cost is lower than both the state and national averages at $776. The national average is $1,424, and North Carolina’s is around $841. Although this is the average in Durham, your insurance will vary depending on make and model, age, neighborhood, and company. State Farm, Nationwide, and Erie offer the cheapest insurance in Durham.

You can find the average car insurance costs in Durham in the table below. Teenagers and young adults have the priciest annual insurance costs. Individuals in their 50s and 60s will pay the lowest annual rates, though most will pay less than $1,000.

There are many things to enjoy in Durham without breaking the bank. You can get active on the American Tobacco Trail, Duke Forest, or the various city parks. You can also take a tour of Duke University and stop by its beautiful Chapel.

Two tickets to the movie theater will cost you around $24. A domestic beer will cost you $4.50 and an imported one $7 at a local bar. A local gym membership will cost you around $31 per month. A local tennis court will only cost you $10 to rent for an hour.

A vacation to Durham for one will cost about $500 for a week, not including flight. A hotel will likely cost you around $115 a night in Durham. Between food and sightseeing, you’ll probably spend between $24 and $40 a day.

Durham is a slightly less expensive place to live than the national average. Rent is comparable to other places in the US, though homes are a good bit cheaper. Even with lower rent, Durham homes have appreciated well over the years.

Durham is a city that offers low-priced activities, housing costs, and groceries compared to the national average. It is a great city for college students and young professionals. However, be sure to weigh the costs and benefits of Durham before making any significant moves.