5 Interesting Facts About Housing in Durham NC
Durham, North Carolina, is called the "Bull City." It is a vibrant city with much growth and development in recent years! It offers significant economic opportunities and a beautiful city for everyone.
It's best to know some facts about housing in Durham if you're considering moving. With thousands of options available, you have a lot to consider.
Knowing the facts about housing in Durham, NC, will help you make an excellent choice and find a great home. In this brief guide, you will learn five interesting facts about housing in Durham that you might not know.
1. Affordable Housing
Despite being a growing city with many amenities, Durham real estate remains affordable. According to data from Zillow, the median home value in Durham is around $245,000, well below the national median of $269,000.
Compared to other cities in the United States, it is more affordable and one of the best places to live in NC. That makes Durham a popular destination for people looking for affordable housing in a desirable location.
2. Many New Construction
As Durham continues to grow, much new construction is happening in the city. That includes everything from large apartment complexes to single-family homes.
One particularly noteworthy project is the Durham Innovation District. It will bring new office space, apartments, and retail to downtown!
This project will help a lot of people living in Durham! It will be a great help to meet the demand for housing in the city.
3. Renovated and Restored Historic Homes
Durham has a rich history. Many historic homes have been lovingly restored and preserved over the years!
If you plan on moving to Durham, there are many exciting things to do! Historic homes have been brought back to their former glory! Many homes boast original architecture and styles, such as cottage, Gothic, and Greek Revival.
Some of these homes date back to late 1800s and early 1900s. They feature unique architectural details and craftsmanship you won't find in newer homes.
4. Home Appreciation
Durham, NC, is an area that is seeing a lot of home appreciation. Durham's home appreciation rate leads most other cities in the United States and outpaces the national average.
That makes Durham a popular destination for investors and first-time home buyers. Real estate in the area is on the rise and will continue to do so soon.
5. String Market for Rental Properties
With the city's growing population and the presence of several universities, there's a substantial market for rental properties. That includes everything from large apartment complexes to single-family homes and duplexes. The average rent in Durham is affordable compared to other cities in the region.
The market is desirable for those looking for rental properties. Durham is the second-most affordable city in North Carolina!
For example, you can find your next home through Kelby Farms, which offers various housing types! There are amenities available too!
There's always an attractive option for those looking to rent. Additionally, Durham is building an increasing number of new developments. There are more housing options for the Durham community.
A Better Understanding of Housing in Durham, NC
In conclusion, housing in Durham, NC, is dynamic and diverse. It offers something for everyone! You'll find it whether you're looking for an affordable starter home, a historic gem, or a tiny house!
With its strong rental market and ongoing construction projects, it's clear that Durham will continue to be a popular destination. Are you still looking for a great place to call home?
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