Durham County Real Estate and Livability Trends
Durham County, North Carolina has witnessed a sharp rise in median home values, jumping from $183,800 in 2015 to $311,300 in 2022. This surge may hint at a booming market, outpacing trends in both North Carolina and nationwide, attracting significant interest from real estate investors and homebuyers. Meanwhile, declines in farm returns suggest a shift away from agricultural land use, potentially... Read more
Durham County Market Trends
Durham County's median home values soared from $183,800 in 2015 to $311,300 in 2022, outpacing both North Carolina and national averages, hinting at a hot market for real estate investors and homebuyers. Residential energy tax credits per tax return hit a peak of $2,877.33 in 2018, indicating significant investments in energy-efficient home improvements. Real estate taxes have also climbed, from... Read more
Median Value of Occupied Housing Units in Durham County, North Carolina Over the Last 8 Years
Over the past eight years, Durham County has seen its median home values increase from $183,800 in 2015 to $311,300 in 2022, a substantial rise compared to North Carolina's overall surge from $154,900 to $234,900 in the same period. On a national level, the median home values have grown from $125,500 to $179,400. These trends suggest Durham County is experiencing more accelerated growth in housing values compared to both state and national averages, making it a potentially attractive market for real estate investors, prospective homebuyers, and developers.
Residential Energy Tax Credit Per Tax Return in Durham County, NC Over the Last 9 Years
Durham County, North Carolina, has experienced notable fluctuations in residential energy tax credits per tax return over the past nine years, with values peaking at $2,877.33 in 2018. The trend suggests increasing investment in energy-efficient home improvements, likely driven by both rising energy costs and available tax incentives. Such changes are particularly relevant for real estate investors, insurance agents, and homeowners, indicating a potential increase in property values and a need for better insurance coverage for upgraded homes.
Average Real Estate Taxes Per Tax Return in Durham County, NC Over the Last 10 Years
In Durham County, North Carolina, average real estate taxes per tax return have trended upwards over the past decade, starting at $3,122.68 in 2012 and reaching $4,712.48 by 2021. This notable increase, particularly the jump from $3,731.73 in 2017 to $4,389.36 in 2018, may suggest a growing demand or rising property values in the area, impacting appraisers and property developers alike. For real estate agents and investors, this trend could indicate a strengthening market, while residents and insurance agents might need to adjust their financial strategies accordingly.
Percentage of Farm Returns in Durham County, NC Over the Last 10 Years
The percentage of farm returns in Durham County, North Carolina has shown a gradual decline over the past decade, dropping from roughly 0.24% in 2012 to around 0.18% by 2021. Farm tax returns primarily reflect the financial activities related to agricultural enterprises, providing data that can indicate the health and prevalence of farming in the area. For investors, developers, or those considering relocation, this downward trend might suggest evolving dynamics in the local economy, possibly pointing towards a shift away from agricultural-based activities. Those interested in agricultural opportunities may find less competition but possibly fewer resources, while others might see potential in leveraging the decreasing agricultural land for alternative uses.
Number of Mortgages by Occupancy Type in Durham County, NC Over the Last 5 Years in Durham County
Durham County, North Carolina, has seen notable shifts in mortgage counts across different occupancy types over the past five years. Mortgages for principal residences vastly outnumber investment properties and second residences, though there was a notable peak for primary homes in 2021 at 25,871. Investment properties showed incremental growth until a dip in 2022, and second residence mortgages remained relatively stable with a slight downturn in 2022. These changes might signal evolving market dynamics and could impact investment decisions, property valuations, and real estate strategies. Investors and appraisers might find the trends useful for predicting future market conditions, while developers and insurance agents may need to adjust their risk assessments accordingly.
Economic Outlook
Durham County, North Carolina has experienced a notable rise in average taxable income, hitting $88,138.45 in 2021, up from $57,514.55 in 2013. This could attract investors and developers eyeing a booming local economy. Meanwhile, state and local income taxes have spiked, reaching $10,544.50 in 2021, which might reflect economic growth or tax policy shifts. Additionally, the average total tax liability climbed to $15,437.44 in 2021, suggesting increasing incomes or property values. The... Read more
Average Taxable Income per Tax Return in Durham County, NC over the last 9 years
Durham County, North Carolina has seen a consistent rise in average taxable income per tax return over the past nine years, escalating from $57,514.55 in 2013 to $88,138.45 in 2021. This suggests growing affluence, potentially attractive for investors, real estate agents, and builders. The upward trend in income hints at a robust local economy and might influence appraisal values and insurance premiums. For new residents and businesses, this signals a thriving community with increasing disposable income.
Average State and Local Income Taxes Per Tax Return in Durham County, NC Over the Last 10 Years
Over the last decade, Durham County, North Carolina has seen a steady increase in average state and local income taxes per tax return. Starting at approximately $6,828.80 in 2012, the amounts generally hovered around the $6,500 to $7,000 range until a notable rise began in 2018, peaking significantly at $10,544.50 in 2021. For those investing, moving, appraising, insuring, building, dealing in real estate, or simply interested in the area, this upward trend might indicate economic growth, shifts in income levels, or changes in tax policy impacting overall financial planning and property considerations.
Average Total Tax Liability Per Tax Return in Durham County, NC Over the Last 10 Years
Over the past decade, Durham County, North Carolina has seen a consistent upward trend in average total tax liability per tax return, rising from approximately $10,019.55 in 2012 to around $15,437.44 in 2021. This gradual yet marked increase suggests a potential rise in incomes or property values in the area, which may spark interest for investors and real estate agents eyeing high-growth markets. For insurance agents and appraisers, the trend underscores the need to account for higher valuation and potential premium adjustments. Those looking to move or build property in Durham County might want to consider the evolving tax landscape as part of their financial planning.
Cost of Living in Durham County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,697 | $1,605 | $1,899 | $1,781 | $1,807 |
| 1 adult 4 children | $1,697 | $1,310 | $1,452 | $1,781 | $1,914 |
| 2 adults 3 children | $1,697 | $1,311 | $1,648 | $1,781 | $1,531 |
| 1 adult 3 children | $1,697 | $1,070 | $1,201 | $1,781 | $1,634 |
| 2 adults 2 children | $1,337 | $1,073 | $1,397 | $1,570 | $1,188 |
| 1 adult 2 children | $1,337 | $802 | $950 | $1,570 | $1,233 |
| 2 adults 1 child | $1,337 | $848 | $1,146 | $887 | $1,036 |
| 1 adult 1 child | $1,337 | $548 | $698 | $887 | $920 |
| 2 adults | $1,153 | $681 | $894 | $0 | $798 |
| 1 adult | $1,147 | $372 | $447 | $0 | $707 |
Safety trends & Data
Durham County, North Carolina, has reportedly seen a decrease in property crime over the past five years. Larceny-theft incidents peaked at 1,038.00 in 2019 but dropped to 664.00 by 2022. Burglary cases have also declined from 225.00 in 2018 to 151.00 in 2022, and vandalism fell from 103.00 to 64.00 over the same period. Fraud cases notably decreased from 138.00 in 2018 to 48.00 in 2022, pointing towards potential improvements in fraud prevention. These trends might offer valuable insights for... Read more
Property Crime Trends in Durham County, NC Over the Last 5 Years
Durham County, North Carolina, shows some interesting trends in property crimes over the past five years. Larceny-theft remains the biggest issue, with numbers peaking at 1,038.00 incidents in 2019 but significantly dropping to 664.00 in 2022. Burglary cases have generally decreased from 225.00 in 2018 to 151.00 by 2022, while vandalism levels seem to have gradually diminished from 103.00 in 2018 to 64.00 in 2022. Fraud saw a notable reduction from 138.00 cases in 2018 to just 48.00 in 2022, indicating potential improvements in fraud prevention. For those considering investing, moving, or building properties, these crime trends could offer valuable insights into the evolving safety landscape of Durham County.
Demographics
Durham County, North Carolina showcases a modest gender imbalance with slightly more females than males. The population is relatively young, with a significant cohort in the 25 to 34 age range. Educational attainment skews towards higher education achievements, with a noteworthy concentration of individuals holding bachelor's and graduate degrees potentially indicating a well-educated workforce. Racial composition is diverse, predominated by White and Black or African American groups, followed... Read more
Race Distribution in Durham County, North Carolina (2022)
Educational Attainment in Durham County, North Carolina (2022)
Age Distribution in Durham County, North Carolina
Citizen Population in Durham County, North Carolina (2022)
Political Trends & Data
Durham County in North Carolina demonstrated a marked preference for the Democratic party in the 2020 U.S. Presidential Election, with Democrats potentially securing over 80% of the vote. Republicans might have received around 18%, while third parties, including the Libertarians and Greens, collectively captured a much smaller portion of the vote. This voting pattern could indicate strong Democratic inclinations, setting Durham County apart from nearby areas with differing political... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Durham County in North Carolina appears to have shown a notable preference for the Democratic party during the 2020 U.S. Presidential Election, with Democrats potentially capturing more than 80% of the vote. Republicans might have garnered roughly 18%, while third parties such as the Libertarians and Greens, as well as other candidates, collectively made up a minor fraction of the vote. This voter distribution could suggest strong Democratic leanings within the county, distinguishing it from neighboring areas that may exhibit different political dynamics.
18.04% of voters voted for the Republican party in the 2020 Presidential Election
80.42% of voters voted for the Democrat party in the 2020 Presidential Election
0.84% of voters voted for the Livertarian party in the 2020 Presidential Election
0.29% of voters voted for the Green party in the 2020 Presidential Election
0.41% of voters voted for the Other party in the 2020 Presidential Election
School Data
Durham County, North Carolina's student-teacher ratio has decreased from a high of 15.77 in 2016 to 13.78 in 2023, lower than the national average of 14 students per teacher. This trend towards more manageable classroom sizes could signal improving educational conditions. For investors, real estate agents, and families, such trends are promising as smaller class sizes often mean better educational outcomes, potentially making Durham County a more appealing choice for those seeking quality... Read more
Student-to-teacher ratio in Durham County, North Carolina over the last 10 years
Durham County, North Carolina has seen fluctuations in its student-to-teacher ratio over the past decade, peaking at 15.77 in 2016 before trending downward to 13.78 in 2023. This recent decrease suggests that classroom sizes are becoming more manageable compared to the national average of 14 students per teacher. For investors, real estate agents, and families considering a move, these trends could be indicative of improving educational conditions, potentially boosting the county's appeal. Smaller class sizes generally imply more individual attention for students, which could enhance educational outcomes and make the area more attractive for those prioritizing quality education.
