Quick answer
The median home in Durham costs $425K. With 20% down ($85K) at 7% for 30 years, the monthly payment is $2,262/month. Total interest paid over 30 years: $474,330.
Calculator · NC · 2026
Mortgage Calculator for Durham, NC (2026)
Pre-filled with Durham's median home price of $425K. Compare payments across down payment sizes and loan terms at the current 7.0% baseline rate.
Last updated: April 23, 2026
Durham Mortgage Payment Scenarios
Median home price: $425K · Interest rate: 7% · Excludes property taxes and insurance.
| Down Payment | Down ($) | Loan Amount | 30-yr/mo | 15-yr/mo | Total Interest (30yr) |
|---|---|---|---|---|---|
| 5% | $21,250 | $403,750 | $2,686 | $3,629 | $563,267 |
| 10% | $42,500 | $382,500 | $2,545 | $3,438 | $533,622 |
| 20% | $85,000 | $340,000 | $2,262 | $3,056 | $474,330 |
PMI required for <20% down — add ~$100–300/month to payments above.
Rent vs Buy in Durham
Monthly cost comparison based on median prices — 20% down, 30-year mortgage at 7%.
Buying (median home)
+ builds equity in $425K asset
Renting (2-bedroom)
Flexibility to move; no equity built
Amortization Over Time
$425K home · 20% down ($340K loan) · 7% · 30 years
Year 1
Year 15
Year 30 (Final)
Frequently Asked Questions
What is the monthly mortgage payment for a home in Durham?
The median home price in Durham is $425K. With 20% down and a 30-year loan at 7%, the monthly payment is $2,262. Adding estimated property taxes and insurance brings total monthly costs to approximately $2,687.
Is it cheaper to rent or buy in Durham?
A 2-bedroom rental in Durham averages $1,650/month. Buying the median $425K home with 20% down costs approximately $2,687/month (mortgage + taxes + insurance) — $1,037 more than renting. However, buying builds equity while renting does not.
How much do I need to earn to buy a home in Durham?
Using the 28% housing rule, you need at least $97K–115K in annual gross income to comfortably afford the median $425K home in Durham with 20% down. You also need $85K+ saved for the down payment plus 2–5% in closing costs.
What are property taxes like in Durham?
NC has a state income tax rate of 4.75%. Property taxes vary by county but on a $425K home, expect $354–$708/month in property taxes (1–2% annual rate). This is in addition to your mortgage payment.