Why This is Important
Significant increases in rents can reflect neighborhood housing market pressures that adversely affect low income renting households. In Durham County, renting has gotten more expensive across the board, with median gross rents climbing from $797 in 2010 to $925 in 2016. Rises in rent are driven by a number of factors, some of which are: tax revaluation, property renovation, replacement of older rental units with newly-built market rate units, and opportunity for increased income in "hot" real estate markets.
According to rental listings in the first quarter of 2018, monthly rents per bedroom were highest in these Durham neighborhoods: Old West Durham ($1,155), Watts-Hillandale ($1,139), Southside ($1,125), Downtown ($987), and Morehead Hill ($982).
About the Data
The median gross rent is at the midpoint of all rent costs for each neighborhood. Half of the rental units in this Census tract cost more and half cost less. Gross rent includes the contract rent plus estimated monthly costs of utilities and heating fuels if these are paid for by the renter (ACS).
Source: American Community Survey (ACS).