Homes for Rent in Durham, NC: What You Need to Know
Durham is home to Duke University, one of America’s most prestigious private universities and a juggernaut in NCAA men’s basketball. The city is located in the north-central part of North Carolina.
Schools and Higher Education
Duke University (16,606 students) traces its roots to Trinity College, which moved from Randolph County to Durham in 1892. The college became Duke University in 1924. The university boasts of two Nobel Prize-winning faculty members and nine others who either studied or taught at Duke. There are 30 other universities within 50 miles of the city. Durham County has 69 public schools serving 44,259 students. Mangum Elementary School and Pearsontown Elementary School are among the city’s highly ranked schools.
Durham’s Research Triangle Park is one of America’s most important high-tech research and development centers. There are over 170 research companies in the 7,000-acre complex. The Treyburn Corporate Park, a 5,300-acre complex, is also attracting biopharmaceutical and manufacturing companies to the area. Apart from technology, the health care industry drives Durham’s economy. The city has more than 300 health-related companies generating a combined payroll of over $1.2 billion annually.
Cost of Living
Durham, Raleigh, and Chapel Hill form an area known as the Triangle. As part of an economically booming region, it’s no surprise that Durham’s cost of living rate and food costs are 4.3% and 14.8% higher than the national average respectively. The good news: housing costs are 18.6% lower than the national average. Durham’s median gross rent is $1,005. North Carolina levies 5.25% in state income tax and 4.75% in base sales tax. Counties collect a separate sales tax ranging from 2% to 2.75%.
Know Your Neighborhoods
Durham (population: 321,488) is a lively college town with ample economic opportunities. A little over half of all residents within the city proper rent. Suburbs such as Cary and Morrisville are attracting a lot of newcomers for their superb public schools and proximity to both Durham and Raleigh. Cary is growing fast, thanks to new housing development projects. Morrisville is known for its scenic landscape and friendly people.
The Local Sports Scene
The city rallies around Duke University’s Blue Devils men’s basketball team, which has won the NCAA championship five times. The university has also won national championships in men's soccer, women's golf, women's tennis, and men's lacrosse. “Bull Durham,” the 1988 movie starring Kevin Costner, has immortalized the Durham Bulls, the city’s minor league baseball team. It’s the Triple-A affiliate of the Tampa Bay Rays.