Exploring Property Taxes, Real Estate Trends, and Family Life in Durham & Wake Counties, North Carolina (2025 Edition)
North Carolina has experienced a remarkable transformation over the last two decades. With its robust job market, top-tier universities, scenic landscapes, and balanced lifestyle, the Tar Heel State is now a major hub for families, investors, and professionals alike. Two of its most prominent counties, Durham and Wake, stand at the forefront of this change. In this blog post, we’ll break down recent property tax changes in these counties, examine the real estate trends that have shaped the area, and explore why families and investors continue to be drawn to this part of North Carolina.
Durham County is located in the north-central part of the state and is best known for being home to Duke University and Research Triangle Park (RTP), one of the largest high-tech research and development parks in the world. The City of Durham is the county seat and cultural heart of the area, blending a historic downtown with a vibrant modern art and culinary scene.
Wake County lies directly southeast of Durham and includes North Carolina’s capital city, Raleigh. It is the most populous county in the state, encompassing towns like Cary, Apex, Garner, Fuquay-Varina, and Wake Forest. The county is known for its excellent public schools, family-friendly neighborhoods, and thriving job market, especially in technology, education, and healthcare.
2025 Property Tax Breakdown
Property taxes in North Carolina are levied at both the county and municipal levels, and each city or town may have a different rate. Here is a breakdown of current property tax rates:
Durham County
- County Rate: $0.7987 per $100 of assessed value
- City of Durham: $0.5962 per $100 of assessed value
- Combined (City + County): $1.3949 per $100 of assessed value
Durham County has scheduled a county-wide property revaluation for 2025. This revaluation aims to bring property assessments in line with current market values, which may affect individual property tax bills.
Wake County
- County Rate: $0.5135 per $100 of assessed value
- Municipal Rates:
- Raleigh: $0.355
- Cary: $0.35
- Apex: $0.38
- Fuquay-Varina: $0.358
- Garner: $0.53
- Wake Forest: $0.52
- Holly Springs: $0.3933
Wake County recently completed a revaluation in 2024 and will move to a two-year cycle for future assessments, meaning the next revaluation is expected in 2027.
Durham County Residential Real Estate Trends
Durham’s real estate market has experienced rapid growth since the early 2010s. With the expansion of RTP and the national recognition of Duke University, demand for housing has surged. Median home prices have more than doubled in the last decade, driven by both local growth and out-of-state migration. In 2010, the median home price in Durham was around $170,000. In 2025, it sits at approximately $380,000.
Durham’s urban core has seen significant revitalization. Old tobacco warehouses have been transformed into lofts, breweries, and office spaces. Suburban areas like Southpoint, Hope Valley Farms, and Treyburn offer spacious homes and growing communities, appealing to young professionals and families.
Wake County Residential Real Estate Trends
Wake County’s real estate market has been even more explosive. Raleigh consistently ranks as one of the fastest-growing cities in the U.S. The median home price across Wake County in 2010 was around $200,000. In 2025, it has climbed to over $450,000. Towns like Cary, Apex, and Holly Springs have seen the most appreciation, largely due to excellent school districts, modern suburban planning, and easy access to the Triangle’s tech hubs.
Custom homes, master-planned communities, and mixed-use developments are prevalent in these towns. Many offer greenways, parks, and retail hubs designed to create a walkable, community-centric lifestyle.
Commercial Real Estate Trends
Commercial real estate in Durham and Wake Counties is equally robust, supported by a booming population, diversified economy, and regional investments in infrastructure. Office spaces, industrial parks, mixed-use developments, and retail centers are all seeing high demand.
Durham County Commercial Real Estate
The proximity to Research Triangle Park has made Durham a hotspot for biotech and life sciences companies. Class A office space continues to expand in downtown Durham and near the RTP corridor. New construction and redevelopment projects have brought modern office campuses, coworking hubs, and commercial retail to the forefront.
Retail and hospitality development is also expanding, especially around areas like Ninth Street, the American Tobacco Campus, and Southpoint Mall. Flex spaces and light industrial zones have gained interest due to the growing needs of logistics and lab facilities.
Wake County Commercial Real Estate
Wake County leads the Triangle in new commercial development. Raleigh’s Warehouse District and North Hills are undergoing massive transformations with new high-rise towers, hotels, and corporate headquarters.
In Cary and Apex, there’s been significant investment in office parks, medical facilities, and mixed-use commercial centers. Holly Springs and Garner are seeing new industrial parks and distribution hubs as companies look to leverage access to I-40 and nearby airports.
Commercial vacancy rates remain low, and rental rates are steadily climbing due to continued demand from both large companies and small businesses. Wake County’s proactive economic development plans are making it one of the most desirable places in the Southeast for commercial investment.
Family Life & Community Appeal
Durham County boasts a rich cultural heritage, top-tier healthcare (Duke Hospital), and a diverse, inclusive atmosphere. Families are drawn to its well-rated charter and magnet schools, family-friendly festivals, and growing number of playgrounds, museums, and art centers. The American Tobacco Campus and Durham Bulls Athletic Park provide great weekend activities for families.
Wake County is often considered a top destination for relocating families. Its public schools are among the best in the state, with many ranking nationally for excellence. Parks, greenways, and family-focused programming are abundant. Cary and Apex, in particular, are praised for safety, cleanliness, and overall quality of life.
Economic Development & Job Growth
Both counties benefit from the nearby Research Triangle Park, which houses over 300 companies and 55,000+ workers. The Triangle’s economy is anchored in tech, biotech, finance, and education. Companies like Cisco, IBM, Biogen, and Apple (with its new East Coast campus) are contributing to job growth and pushing demand for housing.
In recent years, downtown Raleigh and Durham have also become hotspots for startups and innovation centers, further fueling the influx of skilled professionals and boosting the housing market.
Investing in Durham & Wake Counties: A Smart Move
Real estate investors find both counties attractive due to:
- Steady Appreciation – With consistent population growth and demand, property values are on a long-term upward trend.
- Rental Demand – With major universities, hospitals, and tech firms nearby, rental properties (especially single-family homes and townhomes) remain in high demand.
- New Developments – Continued investment in infrastructure, transit, and mixed-use spaces enhances desirability and increases property values.
- Quality of Life – Great weather, diverse food scenes, access to the mountains and coast, and vibrant cultural life make these counties highly livable.
- Commercial Opportunities – For investors focused on retail, office, or industrial properties, both Durham and Wake Counties offer strong ROI potential, especially in growth corridors and innovation zones.
A Town-by-Town Snapshot
Durham County
- Durham (City): Revitalized urban center, popular for young professionals and students.
- Bahama & Rougemont: Rural, scenic living with larger lots, great for those seeking peace and privacy.
Wake County
- Raleigh: Urban, cultural hub with universities, museums, and nightlife.
- Cary: Upscale suburb, known for safety, top schools, and high quality of life.
- Apex: Historic charm meets new development, family-oriented.
- Fuquay-Varina: Affordable homes, growing town with strong community feel.
- Wake Forest: Attractive to retirees and families; good balance of suburban and small-town feel.
- Garner & Holly Springs: Rapidly growing with new schools, retail centers, and diverse housing.
The property tax landscape in Durham and Wake Counties is evolving alongside their booming real estate markets. With manageable tax rates, rising property values, and vibrant, family-friendly communities, these counties offer exceptional opportunities for homeowners and investors alike.
Whether you’re a first-time homebuyer, a growing family looking for stability, or an investor seeking long-term growth, Durham and Wake Counties deliver a strong case for putting down roots in North Carolina.
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