The man was arrested last Monday along with a 30-year-old woman.
He is also accused of possessing drugs and a threat to commit arson last Saturday.
The man appeared before a special sitting of Newtownards' Magistrates' Court on Saturday afternoon.
On Thursday the 30-year-old woman was charged with a number of offences connected to the murder - namely conspiracy to do an act with intent to pervert the course of justice, assisting offenders, and impeding police.
She was also further charged with possessing a class A controlled drug and possessing the same with intent to supply.
Mr Davidson, was found dead in the living room of his house in the Ballyholme Road area of the town last Sunday at around 5pm.
He died in what police described as a "violent struggle".
A 49-year-old man and a 61-year-old woman arrested by police investigating the murder were also released pending report.