Cary, NC
Wake County · Pop. 176,987
Ranked #121 of 243 cities
40Moderate
Median Home Price
🏠$450K
4.0% YoY
Median Rent
🔑$1,700
2.5% YoY
Median Income
💰$95K
Rent Burden
📊25.0%
% of income to rent
Income to Buy
🏦$129K
annual income needed
Income to Rent
📝$68K
annual income needed
Price-to-Income
⚖️4.7x
Homeownership
🏡70.0%
Rent vs. Buy
Buy
$2,395/mo
Est. mortgage (7%, 20% down)
Need $129K/yr income
Rent
$1,700/mo
Median rent
Need $68K/yr income
How Cary Compares
| Metric | Cary | North Carolina | National |
|---|---|---|---|
| Home Price | $450K | $309K | $410K |
| Rent | $1,700 | $1,245 | $1,500 |
| Income | $95K | $71K | $75K |
| Rent Burden | 25.0% | 31.5% | 30.0% |
Key Takeaways
- • Home prices in Cary are 10% higher than the national average.
- • Rent is 13% higher than the national average.
- • You need an income of $129K to comfortably buy a home here.
- • The homeownership rate is 70.0%, compared to 65.0% nationally.