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City · 179,306 residents · Wake County, North Carolina

Cary , North Carolina

In Cary, a typical home is worth $580,200 and typical rent is $1,738 a month. Compared with all of Wake County, typical household income is 28% higher and the typical home value is 26% higher.

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  • Typical home value

    $580,200

    26% above the county

    101% above North Carolina

    • Cary
    • Wake
    • North Carolina

  • Typical rent

    $1,738a month

    7% above the county

    42% above North Carolina

    • Cary
    • Wake
    • North Carolina

  • Typical household income

    $134,905a year

    28% above the county

    86% above North Carolina

    • Cary
    • Wake
    • North Carolina

  • Households that own their home

    67%

    3 points above the county

    About the same as North Carolina

    • Cary
    • Wake
    • North Carolina

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$613,395
1.3% less than 12 months ago
Typical rent
$1,768 a month
1.5% more than 12 months ago

From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).

Cary is in Wake County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Wake County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Cary apart

What this place has that others do not, from public data, most unusual first.

  1. Cary has the 7th highest typical home value of the 166 cities in North Carolina with more than 5,000 people ($580,200).

  2. Nearby, in Raleigh, the typical home value is $415,800: 28% less than in Cary ($580,200).

  3. The typical household income in Cary is $134,905, 28% more than in Wake County as a whole ($105,768).

  4. Cary has the 9th smallest share of rent-burdened renters of the 136 cities in North Carolina with more than 5,000 people (38%).

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Cary

What homes there are in Cary, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

As in Wake County, most homes in Cary are detached houses (59%).

Year built

The typical year built in Cary is 1999, about the same as in Wake County (2000).

Homes in Cary are bigger: 71% have 3 bedrooms or more; in Wake County, 67%.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes

About 45% of owner-occupied homes in Cary are worth less than the FHA loan limit for Wake County ($541,287); the rest are worth more.

Monthly rent with utilities

With a mortgage

$2,389 a month

Wake County: $2,113 a month

Without a mortgage

$763 a month

Wake County: $672 a month

Owners with a mortgage

72%

Wake County: 74%

Owning costs more in Cary: with a mortgage, the typical cost is $2,389 a month; in Wake County, $2,113. Without one, $763.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

Much as in Wake County, the typical home value in Cary rose 63% since 2015–2019.

Much as in Wake County, the typical rent in Cary rose 40% since 2015–2019.

The typical household income in Cary rose 29%: less than home values (+63%) and rent (+40%).

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureCaryWake CountyNorth CarolinaUnited States
Rental vacancy 10.1%8.9%7.1%5.5%
Homeowner vacancy Unreliable estimate0.6%1.3%0.9%
More than one person per room 2.0%1.9%2.2%3.4%
People per household 2.572.512.442.53
Drive alone 56%61%72%69%
Carpool 5%6%9%9%
Public transit 0%1%1%3%
Walk or bike 1%1%2%3%
Work from home 37%29%16%15%
Other means 1%2%1%2%
Typical commute 20 to 29 minutes20 to 29 minutes20 to 29 minutes20 to 29 minutes

In Cary, the rental vacancy rate is 10.1%; in Wake County, 8.9%.

More than one person per room: that is how 2.0% of households in Cary live, near the figure in Wake County (1.9%).

By size, households in Cary look like those in Wake County: 2.57 people on average.

Working from home is more common in Cary: 37%, against 29% in Wake County.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Cary?

A typical home costs more than the typical income allows

We start with a typical home in Cary, worth $580,200, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 42% of the typical household income in Cary, which is $134,905 a year. For that payment to be 28% of income, a household would need to earn about $201,469 a year. Note: at that price the loan is above the FHA limit for Wake County ($541,287), so FHA would not insure it; the payment is only a reference.

The calculator's FHA and conventional loan limits are those of all of Wake County.

Your numbers

Local data
$

Starts at the typical home value in Cary. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $20,307 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$4,701

at 7.18% · 30 years

Loan amount
$569,691
Total interest
$819,652
Paid off in
November 2056

Includes $9,798 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $3,148 a month

  • Tight

    $3,148 to $4,047 a month

  • Hard

    more than $4,047 a month

    Your payment · 42%

Compared with the typical household income in Cary ($134,905 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$4,701
Principal & interest$3,859
Property tax$343
Home insurance$242
FHA mortgage insurance (MIP)$257

This loan is over the FHA limit

You'd borrow $559,893, but the FHA limit for a one-unit home in Cary is $541,287. You'd need a bigger down payment or a different loan.

You need at least $20,307 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Cary and Wake County

Cary is in Wake County, North Carolina. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Cary's own numbers

Typical home value
$580,200
Typical monthly rent
$1,738
Typical yearly household income
$134,905
Households that own their home
67%
Effective property tax rate
0.71%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Wake County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,689
Price change over 5 years (FHFA)
+57%
Homes in a high flood-risk zone
0.5%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Wake County.

Everything about Wake County

Buying

Buying a home in Cary

A typical home in Cary is worth $580,200: 26% above the county and 101% above North Carolina. With the typical household income in Cary ($134,905 a year), a typical home costs 4.3 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Cary 4.3 years
  • Wake 4.4 years
  • North Carolina 4.0 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Wake County

According to FHFA’s house price index, home prices in Wake County rose 107% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Wake County.

Period County North Carolina U.S.
Last year (2025) +1.0% +2.5% +2.9%
5 years (2020–2025) +57% +60% +47%
10 years (2015–2025) +107% +107% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Cary next to Wake County, North Carolina and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Cary $580,200
  • Wake $461,300
  • North Carolina $288,900
  • United States $332,700
Typical monthly rent
  • Cary $1,738
  • Wake $1,623
  • North Carolina $1,228
  • United States $1,413
Typical yearly household income
  • Cary $134,905
  • Wake $105,768
  • North Carolina $72,388
  • United States $80,734
See the full table
Cary next to Wake County and North Carolina
Measure Cary Wake County North Carolina U.S.
Typical home value $580,200 $461,300 $288,900 $332,700
Typical monthly rent $1,738 $1,623 $1,228 $1,413
Typical yearly household income $134,905 $105,768 $72,388 $80,734
Households that own their home 67% 64% 67% 65%
Typical yearly property tax $4,142 $3,260 $1,896 $3,119
Effective property tax rate 0.71% 0.71% 0.66% 0.94%
Renters with high rent for their income 38% 48% 49% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Wake County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Cary

For a typical $580,200 home in Cary, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Cary's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $4,701a month

    Above the FHA limit for Wake County ($541,287)
    Down payment
    $20,307
    Cash to close
    $37,713
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $257

  • Conventional, 5% down $4,595a month

    Least cash to close
    Down payment
    $29,010
    Cash to close
    $46,416
    Rate
    7.18%
    Mortgage insurance
    PMI · $276

  • Conventional, 20% down, no PMI $3,729a month

    Down payment
    $116,040
    Cash to close
    $133,446
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $4,266a month

    Down payment
    $87,030
    Cash to close
    $104,436
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is Conventional, 5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Cary and for Wake County.

Property tax

Effective rate in Cary

0.71%of the home’s value each year

$4,142 a year for the typical owner in Cary.

  • Cary 0.71%
  • Wake 0.71%
  • North Carolina 0.66%

What North Carolina publishes Elderly or Disabled Homestead Exclusion (North Carolina General Assembly (statute))

Exemptions and deadlines in North Carolina

Flood risk in Wake County

FEMA does not publish these numbers by city: they are for all of Wake County.

Homes in the high-risk zone
0.5%
1,680
Of those, with NFIP insurance
46%
County North Carolina U.S.
Homes in the high-risk zone 0.5% 2.8% 3.5%
Of those, with NFIP insurance 46% 53% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Cary

Typical rent in Cary is $1,738 a month: 7% above the county. In Cary, 38% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Wake County, by unit size. To pay the 2-bedroom one ($1,689 a month) without spending more than 30% of your income, you would need to earn $32.48 an hour working full time.

HUD fair market rent for all of Wake County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $1,489 $28.63 $59,560
1 bedroom $1,552 $29.85 $62,080
2 bedrooms $1,689 $32.48 $67,560
3 bedrooms $2,103 $40.44 $84,120
4 bedrooms $2,823 $54.29 $112,920

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Cary

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Cary has 4 ZIP codes with their own.

For 2 bedrooms it runs from $1,610 in 27511 to $2,140 in 27519.

3 of the 4 are above the fair market rent for Wake County ($1,689).

  • 27511 $1,610$2,000
  • 27513 $1,840$2,290
  • 27518 $1,800$2,240
  • 27519 $2,140$2,660

3 of these ZIP codes cross the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Cary when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Cary

HUD lists 13 buildings with rents for lower incomes in Cary. These are the largest.

  • The Grove at Cary Park 4545 Cary Glen Blvd, Cary 27519 120 low-income homes · 1 bd: 20 · 2 bd: 60 · 3 bd: 24 · 4 bd: 16 · In service since 2003 · For families
  • Highland Terrace 1500 Highland Village Dr, Cary 27511 80 low-income homes · 1 bd: 59 · 2 bd: 21 · In service since 2011 · For older adults
  • Weatherstone Spring Congregate Care Living Seniors 200 Weather Ridge Ln, Cary 27513 72 low-income homes · 1 bd: 60 · 2 bd: 12 · In service since 2005 · For older adults
  • Westwood Park Apts 600 Glendon Way, Cary 27519 72 low-income homes · 2 bd: 48 · 3 bd: 24 · In service since 1999 · For families
  • The Commons at Highland Village 100 Highland Commons Ct, Cary 27511 68 low-income homes · 1 bd: 52 · 2 bd: 16 · In service since 2004 · For older adults

See all 195 buildings in Wake County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Cary

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

There are 9 HUD-approved agencies with an office in Wake County; 7 say they serve in Spanish.

A young woman and a young man point to a line in their notes beside a laptop in a library.

HUD counseling is free or low-cost

Assistance programs in Cary

No down payment, repair or rent-help program on our list is for Cary or Wake County. The ones below are statewide in North Carolina: they work in Cary the same as in the rest of the state.

Which programs do I qualify for? All programs in North Carolina

  • NC Home Advantage Mortgage

    Statewide in North Carolina

    NCHFA fixed-rate mortgage with down payment assistance, for first-time buyers and for people who have owned a home before, in North Carolina. Offered by North Carolina Housing Finance Agency (NCHFA).

    Forgivable

    See the program Official page

  • NC 1st Home Advantage Down Payment

    Statewide in North Carolina

    A fixed amount of NCHFA down payment assistance for first-time buyers and veterans in North Carolina. Offered by North Carolina Housing Finance Agency (NCHFA).

    Type not stated

    See the program Official page

  • Community Partners Loan Pool (CPLP)

    Statewide in North Carolina

    NCHFA interest-free loan with deferred payments of up to 25% of the price (maximum $50,000) for the down payment of low- and moderate-income buyers in North Carolina; you apply through a member organization. Offered by North Carolina Housing Finance Agency (NCHFA).

    Deferred

    See the program Official page

Housing counselors near Cary

The HUD-approved agencies closest to the center of Cary, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • White Oak Foundation, Inc.

    1624 White Oak Church Rd, Apex · 5 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 5 more
    (919) 362-6799

  • Navicore Solutions- Raleigh, NC

    4917 Waters Edge Dr, Raleigh · 6 miles away · Spanish

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 4 more
    (866) 472-4557

  • Cccs, A Division of Triangle Family Services, Inc.

    3937 Western Blvd, Raleigh · 7 miles away · Spanish

    Also serves in Arabic, American Sign Language (ASL), Cambodian, Cantonese, and 17 more languages.

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 6 more
    (919) 821-0790

Every agency in Wake County All counseling agencies in North Carolina

Help in Spanish near Cary

2 of the 3 agencies on this list say they serve in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Cary

HUD’s record names them for Cary or Wake County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

  • Housing Authority of the County of Wake Public housing and Section 8 vouchers (919) 269-6404

2 other authorities have an office in Wake County: see the list Source: HUD

Cities

Other cities in Wake County

These cities are also in Wake County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Wake County Housing in North Carolina

Nearby cities

The cities closest to Cary, with the typical home value.

Neighboring counties

If Wake County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Cary.

All guides
A family roasts marshmallows over a campfire at a forest campsite.

Questions

Housing questions about Cary

Short answers with the numbers for Cary and all of Wake County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Cary?

The typical home value in Cary is $580,200, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Wake County it is $461,300.

How much does it cost to rent in Cary?

Typical rent in Cary is $1,738 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Wake County is $1,689.

What is the FHA loan limit in Cary?

Cary uses the FHA limit for all of Wake County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Cary?

The typical homeowner in Cary pays $4,142 a year, according to the U.S. Census Bureau. That is 0.71% of the home’s value; in Wake County, the rate is 0.71%.

Where can I find free help to buy or rent in Cary?

There are 9 HUD-approved counseling agencies with an office in Wake County. 7 say they serve in Spanish. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).