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Cary real estate market overview
- Average Monthly Rent: $1,664
- Home Price/Value Percentage Change: 1.20%
- Median Home Value: $570,287
- Best Time To Sell a Home: May
- Affordability Index: Moderate
- Days To Sell a House: 49
- Job Market: Fair
- Public School Ranking: 29
Location and weather
Cary is located in the heart of the Triangle area of North Carolina, just between Raleigh and Research Triangle Park. This thriving, tight-knit city is located in the middle of the state which allows for accessible travel to both mountains and beaches. Cary is also near the Raleigh Durham International Airport, Chapel Hill, and is a four-hour drive to the Blue Ridge and Great Smoky Mountains in western Carolina.
This city has a warm and temperate climate, that consists of hot summers and short, cold winters. Cary does receive a substantial amount of rain throughout the year but has mild winters with around 4 inches of snow.
Population, job market and cost of living
The population in Cary is 186,568, with a growth rate of 2.16% annually.
The job growth here has decreased by -5.21% over the last year and in ten years, is predicted to have increased by 44.6%. Some of the biggest industries here include information technology, software, Smart Grid technology, biomedical and nanotechnology. The largest companies to work for in Cary are DataFlux, SAS Institute, Ply Gem Holdings, Raleigh regional Association of realtors and Sapiens.
The cost of living in this city is higher than the national average, which means Cary is a more expensive place to live. As the job growth and population increases in this city, so does the city's expansion. This is why it remains one of the most appealing places to live in the state of North Carolina.
Cary real estate market details
- Amberly
- Carpenter
- Cary Park
- Lochmere
- MacGregor Downs
- Preston
- Regency
The average monthly rent in Cary is $1,664 for an average apartment size of 1,010 sq. feet.
There has been a 1.2% increase in median home value over the last year. As of 2023, the median home value is $570,287.
On average, homes in Cary sell after 49 days on the market.
Homes sold in May can provide homeowners with the highest valued sale, while sales in July will provide the fastest sale.
The affordability index in Cary is 114. This number indicates moderate affordability in this city.
The top ranked public schools are Green Level high School, Panther Creek High School, Crossroads Flex Elementary School, Mills Park Elementary School and Mills Park Middle School. This information is dependent on key statistics, reviews from students and parents, and data from the US Department of Education.