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Cary real estate market overview
- Average Monthly Rent: $1,689
- Home Price/Value Percentage Change: 3.7%
- Median Home Value: $556,013
- Best Time To Sell a Home: May
- Affordability Index: 114
- Days To Sell a House: 63
- 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
Cary has a population of 186,568, with a growth rate of 2.16% annually.
The job market has decreased by -5.21% over the last year. In ten years, job growth is predicted to be 44.6%. Cary is known for its healthy job market, with a significant amount of its residents employed in Research Triangle Park, which is the largest research park in the United States. Information, software, nanotechnology, and biomedical sectors of Cary's job market are currently leading the city's economy. SAS Institute, DataFlux, American Airlines and John Deer are also the largest employers in the area.
Living in Cary is more expensive than North Carolina's average cost of living, with higher housing costs compared to other cities within the state.
Cary real estate market details
- Amberly
- Carpenter
- Cary Park
- Lochmere
- MacGregor Downs
- Preston
- Regency
The average monthly rent in Cary is $1,689 for an average apartment size of 1,012 sq. feet.
There has been a 3.7% increase in median home value over the last year. As of 2022, the median home value is $559,013.
On average, homes in Cary sell after 63 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 Hope High School, Panther Creek High School, Wake Early College of Health & Sciences, Apex High School, and Triangle Math & Science Academy School. This information is dependent on key statistics, reviews from students and parents, and data from the US Department of Education.