Cary, NC—27513
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Cary, NC
As of Oct '25, the median home price in Cary, NC is $557,000, with a year-over-year change of -1.2%. This indicates that home prices in Cary, NC are decreasing. According to Zillow, the 1-year price projection is 0.6%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $557,000 | -1.2% |
| Single Family | $569,000 | -1.4% |
| Condos | $280,000 | -5.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $313,000 | -4.0% |
3 Bed | $466,000 | -2.3% |
4 Bed | $659,000 | -1.2% |
| 5 Bed | $974,000 | -0.6% |
% of Housing Stock
Rental Trends — Cary, NC
As of July '25, Rentcast reports the average rent in Cary, NC is $1,840, with a year-over-year rent change of 2.8%. Per bedroom, the median rent as of July '25 in Cary, NC is studios: $1,420, 1-bedrooms: $1,470, 2-bedrooms: $1,890, 3-bedrooms: $2,260, 4-bedrooms: $2,820. The most common rental property sizes in Cary, NC are 1-bedroom and 2-bedroom, accounting for 36.7% and 35.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,700 | $1,840 |
| Studio Rent | $1,400 | $1,420 |
| 1 Bed Rent | $1,490 | $1,470 |
| 2 Bed Rent | $1,840 | $1,890 |
| 3 Bed Rent | $2,290 | $2,260 |
| 4 Bed Rent | $2,600 | $2,820 |
% of Rental Stock
Property Listings — Cary, NC
As of Oct '25, Realtor.com reports that the median days on market for a home in Cary, NC is 51. This is a increase of 27.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 40.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $531,000 | -8.0% |
Listing Count | 162 | 30.0% |
| Listings as % of Homes | 0.4% | 30.0% |
Days on Market | 51 | 27.0% |
Demographics — Cary, NC
As of the latest ACS Survey released in 2023, Cary, NC has a population of 47,400, which has increased by 5.9% over the past 5 years. Cary, NC is a moderately popular place for families, as children make up 20.7% of the population. The area has a highly educated workforce, with 67.9% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 31.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 47,400 | 5.9% |
% Under 18 | 20.7% | -7.6% |
% Seniors | 13.0% | 20.4% |
% WFH | 31.5% | 208.8% |
% w/ College Degree | 67.9% | 6.1% |
As of the latest ACS Survey released in 2023, Cary, NC is a predominantly white area, with 63.4% of the population identifying as white. The white population has shrunk by 6.9% in the last 5 years. The second most common race or ethnicity in Cary, NC is asian, making up 12.5% of the population. Foreign-born residents account for 20.5% of the population in Cary, NC, and this percentage has increased by 7.9% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 63.4% | -6.9% |
% Black | 8.1% | -3.6% |
% Hispanic | 11.3% | 52.7% |
% Asian | 12.5% | -1.6% |
% Foreign Born | 20.5% | 7.9% |
Mortgage and Risk — Cary, NC
According to HUD data as of 2023, there were 267 mortgage originations in Cary, NC, of which 95.0% of loans were conventional mortgages. The average loan-to-value was 52.0%, with 13.0% above 90% LTV (elevated). This implies medium mortgage risk in Cary, NC. Investor activity is low, as 3.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 267 |
% Conventional Loans | 95.0% |
% Government Loans | 5.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Cary, NC
As of 2024, the percent of homes in Cary, NC under the Section 8 program is 0.3%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Cary, NC, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 20 |
Total Units Section 8 | 20 |
% Rentals under Section 8 | 0.3% |
% Occupied Section 8 | 93.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $230 | $1,490 | $1,720 |
| 2 Bedroom | $60 | $1,840 | $1,900 |
| 3 Bedroom | $70 | $2,290 | $2,360 |
| 4 Bedroom | $590 | $2,600 | $3,190 |
Affordability — Cary, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.4 |
| Median Home Price | $557,000 |
| Median Household Income | $119,000 |