Cary, NC—27518
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 $726,000, with a year-over-year change of 1.1%. This indicates that home prices in Cary, NC are increasing. According to Zillow, the 1-year price projection is 0.7%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $726,000 | 1.1% |
| Single Family | $734,000 | 1.1% |
| Condos | $277,000 | -2.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $590,000 | 0.7% |
4 Bed | $743,000 | 1.2% |
| 5 Bed | $947,000 | 0.0% |
% of Housing Stock
Rental Trends — Cary, NC
As of July '25, Rentcast reports the average rent in Cary, NC is $1,720, with a year-over-year rent change of -1.1%. Per bedroom, the median rent as of July '25 in Cary, NC is studios: $1,320, 1-bedrooms: $1,420, 2-bedrooms: $1,740, 3-bedrooms: $2,180, 4-bedrooms: $3,610. The most common rental property sizes in Cary, NC are 2-bedroom and 1-bedroom, accounting for 45.1% and 40.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,600 | $1,720 |
| Studio Rent | $1,240 | $1,320 |
| 1 Bed Rent | $1,400 | $1,420 |
| 2 Bed Rent | $1,720 | $1,740 |
| 3 Bed Rent | $2,090 | $2,180 |
| 4 Bed Rent | $3,200 | $3,610 |
% 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 41. This is a increase of 8.0% 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 38.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $760,000 | -1.0% |
Listing Count | 78 | 38.0% |
| Listings as % of Homes | 0.4% | 38.0% |
Days on Market | 41 | 8.0% |
Demographics — Cary, NC
As of the latest ACS Survey released in 2023, Cary, NC has a population of 19,000, which has decreased by -9.0% over the past 5 years. Cary, NC is a moderately popular place for families, as children make up 17.2% of the population. The area has a highly educated workforce, with 72.1% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 31.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 19,000 | -9.0% |
% Under 18 | 17.2% | -23.6% |
% Seniors | 21.4% | 47.6% |
% WFH | 31.2% | 183.6% |
% w/ College Degree | 72.1% | -1.4% |
As of the latest ACS Survey released in 2023, Cary, NC is a predominantly white area, with 73.5% of the population identifying as white. The white population has shrunk by 4.3% in the last 5 years. The second most common race or ethnicity in Cary, NC is asian, making up 11.4% of the population. Foreign-born residents account for 17.4% of the population in Cary, NC, and this percentage has increased by 8.1% 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 | 73.5% | -4.3% |
% Black | 6.6% | -8.3% |
% Hispanic | 4.2% | 35.5% |
% Asian | 11.4% | 4.6% |
% Foreign Born | 17.4% | 8.1% |
Mortgage and Risk — Cary, NC
According to HUD data as of 2023, there were 318 mortgage originations in Cary, NC, of which 95.0% of loans were conventional mortgages. The average loan-to-value was 48.0%, with 9.0% above 90% LTV (normal). This implies small mortgage risk in Cary, NC. Investor activity is low, as 0.0% of loans were by investors. 5.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 318 |
% Conventional Loans | 95.0% |
% Government Loans | 5.0% |
% Investor Loans | 0.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 5.0% |
Loan Activity
Rentals and Section 8 — Cary, NC
As of 2024, the percent of homes in Cary, NC under the Section 8 program is 0.1%. 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 | 3 |
Total Units Section 8 | 3 |
% Rentals under Section 8 | 0.1% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $370 | $1,400 | $1,770 |
| 2 Bedroom | $240 | $1,720 | $1,960 |
| 3 Bedroom | $350 | $2,090 | $2,440 |
| 4 Bedroom | $90 | $3,200 | $3,290 |
Affordability — Cary, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.4 |
| Median Home Price | $726,000 |
| Median Household Income | $121,000 |