Cary, NC—27519
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 $699,000, with a year-over-year change of -0.7%. This indicates that home prices in Cary, NC are flat. According to Zillow, the 1-year price projection is 0.5%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $699,000 | -0.7% |
| Single Family | $705,000 | -1.0% |
| Condos | $356,000 | -4.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $476,000 | -1.9% |
3 Bed | $521,000 | -2.8% |
4 Bed | $694,000 | -0.9% |
| 5 Bed | $1,003,000 | -1.0% |
% of Housing Stock
Rental Trends — Cary, NC
As of July '25, Rentcast reports the average rent in Cary, NC is $1,970, with a year-over-year rent change of -3.0%. Per bedroom, the median rent as of July '25 in Cary, NC is studios: $1,360, 1-bedrooms: $1,370, 2-bedrooms: $1,740, 3-bedrooms: $2,250, 4-bedrooms: $2,750. The most common rental property sizes in Cary, NC are 2-bedroom and 3-bedroom, accounting for 35.9% and 25.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,790 | $1,970 |
| Studio Rent | $1,360 | $1,360 |
| 1 Bed Rent | $1,360 | $1,370 |
| 2 Bed Rent | $1,680 | $1,740 |
| 3 Bed Rent | $2,250 | $2,250 |
| 4 Bed Rent | $2,650 | $2,750 |
% 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 46. This is a increase of 17.0% 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 29.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $621,000 | -1.0% |
Listing Count | 237 | 38.0% |
| Listings as % of Homes | 0.8% | 38.0% |
Days on Market | 46 | 17.0% |
Demographics — Cary, NC
As of the latest ACS Survey released in 2023, Cary, NC has a population of 68,000, which has increased by 23.3% over the past 5 years. Cary, NC is a popular place for families, as children make up 28.5% of the population. The area has a highly educated workforce, with 78.2% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 36.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 68,000 | 23.3% |
% Under 18 | 28.5% | -6.6% |
% Seniors | 10.4% | 5.1% |
% WFH | 36.4% | 200.8% |
% w/ College Degree | 78.2% | 2.5% |
As of the latest ACS Survey released in 2023, Cary, NC is a predominantly white area, with 45.8% of the population identifying as white. The white population has shrunk by 12.8% in the last 5 years. The second most common race or ethnicity in Cary, NC is asian, making up 36.0% of the population. Foreign-born residents account for 32.3% of the population in Cary, NC, and this percentage has increased by 14.9% 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 | 45.8% | -12.8% |
% Black | 7.4% | 4.2% |
% Hispanic | 6.5% | 38.3% |
% Asian | 36.0% | 11.1% |
% Foreign Born | 32.3% | 14.9% |
Mortgage and Risk — Cary, NC
According to HUD data as of 2023, there were 1216 mortgage originations in Cary, NC, of which 96.0% of loans were conventional mortgages. The average loan-to-value was 55.0%, with 13.0% above 90% LTV (elevated). This implies medium mortgage risk in Cary, NC. Investor activity is low, as 2.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 1,216 |
% Conventional Loans | 96.0% |
% Government Loans | 4.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Cary, NC
As of 2024, the percent of homes in Cary, NC under the Section 8 program is 1.6%. 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 | 108 |
Total Units Section 8 | 108 |
% Rentals under Section 8 | 1.6% |
% Occupied Section 8 | 89.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $720 | $1,360 | $2,080 |
| 2 Bedroom | $630 | $1,680 | $2,310 |
| 3 Bedroom | $620 | $2,250 | $2,870 |
| 4 Bedroom | $1,200 | $2,650 | $3,850 |
Affordability — Cary, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.1 |
| Median Home Price | $699,000 |
| Median Household Income | $159,000 |