Cary, NC—27511
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Cary, NC
As of Nov '25, the median home price in Cary, NC is $485,000, with a year-over-year change of -2.4%. This indicates that home prices in Cary, NC are decreasing. 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 | $485,000 | -2.4% |
| Single Family | $492,000 | -2.6% |
| Condos | $297,000 | -8.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $298,000 | -5.4% |
3 Bed | $448,000 | -3.0% |
4 Bed | $595,000 | -2.5% |
| 5 Bed | $917,278 | -0.6% |
% of Housing Stock
Rental Trends — Cary, NC
As of July '25, Rentcast reports the average rent in Cary, NC is $1,930, with a year-over-year rent change of 7.2%. Per bedroom, the median rent as of July '25 in Cary, NC is studios: $1,630, 1-bedrooms: $1,720, 2-bedrooms: $1,860, 3-bedrooms: $2,180, 4-bedrooms: $2,510. The most common rental property sizes in Cary, NC are 2-bedroom and 3-bedroom, accounting for 47.5% and 25.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,850 | $1,930 |
| Studio Rent | $1,610 | $1,630 |
| 1 Bed Rent | $1,850 | $1,720 |
| 2 Bed Rent | $1,700 | $1,860 |
| 3 Bed Rent | $2,000 | $2,180 |
| 4 Bed Rent | $2,150 | $2,510 |
% of Rental Stock
Property Listings — Cary, NC
As of Nov '25, Realtor.com reports that the median days on market for a home in Cary, NC is 59. This is a increase of 28.0% 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 17.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $550,000 | 0.0% |
Listing Count | 168 | 89.0% |
| Listings as % of Homes | 0.3% | 89.0% |
Days on Market | 59 | 28.0% |
Demographics — Cary, NC
As of the latest ACS Survey released in 2023, Cary, NC has a population of 33,300, which has decreased by -3.6% over the past 5 years. Cary, NC is a moderately popular place for families, as children make up 21.6% of the population. The area has a highly educated workforce, with 57.8% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 25.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 33,300 | -3.6% |
% Under 18 | 21.6% | 0.9% |
% Seniors | 19.9% | 21.3% |
% WFH | 25.5% | 235.5% |
% w/ College Degree | 57.8% | 12.7% |
As of the latest ACS Survey released in 2023, Cary, NC is a predominantly white area, with 66.3% of the population identifying as white. The white population has shrunk by 1.3% in the last 5 years. The second most common race or ethnicity in Cary, NC is hispanic, making up 15.3% of the population. Foreign-born residents account for 14.4% of the population in Cary, NC, and this percentage has decreased by 8.3% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 66.3% | -1.3% |
% Black | 8.3% | -26.5% |
% Hispanic | 15.3% | 4.1% |
% Asian | 4.5% | 0.0% |
% Foreign Born | 14.4% | -8.3% |
Mortgage and Risk — Cary, NC
According to HUD data as of 2023, there were 590 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 2.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 590 |
% Conventional Loans | 95.0% |
% Government Loans | 5.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 8.0% |
Rentals and Section 8 — Cary, NC
As of 2024, the percent of homes in Cary, NC under the Section 8 program is 1.8%. 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. 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Cary, NC, because HUD payments exceed market rent, while 1-bedroom and 2-bedroom and 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 120 |
Total Units Section 8 | 82 |
% Rentals under Section 8 | 1.8% |
% Occupied Section 8 | 90.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$400 | $1,850 | $1,450 |
| 2 Bedroom | -$100 | $1,700 | $1,600 |
| 3 Bedroom | -$10 | $2,000 | $1,990 |
| 4 Bedroom | $540 | $2,150 | $2,690 |
Affordability — Cary, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.4 |
| Median Home Price | $485,000 |
| Median Household Income | $104,000 |