What Is The Cost Of Living In Cary NC?
Located within the Research Triangle, the town of Cary NC is regarded as one of the best small cities in North Carolina. Thanks to its strong economy, thriving job market, top education, and great amenities, more people find it as a great place to live. If you were thinking about relocating to Cary North Carolina you probably want to know how affordable it is to live here. What is the cost of living in Cary NC, and how it compares to other cities in the Triangle Region? Let’s find out!
If we compare Cary to other cities in the Research Triangle Park, it will come out as one of the expensive cities located within the Park. The cost of living in Cary NC is about 15% more expensive than the state average. Chapel Hill is close to Cary in terms of costs, but it is about 20% more expensive than Durham and 15% more expensive than Raleigh. The average home price in Cary NC is what makes the big difference between some of these cities.
The most recent data from Zillow suggests that the median home value for homes in Cary is close to $404,000. If we make a side by side comparison, Durham has a median home value of about $270,000, and Raleigh’s homes are valued at a median price of about $300,000. Cary NC has an average rent price close to $1,200/month, and about 73% of apartments for rent are priced between $1,000 to $1,500 per month.
Living in the town of Cary NC may not be the cheapest option, but many would argue that it is the best option. Money Magazine mentioned the city many times in its rankings as one of the best towns in the East. Cary NC offers many opportunities as far as jobs, entertainment and education go, and these aspects offset the fact that it might come at a higher price.
The town is highly praised for its attractions, restaurants, and its upscale real estate market. Its diverse community with friendly people makes you feel at home as soon as you arrive, and its bright future intrigues many people who think about relocating to the area. If you are thinking about the same thing, contact one of our top real estate agents in Cary NC, and they will help you find the perfect home in the shortest amount of time possible. Enjoy the quality lifestyle and the brilliant community of Cary North Carolina.
Popular Real Estate Questions
Popular Real Estate Glossary Terms
Association of people not treated as a corporation. Examples are a limited partnership and a group of cooperative owners. ...
An individual's possessions at his residences, such as furniture. A listing of items and their costs is recommended to obtain proper insurance coverage and as support for insurance ...
Capacity in real life has numerous meanings. So, what is the definition of capacity? The “capacity definition’ applies to the highest amount a distinct object or entity can ...
(1) Price a buyer is willing to pay, or bid, for a certain piece of property. It is the highest price offered to buy the property. (2) Price per share that shareholders receive when they ...
Present worth of the property which is different than the price paid for it or its book value (cost less accumulated depreciation). The current value may be determined through appraisal. ...
Homes with division of ownership or use of a resort unit on the basis of time periods. For example, a resort home may be divided into 25 time shares of two weeks each, with two weeks left ...
The term foreign direct investment (FDI) refers to the purchase of an interest in a company from an investor or company that is located outside of the borders of the company in which the ...
Special tax incentive for the continued use and rehabilitation of historical buildings and old structures in an effort to arrest urban decay. Developers receive a credit based on a ...
The term developer’s profit is the actual profit generated by a developer’s project after the costs of the development have been covered. This profit can come from the sale of ...
Have a question or comment?
We're here to help.