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
The term agricultural property means a type of land that has been designed or is permitted to engage in agricultural activities. Also referred to as agricultural land, agricultural ...
property suitable for residential living, such as a house, duplex, apartment, mobile home, or condominium. ...
An enticingly attractive initial rate below the market offered in an adjustable rate mortgage. For example, the teaser rate may be offered at 2% below market. A borrower who cannot qualify ...
Adding a period of time onto another. An examples a mortgagor who successfully restructures his loan by tacking another five years onto the term. ...
The rate, usually expressed annually, charged on money borrowed or lent. The interest rate may be variable or fixed. The higher the risk, the higher the interest rate. Mortgage interest ...
Performance of a complete inventory of real property within a jurisdiction. A cadastral program produces the cadastral map. ...
One of the parties is unable to satisfy the conditions of the purchase and sale contract. ...
Unsecured long-term debt. There is no collateral or lien on the property. A debenture can only be issued by a financially sound borrower with an excellent credit rating because no ...
Any of a number of types of covenants agreeing to do or not to do something that is attached to the title and is passed form one owner to the next. See also covenant running with the land. ...
Have a question or comment?
We're here to help.