Quick facts: Cary, NC

Quick Facts

100.6
Cost of Living
above US average
180,388
Population
11.74
Crime Rate per 1000
below US average
$125,317
Median Income
above US average
$599,900
Median House Price
above US average
$2135.19
Average Rent
above US average
4%
Poverty Rate
below US average
3.2%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $125,317.

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Income Needed to Buy

βœ— Stretch
$188k/year
Based on $599,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $188k vs median $125,317
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Income Needed to Rent

βœ“ Affordable
$92k/year
Based on $2135.19/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($125,317) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Cary, NC

Cary, North Carolina, is a vibrant town located in Wake County, near the Research Triangle. With a population of around 170,000, it is known for its excellent quality of life, top-rated schools, and numerous parks. The town is bordered by the cities of Raleigh, Apex, and Morrisville, making it a convenient hub for both business and recreation. Cary boasts a thriving economy, largely driven by the presence of tech companies and research institutions in the nearby Triangle area. The town has a picturesque downtown area, offering a variety of shops, dining options, and cultural activities. The annual Lazy Daze Arts & Crafts Festival showcases local artists and attracts visitors from across the region. Outdoor enthusiasts will enjoy the numerous green spaces, such as Fred G. Bond Metro Park, which features trails, lakes, and sports facilities. Cary also promotes a strong sense of community, hosting events throughout the year including farmers markets and holiday celebrations. With its suburban charm, family-friendly atmosphere, and strong economic opportunities, Cary is a highly sought-after place to live and work in North Carolina.

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