Cost of Living in Cary, NC

With a cost of living index of 127, Cary, NC is a notably expensive place to live. Living here is 27% more expensive than the national average and 42% above the North Carolina state average of 84. As a major city with a population of 176,686, Cary offers a wide range of housing options, employment opportunities, and urban amenities.

Housing costs are the biggest factor in Cary's cost of living. The median monthly rent is $1,621 (23% above the US median of $1,319), and the median home value sits at $525,200 (72% above the national median of $304,900). At current prices, the median home costs roughly 4.1x the median household income — a moderately affordable ratio by today's standards.

The median household income in Cary is $129,399, which is 72% higher than the national median of $75,149. Residents spend roughly 15% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. While incomes are above average, they more than offset the higher cost of living.

Everyday prices in the Raleigh-Cary, NC (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 6 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.