Cary is known for its vibrant community, excellent schools, and proximity to major job centers like Raleigh, Durham, and Chapel Hill. The town has a reputation for being family-friendly, with plenty of parks, green spaces, and recreational activities. The local economy is strong, with opportunities in various sectors, including technology, healthcare, and education.
Residents of Cary enjoy a high quality of life, with access to top-notch healthcare facilities, a variety of shopping and dining options, and a well-maintained infrastructure. The town’s location also offers the best of both worlds – you’re close enough to the urban amenities of Raleigh and Durham, yet you can still enjoy a quieter, more relaxed pace of life.
Housing Costs in Cary, NC
Housing is one of the most significant factors affecting the cost of living in Cary. The real estate market in Cary is competitive, with a range of housing options available, from single-family homes to townhouses and apartments.
The average home price in Cary is higher than the national average, reflecting the town’s desirability and growing popularity. As of the latest data, the median home price in Cary hovers around $450,000. While this might be higher than neighboring areas, the investment often pays off in terms of property value appreciation and the quality of life.
If you’re not ready to buy, renting is also a viable option. The average rent for a one-bedroom apartment in Cary is approximately $1,200 per month, while a two-bedroom apartment averages around $1,500. The rental market is robust, with many modern apartment complexes offering amenities like gyms, pools, and community spaces.
Utilities and Household Expenses
The average monthly electricity bill in Cary is around $150, though this can increase during the hot summer months when air conditioning is essential. Heating costs in the winter are generally moderate, thanks to the region’s mild climate.
Expect to pay around $50 to $70 per month for water and sewer services. Garbage collection is usually included in your utility bill or rent if you live in an apartment.
Internet service in Cary typically costs between $50 and $100 per month, depending on the speed and provider. Cable TV can add another $50 to $100 to your monthly expenses, though many residents opt for streaming services instead.
Transportation Costs
- Car Ownership: For those who drive, the cost of owning a vehicle includes gas, insurance, maintenance, and registration. Gasoline prices in Cary are close to the national average, and you can expect to pay around $1,000 per year for car insurance, depending on your driving history and the type of vehicle.
- Public Transportation: While Cary has a public bus system, most residents rely on personal vehicles for daily commuting. The GoCary bus service offers local routes and connections to the regional GoTriangle system, which can be useful for commuting to nearby cities like Raleigh or Durham. Monthly passes for public transportation are affordable, typically costing around $50.
- Rideshare Services: Rideshare options like Uber and Lyft are widely available in Cary, with fares comparable to other cities in the region.
Grocery and Dining Costs
The cost of groceries in Cary is close to the national average. Popular grocery stores like Harris Teeter, Publix, and Trader Joe’s offer a wide range of products. A typical grocery bill for a family of four can range from $600 to $800 per month, depending on dietary preferences and shopping habits.
Regarding the dining out, Cary boasts a diverse dining scene, with restaurants offering everything from casual eats to fine dining. A meal at an inexpensive restaurant might cost around $12 to $15 per person, while a three-course meal at a mid-range restaurant could set you back $50 to $70 for two people.
Healthcare Costs
Healthcare in Cary is accessible and of high quality, with several hospitals and medical centers located nearby.
The cost of health insurance varies depending on your plan, but the average individual premium in North Carolina is around $450 per month. Employer-sponsored plans often offer lower premiums.
The cost of doctor visits and medical procedures in Cary is in line with national averages. A typical visit to a primary care physician might cost around $100 to $150 without insurance, while specialists and hospital services can be more expensive.
Education and Childcare
- Public Schools: Cary is served by the highly-rated Wake County Public School System, which offers excellent public education options. While public schools are tuition-free, parents might budget for extracurricular activities, school supplies, and field trips.
- Private Schools: Private school tuition in Cary can vary widely, ranging from $5,000 to $20,000 per year, depending on the institution and grade level.
- Childcare: The cost of daycare or preschool in Cary is significant, with full-time care averaging between $800 and $1,200 per month per child. After-school programs and summer camps are additional expenses to consider.
Entertainment and Recreation
Gym memberships in Cary typically cost between $30 and $60 per month. The town also offers numerous public parks, trails, and sports facilities that residents can enjoy for little to no cost.
Cary hosts a variety of community events, including concerts, festivals, and farmers’ markets. While some events are free, others may have entry fees ranging from $10 to $50.
The cost of visiting local museums, theaters, and other cultural attractions is generally affordable. For example, a movie ticket in Cary might cost around $12, while a ticket to a live performance could range from $20 to $50.
Taxes
Understanding the tax environment in Cary is crucial for budgeting.
- Property Taxes: Cary’s property tax rate is slightly above the state average but remains competitive compared to other parts of the country. The property tax rate in Cary is approximately 0.84%, meaning a homeowner with a property valued at $400,000 would pay about $3,360 annually in property taxes.
- Income Tax: North Carolina has a flat state income tax rate of 5.25%. This rate applies to all residents, including those in Cary.
- Sales Tax: The sales tax rate in Cary is 7.25%, which is consistent across North Carolina. This includes a state rate of 4.75% and a local rate of 2.5%.
When comparing the cost of living in Cary to nearby cities like Raleigh, Durham, and Chapel Hill, Cary tends to be on the higher side, especially in terms of housing costs. However, many residents find that the higher cost is justified by Cary’s excellent schools, safe neighborhoods, and high quality of life.
For those seeking a balance between suburban living and proximity to urban amenities, Cary offers an appealing option, with a cost of living that, while slightly higher than some neighboring areas, is competitive when considering the overall benefits of living in this well-regarded community.
Cary offers a high quality of life with a cost of living that reflects its growing popularity and desirability. From housing and utilities to transportation and healthcare, understanding these costs will help you plan effectively if you’re considering a move to Cary, NC. As you prepare for your relocation, trust No Sweat Services to handle the logistics of your move, so you can focus on making Cary your new home. Contact us today for a free moving quote and let us help you get settled in this vibrant community.