Cost of living in Cary research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Cary is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in North Carolina, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Cary is 114, with 100 being the average.
The cost of living index in Cary is 1.1x higher than the national average.
Cary ranks as the #141 cheapest in North Carolina out of 153.
Cary ranks as the #4,427 cheapest out of 6,412 in the US.
The median home value in Cary is $404,300.
The median income in Cary is $113,782.
According to the most recent data on the cost of living, Cary has an overall cost of living index of 114, which is 1.1x higher than the national index of 100.
Compared to North Carolina, Cary has a cost of living index that's 1.2x higher than North Carolina's index of 95.
The standard of living in Cary ranks as #141 most affordable out of the 153 places we measured in North Carolina. By definition, that implies Cary ranks as the #12 most expensive place in the Tar Heel State.
For more reading on life in Cary, check out:
Six factors go into calculating the cost of living index in Cary. Here is how it fairs on each of the criteria:
The Services index in Cary is 103.
The Groceries index in Cary is 89.
The Health index in Cary is 103.
The Housing index in Cary is 151.
The Transportation index in Cary is 94.
The Utilities index in Cary is 99.
|Living Expense||Cary||North Carolina||National Average|
Housing swings affordability the most between places in North Carolina, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Cary is $404,300.
The Median Rent in Cary is $1,392.
The Median Income in Cary is $113,782.
The Home Value To Income in Cary is 3.6x.
The Rent To Monthly Income in Cary is 0.15x.
|Statistic||Cary||North Carolina||United States|
|Median Home Value||$404,300||$197,500||$244,900|
|Home Value To Income||3.6x||3.3x||3.5x|
|Rent To Monthly Income||0.15x||0.2x||0.2x|
The cost of living varies in the cities and towns around Cary. Here's a quick look at the cost of living in the most populous nearby places:
Raleigh, NC has a cost of living index of 105, 0.9x Cary.
Durham, NC has a cost of living index of 94, 0.8x Cary.
Chapel Hill, NC has a cost of living index of 118, 1.0x Cary.
|City||Population||Cost Of Living||Vs. Cary|
|Chapel Hill, NC||60,920||118||1.0x|
|Holly Springs, NC||40,198||111||1.0x|