North Carolina · Raleigh-Cary, NC metro area

Buying a home in Cary, North Carolina

In Cary, the median value of owner-occupied homes is $580,200, Wake County's effective property tax rate is 0.71%, a purchase mortgage carried a median $4,888 in total loan costs in 2025, and median gross rent is $1,738 a month.

Data as of : Census ACS 2020-2024, Census Vintage 2024, HMDA 2025, HUD FY 2027. Sources

Cary home costs, fact by fact

About Cary

Cary, North Carolina, is a city with 182,659 residents, and it lies in the Raleigh-Cary, NC metro area, ranked 41st in the country. Wake County has an effective property tax rate (median tax as a share of home value) of 0.71%, and 66.6% of homes are owner-occupied.

Reading the Cary figures

Cary is the top of the range among the North Carolina cities named here: owners estimate $580,200, well above the state's $342,800 and above Raleigh's $415,800, with Durham and Charlotte lower still at $392,800 and $385,700. Greensboro, near $244,800, shows how far the range runs.

Ownership matches that price. Cary has a larger owner share, 66.6%, than Raleigh (50.7%) or Charlotte (51%), and it sits just above Concord's 65.2%. Renters report $1,738 a month, higher than Raleigh's $1,572 or the $1,612 reported in Charlotte, and close to HUD's benchmark of $1,689 for the Raleigh-Cary area.

Wake County's 0.71% rate produces $3,260 a year, a moderate bill given how high the values run, while county homes are valued at $461,300. Loan costs had a median of $4,888 in 2025, but the central band stretched from $3,669 to $8,276, so the final figure depends heavily on the loan. Concord's rent is $1,451 and Wilmington's $1,395, both below Cary's.

Calculate for North Carolina

If you buy

North Carolina state transfer tax

Excise stamp tax on conveyances (G.S. 105 Article 8E): $1 for each $500, or fractional part, of consideration or value (0.2%). Change the price: the amount is recalculated instantly.

Price$342,800
State transfer tax$686
Share of the price0.2% of the price
Who paysThe seller

Default price: the North Carolina median value of owner-occupied homes, $342,800 (Census ACS 2025). Rule: Divide the consideration or value by $500, round up to the next whole unit, multiply by $1. Who pays: By law the transferor (seller) pays the Register of Deeds before the deed is recorded. Buyers and sellers can bargain over costs in the contract. Not included: county and city transfer taxes, recording fees, title insurance and lender charges. North Carolina transfer tax guide · all 50 states.

If you sell

Capital gain and the federal tax on it

Same federal rule in every state: Section 121 of the Internal Revenue Code excludes up to $250,000 of gain on a main home ($500,000 for a married couple filing jointly).

Capital gain$350,000
Section 121 exclusion$250,000 (limit $250,000)
Taxable gain$100,000
Type of gainLong-term (owned over 1 year), 15% chosen
Federal tax on the gain$15,000

Section 121 excludes $250,000; the rest is taxable.

Gain = sale price minus your adjusted basis (purchase price, buying costs and improvements); selling expenses reduce it (IRS Publication 523). Long-term rates for sales in 2026, by taxable income including the gain (IRS Rev. Proc. 2025-32, section 4.03): 0% up to $49,450 single or $98,900 married filing jointly, 15% up to $545,500 single or $613,700 jointly, 20% above. Not included: North Carolina state income tax on the gain (not computed), the net investment income tax, depreciation recapture on a rental or home office, and the reduced exclusion for an early sale. Agent commissions are negotiated and never set by law. Capital gains on a home sale.

Questions about buying a home in Cary

How much is property tax in Cary?

Homeowners in Wake County pay a median $3,260 a year in property tax, 0.71% of the county median home value of $461,300 (Census ACS 2020-2024). Your bill depends on your assessed value and local rates.

What are closing costs on a mortgage in Cary?

Home-purchase mortgages in Wake County carried median total loan costs of $4,888 in 2025; half of the 14,237 loans fell between $3,669 and $8,276 (HMDA). Total loan costs are the lender and settlement-service charges of the Closing Disclosure; transfer taxes and prepaid items come on top.

Is there a transfer tax when you buy a home in Cary?

North Carolina charges a state excise tax on deeds of $1 for each $500, or fraction of $500, of the price or value conveyed, which is $864 on a $431,900 home. The seller owes it and pays the county Register of Deeds before the deed is recorded.

Is it cheaper to rent or buy in Cary?

It depends on your mortgage rate, down payment and how long you stay. As a benchmark, the median value of owner-occupied homes in Cary ($580,200) equals 27.8 years of the median gross rent ($1,738 a month), both from Census ACS 2020-2024.

What natural hazards affect home insurance in Cary?

Across North Carolina, the main hazards for home insurance are flood, wind, hail, earthquake and landslide, and the insurer of last resort is North Carolina Insurance Underwriting Association (NCIUA), also called the Coastal Property Insurance Pool. A standard North Carolina homeowners policy usually does not cover flood, earthquake, mudslide or landslide, and may exclude wind and hail in coastal areas; federal flood insurance covers a building up to $250,000 and contents up to $100,000.

Run your own numbers: rent vs buy calculator · closing costs calculator.

North Carolina rules that apply in Cary

Other large cities in North Carolina

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Sources

North Carolina · All states · Federal guides