Cary Home Prices: $619K, Down 1.1% — 4 ZIPs Analyzed (2026)

$619,301. That’s what a typical home costs in Cary, NC right now — and it’s actually less than it was a year ago. Prices have slipped 1.1% year over year, part of a steady downward drift visible in every month of the past year. For buyers who’ve been priced out of the Raleigh-Cary metro, the question is whether this dip has legs.

Quick answer: The average home price in Cary, NC is $619,301 as of February 2026, down 1.1% year over year according to Zillow.

Current Home Prices in Cary

The $619K median puts Cary well above the national average and above most other cities in North Carolina. But that number hides a wide range. The gap between the cheapest and most expensive ZIP codes in Cary is nearly $238,000 — enough to buy a house outright in many parts of the state.

The 1.1% year-over-year decline is modest. It doesn’t signal a crash. What it signals is a market that peaked and is slowly cooling. Buyers who waited out the 2023–2024 highs are now looking at prices roughly $7,000 lower than they were 12 months ago.

For context, the 12-month high across Cary’s ZIPs hit $728,329, while the low sat at $490,460. That range hasn’t compressed much over time, meaning the most expensive pockets of Cary aren’t dropping any faster than the affordable ones.

Cary Home Prices by Neighborhood

Most Expensive

27518 leads Cary at $728,329 — roughly 18% above the city median, yet its rent is a relatively low $1,488, suggesting owner-occupied homes dominate. 27519 follows at $701,153 with the highest rents in Cary at $1,880, pointing to strong demand from both buyers and renters in that area.

Most Affordable

27511 is Cary’s entry point at $490,460, about $129,000 below the city average. Despite being the cheapest ZIP to buy, its rent of $1,584 actually exceeds what renters pay in 27518 or 27513. 27513 sits in the middle at $557,261 with the lowest rent in the city at $1,461 — the most affordable ZIP for renters.

Rent vs Buy in Cary

Renting is cheaper than buying in every Cary ZIP code right now, and it’s not close.

*Estimated mortgage assumes 20% down, 6.8% rate, 30-year fixed — principal and interest only. Does not include taxes, insurance, or HOA.

The gap is stark. Even in the most affordable ZIP (27511), buying costs roughly $1,300 more per month than renting. In 27518, the spread balloons to $2,800. You’d pay nearly three times the rent to own.

That math doesn’t mean renting always wins. Equity, tax benefits, and long-term appreciation matter. But if you’re deciding purely on monthly cash flow in 2026, the numbers favor renting in Cary by a wide margin.

One oddity in the data: 27518 has the highest home prices but the second-lowest rents. That disconnect suggests the rental stock there may be limited — or that renters in that ZIP get significantly less space than owners.

Population Growth and Migration

Cary’s population reached 182,659 in 2024, up 4.5% from 174,803 in 2020.

Growth has been steady but not explosive. The biggest single-year jump came between 2021 and 2022, when the city added 3,448 residents. Since then, the pace has slowed — only 1,454 new residents in the most recent year.

Compared to other North Carolina cities, Cary’s 4.5% growth rate is actually the slowest:

Cary is still gaining residents. But it’s growing at roughly half the rate of its neighbors. That slower growth helps explain the softening home prices — demand isn’t surging the way it is in Raleigh or Charlotte.

Cary Housing Market Trends

Here’s the month-by-month picture over the past year:

The trend is down every single month. From the March 2025 peak of $626,136 to February 2026’s $619,301, the median dropped $6,835. That’s a 1.1% decline spread evenly across the year — no sudden drops, no sharp reversals.

The floor keeps drifting lower too. The cheapest ZIP went from $501,734 in March 2025 to $490,460 in February 2026, a decline of $11,274 or 2.2%. Affordable areas are softening faster than expensive ones.

Meanwhile, the ceiling has risen slightly. The most expensive ZIP moved from $725,495 to $728,329. The premium end of Cary is holding value while the lower end gives ground.

Is Cary a Good Place to Buy in 2026?

The data points to a buyer-friendly moment — at least compared to recent years.

Prices are declining, and they’ve done so for 12 consecutive months. That gives you negotiating room. Sellers can see the same trendline you can. The 1.1% annual decline isn’t steep enough to suggest a falling knife, but it’s consistent enough to signal the market has shifted.

The rent-vs-buy math still favors renting on a pure monthly basis. If you’re buying, you’re betting on long-term appreciation and equity building. Given that Cary’s population is still growing (even if slowly) and sits in the strong Raleigh-Cary metro, that bet has reasonable fundamentals behind it.

If you’re looking at the affordable end, 27511 at $490K offers a way into Cary at well below the city median. If your budget stretches further, 27513 pairs moderate prices with the lowest rents in the city.

Cary Housing Market Outlook for 2026-2027

The 12-month trend shows a remarkably steady slide — roughly $500–$600 per month of decline. There’s no acceleration in either direction. No month broke the pattern.

If the current pace continues through 2026, you’d be looking at a median somewhere in the $615K–$618K range by late summer. That’s not a meaningful drop for most buyers, but it does suggest there’s no urgency to lock in a price today.

The one signal worth watching: the decline in the cheaper ZIPs is steeper than the citywide average. If you’re targeting 27511 or 27513, prices may soften faster than the headline number suggests.

Nothing in this data points to a sudden rebound. The slow bleed could continue into 2027 unless interest rates shift or migration patterns change.

Similar Markets in NC

If you’re considering Cary, these nearby markets are worth comparing:

• Raleigh — Cary’s neighbor and the state capital, with more inventory and a wider price range.
• Durham — The other corner of the Triangle, typically priced below Cary with a different housing mix.
• Charlotte — North Carolina’s largest city offers more options at various price points.
• Apex — Cary’s immediate neighbor to the southwest, often compared directly by buyers in the area.
• Asheville — A different market entirely, but popular with Triangle residents looking for mountain-area homes.

Frequently Asked Questions

What is the average home price in Cary?

The median home value in Cary is $619,301 as of February 2026. Prices range from $490,460 in ZIP 27511 to $728,329 in ZIP 27518. The citywide number represents a smoothed average across all four tracked ZIP codes.

Are home prices going up or down in Cary?

Down. Prices have fallen 1.1% over the past year, declining every single month since March 2025. The drop has been gradual — about $570 per month on average — not a sharp correction.

Is it cheaper to rent or buy in Cary?

Renting is significantly cheaper on a monthly basis. The median rent across Cary’s ZIP codes ranges from $1,461 to $1,880. A mortgage payment on the median home (20% down, 6.8% rate) would run approximately $3,200–$4,300 per month before taxes and insurance. The gap is $1,300 to $2,800 per month depending on the neighborhood.

What is the most affordable neighborhood in Cary?

ZIP code 27511 has the lowest median home value at $490,460, about $129,000 below the city average. It’s the only Cary ZIP priced under $500,000. For renters, ZIP 27513 offers the lowest median rent at $1,461 per month.

Methodology

Home values are based on the Zillow Home Value Index (ZHVI), a smoothed measure of typical home values in the 35th to 65th percentile range. Rent estimates use the Zillow Observed Rent Index (ZORI). Population figures come from the U.S. Census Bureau Population Estimates Program (2020-2024 vintage). All datasets are publicly available. Housing data updated 2026-02-28.