As I wrote about in my last post, when my wife and I moved to "Raleigh" from San Diego, we really didn't know all that much about the area.
We had made the decision to pack up the U-haul and move here based more upon the areas geographical location than most of the other factors; we wanted to be far enough north so that it had all four seasons, we wanted it to be fairly close to the moutains and the ocean and we wanted to be within a days drive of our families back in the Mid-west/Mid-south (where we were from).
When we got here after road warrioring it across the country, we were dog tired and in search of a pet friendly hotel that we could utilize as our home base while we tried to figure out where we wanted to live.
Having some Hilton Rewards points to burn we found a pet-friendly Hampton Inn near the corner of Hwy 54 and Interstate 40 (which we found out doesn't really tell anybody much about where we were at because there is more than one corner of Hwy 54 and Interstate 40 in the Raleigh/Durham area), but we were at the one in Cary, North Carolina.
Little did we know that after a few months in North Raleigh, that we were in the town that would become our home.
We ended up in Cary like a lot of people do. That is, once my wife was offered a job in Research Triangle Park (RTP), we went looking for an apartment that we could afford within a reasonable commute to her job.
We found Cary to be a very pleasant place to live and, in relation to the rest of the area, very centrally located! We enjoyed the area so much that when our lease was up, we decided to buy a home in Cary (where we live til today).
So, as with my last post, here are some of the statistics that we might have researched if we had thought about it!
2013 Population (Cary Specific)* 151,088
(Raleigh/Durham/Chapel Hill Metropolitan Statistical Area)* 1,912,729
Population Growth Rate (2013)**** 1.9%
Average Yearly Household Income (2012)* $86,451
Education (Percent of Residents Over 25 Years Old)*
High School Diploma or Higher 95.4%
Bachelors Degree or Higher 61.9%
Graduate Degree or Higher 24.8%
Real Estate Statistics
A search of real estate located in Cary, NC(as of 6/9/2015) revealed the following statistics:**
Average Home Price $492,496
Average Sold Price $375,717
Median Sales Price $295,800
Homes Currently Offered For Sale:
(Stick Built, Single Family Dwelling)
Lowest Priced Home Offered on MLS (as of 6/9/2015) $109,900
Highest Priced Home Offered on MLS (as of 6/9/2015) $4,350,000
Lowest Priced Condo Offered on MLS (as of 6/9/2015) $92,900
Highest Priced Condo Offered on MLS (as of 6/9/2015) $758,000
So, as you can see, Cary, NC has a wide range of homes available in the different price ranges. Compared to the rest of the county, Cary is still very affordable with a cost of living index of 95.7 with the US average being 100.
If you have any questions about buying a home in Cary, North Carolina, please don't hesitate to reach out to me. My bank, Bank of England, offers a wide range of mortgage products including the North Carolina Housing Finance Agency Down Payment Assistance Program, as well as conventional, FHA, VA, USDA and other niche products.
I also have a number of real estate agents that I know that I would be happy to match you up with in the event that you don't already have an agent selected.
While I am employed with Bank of England, this blog and the opinions expressed within (except those contained on an BOE websites linked to) are purely my own and not endorsed by Bank of England or any of it's affiliate entities.
Bank of England is an FDIC regulated, HUD/VA/USDA approved, equal opportunity lender chartered in 1898. It is headquartered in England, Arkansas with offices located in 25 states and able to originate mortgages in all 50 states.
Local North Carolina offices are located in Raleigh and Charlotte.
*Statistics courtesy of City-data.com
**Statistics courtesy of Trulia.com
***Statistics courtesy of Realtor.com
****Statistics courtesy of the Town of Cary