F
Overall 13%
Goods & Services 1%
Housing 52%
Date & Last Updated: This data reflects 2019 and was released from C2ER in January, 2020; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
IndexCaryNorth CarolinaNational
Cost of living11395100
Goods & Services101101100
Groceries9498100
Health care105108100
Housing15285100
Transportation8294100
Utilities9998100

Key findings

  • The cost of living in Cary is 19% higher than the North Carolina average
  • The cost of living in Cary is 13% higher than the national average
  • Cary housing is 52% higher than the national average
  • North Carolina general sales tax is 7% lower than the national average
  • North Carolina state income tax is 113% higher than the national average

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Compare Cary, NC Cost of Living

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      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
      Owners$117,239$9,770$2,735$3,518
      Renters$55,177$4,598$1,287$1,655
      The affordability of the housing market in Cary, NC as well as the overall cost of living can be predicted by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Cary homeowners, the median income is $117,239. This indicates that a monthly maximum of $2,735 should be spent by homeowners on all housing related costs. Renters have a median income of $55,177. This indicates that renters would have a maximum of $1,287 for their rent related monthly costs.

      North Carolina Sales Tax

      StateGeneral Sales TaxWith Max Surtax
      North Carolina4.75%7.5%

      North Carolina Income Tax

      StateIncome Tax (Low)Income Tax (High)
      North Carolina5.25%5.25%

      Goods & Services

      ItemCaryNational avg.Difference
      Haircut $16.20$17.497.4%
      Beauty Salon $49.00$38.1728.4%
      Toothpaste $2.08$2.3210.4%
      Shampoo $0.89$1.0112.0%
      Movie $10.64$10.720.8%
      Bowling $16.60$13.8619.8%

      Groceries

      ItemCaryNational avg.Difference
      Ground Beef $4.22$3.908.2%
      Fried Chicken $1.03$1.4026.2%
      Milk $1.52$1.9622.5%
      Potatoes $3.69$3.1815.9%
      Pizza $9.71$10.396.6%
      Beer $9.49$9.232.8%

      Health Care

      ItemCaryNational avg.Difference
      Optometrist $99.99$106.346.0%
      Doctor $143.17$115.2524.2%
      Dentist $99.00$98.380.6%
      Ibuprofen $9.23$9.260.3%
      Lipitor $444.00$466.474.8%

      Housing

      ItemCaryNational avg.Difference
      Home Price $309,800.00$184,700.0067.7%
      Avg. Mortgage Payment $1,032.61$1,273.3218.9%
      Apartment Rent $1,084.00$949.0014.2%

      Transportation

      ItemCaryNational avg.Difference
      Gasoline $2.60$2.590.2%
      Tire Balancing $25.99$48.9046.8%

      Utilities

      ItemCaryNational avg.Difference
      All Electricity$167.45$167.600.1%
      Phone $177.09$163.428.4%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City, StatePopulationCost of Living IndexNational Avg.
      Moncure, NC55288-12%
      Garner, NC27,62596-4%
      Durham, NC251,76195-5%
      Fuquay-Varina, NC22,7221011%
      Raleigh, NC441,3261022%
      Cary, NC155,82211313%

      Cities with similar population

      City, StatePopulationCost of Living IndexNational Avg.
      Salinas, CA155,88911717%
      McKinney, TX156,8211022%
      Palmdale, CA156,82311414%
      Hayward, CA154,50714949%
      Fort Collins, CO157,2511099%
      Cary, NC155,82211313%
      Source: The Cary, NC cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2019.