eNewsletter - July 2007

Featured Article:
by Michael Mclaughlin

Cary ‘s borders bulge as more find nirvana within city limits

Cary, NC, United States, 7/13/2007 - Across the county, residents disenchanted with their local housing markets are noticing the grass growing greener in Cary, NC. According to the new census figures for last year*, Cary grew by 5,451 residents (a 5.1% increase), making it the 1st fastest growing city in North Carolina and 8th in the Nation. To accommodate the influx of families, Wake County has opened 7 brand new schools for 2007 and has encouraged more year-round schedules to better utilize classroom space.

Cary, listed in Money Magazine’s Top 5 places to live, attracts new residents for several reasons: Excellent public schools, affordable housing, reasonable taxes, a strong job market, low crime, a mild climate and, last but not least, genuinely friendly people!

While many national housing markets have take a rollercoaster ride, home prices in the Cary area have appreciated slowly and steadily (Averaging 3% to 8% over the last 6 years). In the suburbs of Washington DC, for example, a half a million dollars buys a 1200sqft fixer-upper. Those same buckeroonies spent in Cary purchases a brand new 3,200 sqft dream home.

Unlike the much of the northeast, taxes and insurance are very reasonable. Using the median Cary home price of $256,900, property taxes are roughly $2,500/year and insurance is around $500/year. This alone inspires many homeowners in New York and New Jersey to start whistling Dixie, as they pay obscenely high taxes that, in many cases, rival or exceed their home’s principal and interest payment.

The Job Market in Cary is healthy and lucrative. Major centers for employment are in neighboring Raleigh, the State Capitol, and the Research Triangle Park (RTP), the largest research park in the world. Forbes magazine recently voted the Raleigh area the #1 city in the nation for Business and Careers. With the good paying jobs and the reasonable home prices, Cary has one of the best housing affordability indexes in the nation.

Cary, North Carolina is the seventh safest city in the whole county. Perhaps the Bible belt’s religious influence or perhaps the triangles distinction of having more PhD’s per capita. Either way, families feel safe in Cary’s streets and parks. Cary is part of the much celebrated Wake County Public School system and many of the top performing schools server Cary’s neighborhoods.

Drawn by the mild climate and high quality of life, retirees are moving to the area in increasing numbers. Currently the third most popular retirement destination, NARA’s study shows that North Carolina is projected to overtake Florida as the number one retirement state over the next 10 years."

With Rex, Wake and Duke Hospitals close by residents enjoy some of the finest health care in the nation. And lastly, most are quite fond of the weather here. While summers are hot and humid, winters are mild and spring and fall are long and lovely.

* Census date from the July 2005 to July 2006 sampling period

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