VA at a modest share and FHA at a modest share of Cary originations signal strong military and first-time buyer demand. FHA mortgage insurance premiums are set by HUD and are the same at every lender, so compare FHA lenders on rate, lender fees and points using their Loan Estimates.
Cary, North Carolina: 2026 Market Data
📊 LOCAL MARKET DATA
- Median household income (Cary): $134,905
- Median owner-occupied home value (Census ACS 2020–2024 5-year): $580,200
- FHA loan share: modest
- Conventional loan share: majority
- Median real estate taxes paid by homeowners (Wake County, ACS 2024 5-year): $3,260 a year
Data from U.S. Census Bureau, HMDA
FHA Loans in Cary: 2026 Market Snapshot
If you're shopping for a home in Cary, the numbers paint a useful picture as you weigh your financing options. The median owner-occupied home value in Cary is $580,200 (Census ACS 2020–2024 5-year). FHA loans currently make up a modest share of the local market, while conventional loans dominate the market. That gap tells you that most Cary buyers go conventional, but a meaningful share still turn to FHA financing as part of their plans. When you're estimating your monthly costs, don't forget property taxes. In Wake County, property taxes are worth folding into your calculations early so you're not caught off guard. Wake County homeowners paid a median $3,260 a year in real estate taxes (Census ACS 2024 5-year), about 0.71% of the county's $461,300 median owner-occupied home value in the same survey. As for where to start your search, several established names operate in the area, including Wells Fargo, Truist, and Bank of America. That said, it's smart to gather quotes from more than one source before committing. Rates, fees, and terms can vary, so compare several offers and read the fine print carefully. Taking the time to shop around and ask questions puts you in a stronger position to find financing that genuinely fits your situation here in Cary.
Average Loan Amount in Cary and the Conforming Limit Question
The average (mean) loan amount in Wake County was $396,300 in 2025 (CFPB/FFIEC HMDA). That is comfortably below the conforming and FHA loan ceilings, which removes a headache that plagues buyers in expensive coastal cities. The 2026 FHA limit for a single-family home in Wake County is $541,287 (HUD), well above that median, and the county's 2026 conforming limit is $832,750 (FHFA), so a jumbo loan only comes into play on a loan above $832,750. That breathing room matters because it keeps your options open for the smaller 3.5% down payment FHA allows. The FHA limit only becomes a question on a loan above $541,287; above that, FHA is not available in Wake County and a conventional loan up to $832,750 is the usual route. For the typical buyer financing a starter home or moving up to a mid-range property, the loan amount fits neatly inside standard programs. Talk with your lender about exactly where your target price falls relative to current limits before you fall in love with a listing.
How to Compare Mortgage Lenders in Cary
Federal HMDA data record every mortgage application, but we have not ranked Cary lenders from it, so this guide names no “top” lenders. Rates, fees and service vary from one lender to the next, even on the same loan: request Loan Estimates from at least three lenders — a national bank, a credit union and a local broker — on the same day, and compare the APR, lender fees and points line by line.
