Overview

Approximately three quarters of Cary residents own their home, a higher proportion than in the county or state. However, homes in Cary typically cost more. Higher prices and the escalating cost of homes in Cary can preclude many people from having the opportunity to live here. Such persons include not only the elderly on fixed incomes, but also those working as retail clerks, service workers, teachers, police, firefighters and other Town positions. See the current  Housing Report and the Population Report.

Looking for an affordable place to buy or rent? See descriptions of home ownership opportunities that the Town of Cary has helped to create.

Background

Cary leaders have sought increases in the amount of affordable housing to promote economic, racial and ethnic diversity while also enlarging the pool of workers for local employers, including Town government.

The Town helps to provide affordable housing within its limits by providing funding assistance to developers and non-profit organizations to build low-cost housing and rental units.

The Town has assisted the Downtown Housing Improvement Corporation (DHIC) in funding family and elderly rental units at Highland Village. Included in this project will be future townhomes and condominiums.

Read more about Senior Housing opportunities in the Town of Cary.

The Town provides a program to help its own employees who are first-time homebuyers or who do not own a home in Cary. The program is called the Employee Homeownership Assistance Program.

Other non-profit programs are also assisted by Cary such as Habitat for Humanity and Rebuilding Together. See the Housing Resources guide for these and other organizations that provide housing assistance.

Healthy Neighborhoods Initiative

While many of the homes and neighborhoods in Cary are well kept and in good condition, some of the homes in the Town’s older neighborhoods are in need of certain improvements. Learn more.

Neighborhood Improvement Grant Program

The Town provides small, matching grants to qualified organizations for neighborhood improvement projects. Grants are typically limited to between $500 and $5,000 on a matching funds basis. Qualified organizations include Neighborhood Associations, Homeowner’s Associations, Community Watch groups or an organized committee of neighborhood residents.

Examples of projects that may be funded include landscaping and tree planting projects, neighborhood signage, playgrounds and environmental improvements such as restoration of watershed facilities, stream banks, ponds or stormwater facilities. Funds may also be awarded to help with the legal expense of forming a neighborhood or homeowner’s association.

Housing Rehabilitation Program

This program is funded through the federal Community Development Block Grant program and provides deferred loans of up to $20,000 each to repair and rehabilitate homes to eligible homeowners, which include seniors, lower income families and disabled persons. These deferred loans become grants after five years when certain conditions are satisfied.

Typical repairs eligible for funding include replacement of roofs, heating and air conditioning systems, electrical and plumbing problems and handicapped ramps.

Contact

For more information on affordable housing contact:

Town Homepage