Downtown Cary Townhouse Rent Drops by $1k, but Still Almost $5k a Month

The $4,995 rental unit is quite more than the average cost of rent in Cary.

Located on 159 E Park St, this Cary townhouse is in one of the most sought after locations in Cary: smack in the middle of downtown, right next to the library and where the new downtown park is going to be located.

Photo from Zillow

The 3BR townhome dropped by $1,000 from when it was originally listed for rent in July, but the price is still far from affordable for most renters. The current list price for the unit is $4,995.

Cary has experienced the rise in rent and home prices more so than the majority of the country. While there are signs of the market slowing down, the triangle area, especially Cary and parts of Raleigh, is still experiencing higher cost of rent than normal.

And while the cost of rent is higher than normal, the cost for this luxury townhome is much higher than the average rental price of $1,666/month in Cary.

The unit is being sold through Schambs Property Management, and it is the most expensive unit that they have listed. The closest rental that they have in terms of cost of this townhome is a 4BR, 2.5 bathroom single-family house located in northern Raleigh – and it is still more than $2,000 less than this townhome, renting for $2,895/month.

The unit has features that you would expect from such an expensive rental, such as a private garage (for two cars), a rooftop terrace, and an elevator.

You can view the full listing here on Schambs Property Management’s website, or alternatively view their Zillow listing here.

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