Monthly All-In Cost
Ownership Cost — The Courtyards at West Cary (2026)
HOA fee~$380/mo
Wake County property tax (~0.77%)~$3,465–$5,005/yr on $450K–$650K home
Homeowners insurance (inland NC)~\$1,200–\$1,700/yr
Utilities (4 seasons)~\$2,200–\$3,000/yr
Wake County Property Tax
North Carolina assesses at 100% of market value. Wake County's effective rate is approximately ~0.77%. On a \$450,000 home: approximately \$3,465/year before any exclusions. NC revalues on a county-specific cycle — verify the most recent revaluation year with the Wake County assessor before closing.
NC 65+ Elderly Exclusion — file AV-9 annually by June 1Reduces the taxable assessed value for qualifying homeowners 65+ who meet income thresholds (currently ~\$33,800). File with Wake County assessor. This benefit directly reduces your annual property tax bill and must be renewed each year.
NC Retirement Income Tax Advantages
No NC tax on Social Security. Residents 65+ receive a \$35,000 retirement income deduction. Bailey Act permanently exempts qualifying federal/state pensions. Inland NC homeowners insurance runs \$1,200–\$1,800/year — \$2,000–\$5,000 less annually than comparable coastal properties in NC, SC, or Florida.