The striker impressed in his debut season in the Welsh capital, scoring 21 goals in 38 league appearances, leading to talk of a summer move to Hull.
But McCormack fears Cardiff's £5million valuation may prove a stumbling block.
The 22-year-old told the Hull Daily Mail: "I would probably say £5million is an over-valuation for someone who has had one season in England and done well. I joined for about £100,000, so it's a lot of money.
"I think it's pricing people out of the market, but if a club wants someone enough, they'll pay it."
Hull have struggled to attract players this summer with Michael Owen, Bobby Zamora and Daryl Murphy all rejecting the chance to join Phil Brown's men but McCormack would relish a move to the KC Stadium.
"I would definitely be interested, Hull are in the Premier League," he added.
"When you're a young boy all you want to do is play in the Premier League, so if a club wants to give you that chance then it would be hard to turn down.
"My agent said there had been interest from Hull but neither the chairman nor the manager have said anything.
"As far as I'm concerned nobody has come in for me, unless Cardiff are holding things back.
"If a team did come in for me then I would have to make a quick decision."