Living in Wake Forest, North Carolina
Cost of living, income, home prices, rent and demographics of Wake Forest · Census data 2020–2024
Wake Forest has 52,844 residents with a median age of 38.6. The median household income is $123,802 (71% higher than the North Carolina median), the median home value is $474,500, the median rent is $1,596/month.
Wake Forest at a glance
- Population
- 52,844
- Median age
- 38.6State: 39.1
- Median household income
- $123,802State: $72,388
- Median home value
- $474,500State: $288,900
- Median rent
- $1,596/moState: $1,228
- Homeowners
- 74%
- Bachelor's degree or higher
- 59.5%
- Average commute
- 31 min
Is Wake Forest a good place to live?
Pros: Median household income 71% higher than the North Carolina median; unemployment of 4%; a poverty rate of 4.5%.
Cons: Home values 64% higher than the state median; an average commute of 31 minutes.
The weather is best in April–May and September–October.
Cost of living in Wake Forest
Housing is the biggest part of the cost of living. In Wake Forest the median home value is $474,500, 43% higher than the U.S. median. Renters pay a median of $1,596 per month, which is 27.7% of household income. Homeowners with a mortgage pay $2,272 a month in housing costs.
Wake Forest median household income
The median household income in Wake Forest is $123,802 and the income per person is $51,709. 4.5% of residents live below the poverty line (North Carolina: 13%).
Housing in Wake Forest: homes for sale and rent
- Housing units
- 19,428
- Owner-occupied
- 74%
- Renter-occupied
- 26%
- Vacant
- 5.3%Includes seasonal homes
- Median year built
- 2009
- Average household size
- 2.81
Wake Forest demographics
- Population
- 52,844
- Median age
- 38.6
- Under 18
- 26.5%
- 65 and older
- 12.8%
- Households
- 18,403
- Foreign-born
- 9.5%
- Veterans
- 7.7%Adults 18+
Hispanic or Latino can be of any race. Population history of Wake Forest ›
Education in Wake Forest
59.5% of adults 25 and older in Wake Forest have a bachelor's degree or higher (North Carolina: 35.7%), and 23.7% have a graduate or professional degree.
Jobs and commute in Wake Forest
- Unemployment rate
- 4%State: 4.7%
- Average commute
- 31 minState: 25 min
- Work from home
- 28.7%
- Drive alone
- 64.5%
- Public transit
- 0%
- Walk to work
- 1.1%
- Homes with broadband
- 97.8%
Wake Forest vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Wake Forest | 52,844 | $123,802 | $474,500 | $1,596 |
| Rolesville | 10,766 | $149,565 | $535,000 | $1,085 |
| Youngsville | 3,011 | $86,528 | $434,100 | $1,239 |
| Franklinton | 2,645 | $59,464 | $249,100 | $963 |
| Raleigh | 481,031 | $85,395 | $415,800 | $1,572 |
| Knightdale | 20,214 | $103,220 | $380,100 | $1,674 |
| Wendell | 13,064 | $95,787 | $330,500 | $1,457 |
| Zebulon | 8,711 | $79,112 | $320,700 | $1,109 |
| Creedmoor | 4,997 | $82,961 | $281,400 | $1,065 |
More for people moving to Wake Forest
Wake Forest ZIP code ›Weather and climate ›Living in Wake Forest: FAQ
What is the median household income in Wake Forest, NC?
The median household income in Wake Forest is $123,802, 71% higher than the North Carolina median of $72,388 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Wake Forest?
The median home value in Wake Forest is $474,500, compared with $288,900 in North Carolina.
How much is rent in Wake Forest?
The median gross rent in Wake Forest is $1,596 per month, about 27.7% of household income.
Is Wake Forest, NC a good place to live?
Pluses: median household income 71% higher than the North Carolina median; unemployment of 4%; a poverty rate of 4.5%. Minuses: home values 64% higher than the state median; an average commute of 31 minutes.
What is the median age in Wake Forest?
The median age in Wake Forest is 38.6 years (North Carolina: 39.1).
How long is the commute in Wake Forest?
The average commute to work in Wake Forest is 31 minutes; 28.7% of workers work from home.
What is the unemployment rate in Wake Forest?
The unemployment rate in Wake Forest is 4% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Wake Forest?
59.5% of adults in Wake Forest have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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