Cost of Living in Wake Forest, NC
Population 52,844 · Census ACS 2020–2024 5-year estimates
The median rent in Wake Forest, NC is $1,596/month, 30% higher than the North Carolina median and 13% higher than the U.S. median. The median home value is $474,500, 43% higher than the national median. Households earn a median of $123,802 a year, 71% higher than the state median.
Affordability
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Wake Forest vs. North Carolina vs. U.S.
| Wake Forest | North Carolina | U.S. | |
|---|---|---|---|
| Median rent | $1,596 | $1,228 | $1,413 |
| Median home value | $474,500 | $288,900 | $332,700 |
| Median household income | $123,802 | $72,388 | $80,734 |
| Homeownership rate | 74.0% | 66.6% | 65.2% |
| Bachelor's degree or higher | 59.5% | 35.7% | 35.7% |
| Poverty rate | 4.5% | 13.0% | 12.5% |
| Unemployment rate | 4.0% | 4.7% | 5.2% |
| Work from home | 28.7% | 16.3% | 15.1% |
| Median age | 38.6 | 39.1 | 38.9 |
FAQ
What is the average rent in Wake Forest, NC?
The median gross rent in Wake Forest, NC is $1,596 per month (ACS 2020–2024 5-year estimate).
How much do I need to earn to live in Wake Forest, NC?
Using the common 30% rule, renting a median-priced home takes about $63,840 a year in gross income.
Is Wake Forest, NC expensive to live in?
Rent there is 13% higher than the U.S. median, and the median home costs about 3.8 times the median household income.
Other cities in North Carolina
Cities with a similar cost of living
Source: U.S. Census Bureau, American Community Survey 5-year estimates. Estimates have margins of error, especially for smaller places. This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
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