Wake Forest, NC
Population 51,199 · North Carolina
About Wake Forest, NC
Wake Forest is a mid-sized city in North Carolina with a population of 51,199 residents. The median household income is $120,777 per year, which is above the national average. The median age in Wake Forest is 38.8 years.
Housing in Wake Forest has a median home value of $435,000 and median monthly rent of $1,458. Of the 18,824 total housing units, the majority are owner-occupied, with 13,342 owner-occupied and 4,521 renter-occupied units.
The unemployment rate in Wake Forest is 4.5% and the poverty rate is 2.9%. 57.8% of residents hold a bachelor's degree or higher. The average commute time is 30.9 minutes.
How Wake Forest Ranks in North Carolina
Cost of Living in Wake Forest, NC
Compared to national averages, Wake Forest has a median household income of $120,777 (61% above the national median of $75,149). Home values average $435,000, which is 78% above the national median. Monthly rent at $1,458 is 25% above the US average of $1,163. Within North Carolina, Wake Forest's income is 87% above the state average of $64,468, and home values are 90% above the state median of $228,922.
Why Live in Wake Forest, NC?
Wake Forest offers a strong local economy with a median household income of $120,777, well above the national average, and a well-educated community where 57.8% of residents hold a bachelor’s degree or higher, and a low poverty rate of 2.9%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $435,000. However, as a mid-sized city, Wake Forest provides access to a wide range of amenities and services.
Wake Forest has a population of 51,199 with a median age of 38.8 years. Compare Wake Forest with other cities to see how it stacks up, or explore all cities in North Carolina.
Similar Cities Near Wake Forest
Cities in North Carolina with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Mooresville | 51,447 | $88,592 | $348,500 | Compare |
| Rocky Mount | 54,175 | $52,927 | $148,300 | Compare |
| Wilson | 47,740 | $47,294 | $192,000 | Compare |
| Kannapolis | 56,470 | $70,691 | $245,500 | Compare |
| Burlington | 58,599 | $54,941 | $188,700 | Compare |
| Hickory | 43,747 | $63,361 | $248,300 | Compare |
| Holly Springs | 43,429 | $132,435 | $485,500 | Compare |
| Chapel Hill | 59,889 | $85,825 | $576,500 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in North Carolina
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Wake Forest
What is the population of Wake Forest, NC?
The population of Wake Forest, NC is 51,199 according to the latest Census data.
What is the median household income in Wake Forest?
The median household income in Wake Forest, NC is $120,777 per year.
What is the median home value in Wake Forest?
The median home value in Wake Forest, NC is $435,000.
What is the average rent in Wake Forest?
The median monthly rent in Wake Forest, NC is $1,458.
What is the unemployment rate in Wake Forest?
The unemployment rate in Wake Forest, NC is 4.5%.