Wake Forest

Population: 51,199
Median household income: $120,777
Median home value: $435,000

Wake Forest is a community in Wake County, North Carolina, home to 51,199 residents. Its median household income of $120,777 runs above the Wake County figure of $101,763.

Between 2019 and 2023, Wake Forest's population grew 21.6% from 42,111 to 51,199, while its median home value rose 46.3% from $297,300 to $435,000.

57.8% of adults 25 and older hold a bachelor's degree or higher. Owners occupy 74.7% of the area's occupied homes.

Demographics

ACS 2019–2023

Population: 51,199
Median age: 38.8 yrs
Median household income: $120,777
Median home value: $435,000
Median gross rent: $1,458
Housing units: 18,824
Homeownership rate: 74.7%
Bachelor's degree or higher: 57.8%
Unemployment rate: 4.5%

Trends

ACS 5-year · 2019–2023

Population

42,11151,199

Median household income

$92,210$120,777

Median home value

$297,300$435,000

Median gross rent

$1,117$1,458

Year	Population	Median household income	Median home value	Median gross rent
2019	42,111	$92,210	$297,300	$1,117
2020	44,068	$100,162	$314,200	$1,190
2021	46,387	$104,006	$328,200	$1,277
2022	48,047	$115,159	$397,300	$1,354
2023	51,199	$120,777	$435,000	$1,458

Each year is a US Census Bureau ACS 5-year estimate ending that year.

Age distribution

Under 57.0%

5 to 1720.1%

18 to 246.5%

25 to 3411.9%

35 to 4415.2%

45 to 5416.3%

55 to 649.7%

65 to 747.8%

75 and over5.6%

	Count	Share
Under 5	3,586	7.0%
5 to 17	10,279	20.1%
18 to 24	3,311	6.5%
25 to 34	6,097	11.9%
35 to 44	7,761	15.2%
45 to 54	8,331	16.3%
55 to 64	4,967	9.7%
65 to 74	4,013	7.8%
75 and over	2,854	5.6%

Race & ethnicity

	Count	Share
White (non-Hispanic)	33,590	65.6%
Black or African American	10,104	19.7%
American Indian & Alaska Native	34	0.1%
Asian	1,227	2.4%
Native Hawaiian & Pacific Islander	7	0.0%
Some other race	138	0.3%
Two or more races	2,104	4.1%
Hispanic or Latino (any race)	3,995	7.8%

Educational attainment (age 25+)

No high school diploma4.2%

High school graduate13.2%

Some college or associate's24.8%

Bachelor's degree35.3%

Graduate or professional degree22.6%

	Count	Share
No high school diploma	1,435	4.2%
High school graduate	4,485	13.2%
Some college or associate's	8,421	24.8%
Bachelor's degree	12,006	35.3%
Graduate or professional degree	7,676	22.6%

Commute to work

Mean travel time to work: 31 min

Drove alone68.5%

Carpooled4.5%

Public transit0.1%

Walked0.9%

Bicycle0.0%

Worked from home25.1%

Other means0.9%

How workers get to work

	Count	Share
Drove alone	17,307	68.5%
Carpooled	1,133	4.5%
Public transit	15	0.1%
Walked	232	0.9%
Bicycle	0	0.0%
Worked from home	6,341	25.1%
Other means	233	0.9%

Travel time

	Count	Share
Under 15 min	3,310	17.5%
15 to 29 min	5,231	27.6%
30 to 44 min	5,751	30.4%
45 to 59 min	2,982	15.8%
60+ min	1,646	8.7%

Households

Average household size: 2.82
Poverty rate: 2.9% (1,480 of 50,241)

	Count	Share
Family households	13,772	77.1%
Nonfamily households	4,091	22.9%

Housing

Median year structure built: 2007

Occupancy

	Count	Share
Occupied	17,863	94.9%
Vacant	961	5.1%

Tenure (of occupied units)

	Count	Share
Owner-occupied	13,342	74.7%
Renter-occupied	4,521	25.3%

1-unit, detached68.1%

1-unit, attached10.9%

2 to 4 units3.7%

5 to 19 units8.9%

20 or more units6.7%

Mobile home & other1.7%

Units in structure

	Count	Share
1-unit, detached	12,810	68.1%
1-unit, attached	2,057	10.9%
2 to 4 units	697	3.7%
5 to 19 units	1,684	8.9%
20 or more units	1,258	6.7%
Mobile home & other	318	1.7%

Geography

Place GEOID: 3770540
Type (LSAD): 43
Land area: 20 sq mi
Water area: 0.15 sq mi
Center point: 35.9644, -78.5133