salaryRent is higher than in 69% of U.S. cities. A typical house costs about 3.6 years of household income. Commutes are long, about 30.9 minutes each way. It is a highly educated city: 59.5% of adults have a college degree.
How much money do I need?
To rent here comfortably, you should earn about $80,040 a year. That is $38 an hour at a full-time job.
Is rent cheaper than other North Carolina cities?
No. Rent here is more expensive than in most of North Carolina. It is number 140 of 164 cities from cheapest to most expensive.
How much do households earn in Wake Forest?
Share of households by yearly income. 49.0% of households earn $100,000 or more.
Rent by apartment size in Wake Forest
| Size | Wake Forest | U.S. average |
|---|---|---|
| 1 bedroom | $1,388 | $1,324 |
| 2 bedrooms | $1,629 | $1,509 |
| 3 bedrooms | $1,879 | $1,698 |
| 4 bedrooms | $2,823 | $2,098 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Wake Forest overall?
Everyday prices in North Carolina overall are 6% below the U.S. average (index 94.3, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Wake Forest, so the North Carolina figure is shown.
Taxes and bills in Wake Forest
Life in Wake Forest
Is it cheaper to rent or buy in Wake Forest?
Renting is cheaper right now: about $1,291 a month less.
Owning assumes a typical $474,500 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $47,450 for the down payment.
Frequently asked questions
What is the average rent in Wake Forest, NC?
Renting in Wake Forest costs a median of about $2,001 a month in 2026, including utilities. The North Carolina median is $1,496.
How much do I need to make to live in Wake Forest?
To keep rent under 30% of income, you need about $80,040 a year, or $38 an hour at a full-time job.
Is Wake Forest cheap or expensive?
Wake Forest is rated Cheap: rent takes 18.0% of the typical household income of $133,520. It ranks 140th cheapest of 164 North Carolina cities we track.
How much are property taxes in Wake Forest?
The median homeowner in Wake Forest pays $3,853 a year in property taxes, about 0.81% of the median home value.
Is Wake Forest more expensive than the national average?
Overall prices in North Carolina are 6% below the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Wake Forest?
The median home value in Wake Forest is $474,500, about 3.6 times the typical yearly household income.
52,844 people live in Wake Forest. Numbers are typical (middle) values.