Wake Forest town, North Carolina
CityPopulation: 51,199 (2023 estimate)
Located in North Carolina , North Carolina
Census Bureau data for Wake Forest town from the American Community Survey. "Cities" in Census data include incorporated places, towns, villages, and census-designated places (CDPs) — all places where the Census collects community-level estimates.
Data: U.S. Census Bureau, ACS 5-Year Estimates, 2023 (released December 2024).
Quick Facts — Wake Forest town
- What is the median household income in Wake Forest town?
- The median household income in Wake Forest town is $120,777 (U.S. Census Bureau ACS 5-Year Estimates, 2023).
- What is the poverty rate in Wake Forest town?
- The poverty rate in Wake Forest town is 1.7% (U.S. Census Bureau ACS 2023).
- What is the median home value in Wake Forest town?
- $435,000 (U.S. Census Bureau ACS 2023).
- What is the average rent in Wake Forest town?
- The median gross rent in Wake Forest town is $1,458 per month (U.S. Census Bureau ACS 2023).
- What percentage of Wake Forest town residents have a college degree?
- 57.8% of adults in Wake Forest town hold a bachelor's degree or higher (U.S. Census Bureau ACS 2023).
Population
51,199
Median Income
$120,777
Median Home Value
$435,000
Poverty Rate
1.7%
Unemployment (ACS 2023)
4.5%
Median Age
38.0 yrs
Since 2019
Median Income:
+$28,567 (+31%)
Home Value:
+$137,700 (+46.3%)
Poverty Rate:
-2.2 pp (-56.4%)
Bachelor's+:
+3.2 pp (+5.9%)
Unemployment:
+0.6 pp (+15.4%)
Demographics
Total Population
51,199
Median Age
38.0
Female
51.5%
Race & Ethnicity
Hispanic or Latino 7.8%
White (non-Hisp.) 65.6%
Black 19.8%
Asian 2.4%
Two or More 7.7%
Other 2.7%
Asian Subgroups (% of total pop.)
Indian
0.7%
Korean
0.7%
Vietnamese
0.3%
Filipino
0.2%
Chinese
0.1%
Hispanic Subgroups (% of total pop.)
Mexican
2.5%
Puerto Rican
2.3%
Cuban
0.5%
Source: U.S. Census Bureau, ACS 5-Year Estimates, 2023
Income & Poverty
Median Household Income
$120,777
±$4,710
+$50,873 vs. state
Per Capita Income
$138,552
Median Family Income
$135,641
Poverty Rate
1.7%
-7.7 pp vs. state
Child Poverty Rate
2.2%
Working-Age Poverty Rate
—
SNAP Recipients
5.7%
Social Security Income
—
Retirement Income
25.6%
Household Income Distribution
< $10k
1.3%
$10–15k
0.9%
$15–25k
4.1%
$25–35k
3.0%
$35–50k
5.5%
$50–75k
15.7%
$75–100k
10.6%
$100–150k
21.2%
$150–200k
15.4%
$200k+
22.2%
Source: U.S. Census Bureau, ACS 5-Year Estimates, 2023
Housing
Total Housing Units
18,824
Owner-Occupied
74.7%
Renter-Occupied
25.3%
Vacancy Rate
5.1%
Median Home Value
$435,000
+$175,600 vs. state
Median Gross Rent
$1,458
Owner Cost Burden (30%+)
14.3%
Renter Cost Burden (30%+)
30.8%
Home Value Distribution
< $50k
1.5%
$50–100k
1.4%
$100–200k
0.9%
$200–300k
12.2%
$300–500k
50.3%
$500k–$1M
29.1%
$1M+
2.1%
Gross Rent Distribution
< $500
2.9%
$500–1k
7.8%
$1–1.5k
41.2%
$1.5–2k
31.3%
$2–2.5k
6.1%
$2.5–3.5k
6.2%
$3.5k+
4.5%
Vehicle Availability
No vehicle
3.0%
1 vehicle
25.1%
2 vehicles
49.8%
3+
22.2%
Housing Type
Single-fam. det.
68.1%
Single-fam. att.
10.9%
2–4 units
2.4%
5–19 units
4.7%
20+ units
6.7%
Mobile home
1.7%
Housing Age
Pre-1940
1.6%
1940–1969
0.8%
1970–1999
3.1%
2000–2009
30.9%
2010+
37.0%
Source: U.S. Census Bureau, ACS 5-Year Estimates, 2023
Education
High School or Higher
95.8%
Bachelor's or Higher
57.8%
+23.1 pp vs. state
Graduate Degree
22.6%
Some College / Associate
15.4%
Less Than High School
1.3%
Enrolled in School
—
Source: U.S. Census Bureau, ACS 5-Year Estimates, 2023
Employment
Labor Force Participation
68.7%
Unemployment Rate
4.5%
-0.3 pp vs. state
Work from Home
25.1%
Self-Employed
4.9%
Government Workers
17.7%
Private For-Profit
77.2%
Industry
Edu/Health
27.6%
Prof. Services
17.9%
Retail
12.6%
Manufacturing
10.1%
Finance
7.1%
Public Admin
5.5%
Transportation
4.4%
Arts/Entmt.
3.8%
Construction
3.4%
Wholesale
1.6%
Information
1.5%
Agriculture
0.4%
Occupation
Management
62.2%
Sales
19.4%
Food Prep
8.9%
Production
6.8%
Construction
2.7%
Source: U.S. Census Bureau, ACS 5-Year Estimates, 2023
Commute
Median Travel Time
30.9 min
Drove Alone
68.5%
Carpool
4.5%
Public Transit
0.1%
Work from Home
25.1%
Walked
0.9%
Bicycle
—
Source: U.S. Census Bureau, ACS 5-Year Estimates, 2023
Households & Families
Total Households
17,863
Avg. Household Size
2.00
Avg. Family Size
—
Married-Couple Households
61.0%
Single-Mother Households
—
Single-Father Households
—
Living Alone
—
Households with Children
29.1%
Multigenerational
—
Source: U.S. Census Bureau, ACS 5-Year Estimates, 2023
Age Distribution
Under 5
7.0%
5–9
7.1%
10–14
7.7%
15–19
7.8%
20–24
4.0%
25–34
11.9%
35–44
15.2%
45–54
16.3%
55–64
5.5%
65–74
4.2%
75–84
7.8%
85+
4.6%
Under 18: 27.1%
Working age (18–64): 72.9%
65 and over: 13.4%
Source: U.S. Census Bureau, ACS 5-Year Estimates, 2023
Social Characteristics
Immigration
Foreign Born
7.8%
Naturalized Citizen
64.8%
Speaks English Less Than Very Well
1.9%
Foreign-Born Origin
Latin America
28.9%
Asia
26.7%
Europe
20.1%
Africa
12.9%
Veterans & Disability
Veteran
8.2%
With a Disability
9.3%
Cognitive Difficulty
—
Ambulatory Difficulty
—
Health Insurance
Insured
94.3%
Uninsured
5.7%
Employer Insurance
—
Medicaid
—
Medicare
—
Technology & Mobility
Broadband Internet
97.4%
Has a Computer
97.9%
Same House 1 Year Ago
82.3%
Moved from Abroad
1.3%
Source: U.S. Census Bureau, ACS 5-Year Estimates, 2023