Wake Forest, NC Profile: Facts & Data

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Wake Forest, North Carolina - Basic Facts

The Town of Wake Forest had a population of 43,618 as of July 1, 2019. Wake Forest ranks in the upper quartile for Population Density when compared to the other cities, towns and Census Designated Places (CDPs) in North Carolina. See peer rankings below.

The primary coordinate point for Wake Forest is located at latitude 35.9799 and longitude -78.5097 in Wake County. The formal boundaries for the Town of Wake Forest encompass a land area of 15.35 sq. miles and a water area of 0.12 sq. miles. Wake County is in the Eastern time zone (GMT -5). The elevation is 390 feet.

While the primary coordinates for Town of Wake Forest are located in Wake County, it should be noted that the formal boundaries for this community also extend into and Franklin County.

The Town of Wake Forest (GNIS ID: 2406816) has a C1 Census Class Code which indicates an active incorporated place that does not serve as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

The Town of Wake Forest is located within Township of Wake Forest, a minor civil division (MCD) of Wake County.

Alternate Unofficial Names for Wake Forest: Town of Wake Forest College.

Jump to... (On This Page!)
  1. Wake Forest 2019 Demographic Data
  2. Growth Rates for Wake Forest (Historical & 5-Year Forecast)
  3. Peer Comparisons (Rank and Percentile)
  1. Neighborhoods Demographics (Home Values, Household Income, etc.)
  2. North Carolina Research Tools (Easy Tools & Current Data)
  3. North Carolina Data Comparison Tool - 2019 Demographics

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Wake Forest, NC Data & Demographics (As of July 1, 2019)

HOUSING AFFORDABILITY INDEX

Wake Forest, NC Housing Affordability Index is 148
State of North Carolina Housing Affordability Index is 140
The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.

WEALTH INDEX

Wake Forest, NC Wealth Index is 112
State of North Carolina Wealth Index is 84
The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.

These new demographic attributes are availiable for Neighborhoods, Cities, Counties, and ZIP Codes.

More Tools and Resources:

  1. For information about schools and school attendance zones, use the HTL Address Tool
  2. Our new HTL Neighborhood Explorer provides lots of detail about any neighborhood.
  3. The new 2-Minute Introduction and Concise Guide to Big Data which will help you make the most effective use of HomeTownLocator Tools.
  4. See the References & Data Sources page for more information about methodology and sources of data.
  5. See the North Carolina COVID-19 Data and US COVID-19 Data for more information on the spread of the novel coronavirus.

POPULATION

Total Population 43,618 (100%)
Population in Households 43,323 (99.3%)
Population in Families 37,649 (86.3%)
Population in Group Quarters1 295 ( 0.7%)
Population Density 2,661
Diversity Index2 49
 

INCOME

Median Household Income $84,175
Average Household Income $102,506
Per Capita Income $37,049
Wealth Index4 112

HOUSING

Total Housing Units 16,278 (100%)
Owner Occupied HU 11,282 (69.3%)
Renter Occupied HU 3,954 (24.3%)
Vacant Housing Units 1,043 ( 6.4%)
Median Home Value $291,696
Housing Affordability Index3 148
 

HOUSEHOLDS

Total Households 15,235
Average Household Size 2.84
Family Households 11,207
Average Family Size 3
NOTES
  1. Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
  2. The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different race or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
  3. The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
  4. The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.

GROWTH RATE / YEAR

2010-2019 2019-2024
Population 4.06% 3.07%
Households 4.06% 3.04%
Families 3.6% 2.95%
Median Household Income   3.53%
Per Capita Income   2.89%

Wake Forest, NC - Peer Comparisons by Rank and Percentile

The table below compares Wake Forest to the other 739 incorporated cities, towns and CDPs in North Carolina by rank and percentile using July 1, 2019 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

Variable Description Rank Percentile
Total Population # 23 97th
Population Density # 11 99th
Diversity Index # 366 51st
Median Household Income # 38 95th
Per Capita Income # 96 87th

Additional comparisons and rankings can be made with a VERY EASY TO USE North Carolina Census Data Comparison Tool.

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