Cost of Living in Wake Forest, NC
Population 51,199 · North Carolina · Data vintage 2023
(100 = US avg)
Wake Forest lands reasonably close to national benchmarks on most cost indicators, with a median home value of $435,000 — 43% above the US figure. That makes it a useful reference point for comparing with more extreme markets in North Carolina.
Located 12 miles northeast of Raleigh, Wake Forest falls within that metro's commuting orbit. Median home values run roughly 15% higher than Raleigh's $378,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Wake Forest
The median home value in Wake Forest is $435,000 — 43% above the national median of $305,000. Median rent runs $1,458/month, 11% higher than the national median of $1,314/month. The median household income of $120,777/year is 62% higher than the US median of $74,580. The local unemployment rate is 4.5%, below the national average of 4.8%. North Carolina's top state income tax rate is 4.5% and the combined sales tax is 7.0%. The climate averages highs of 72.0°F and lows of 50.4°F, with about 5.2" of annual snowfall. Overall, Wake Forest has a cost of living index of 130 versus the US average of 100, meaning it is 30% more expensive.
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
🌤 Climate
NOAA 1991–2020 Climate Normals
| Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| High °F | 52 | 56 | 63 | 73 | 80 | 87 | 91 | 89 | 83 | 73 | 63 | 55 |
| Low °F | 32 | 34 | 40 | 49 | 58 | 66 | 70 | 69 | 63 | 50 | 40 | 34 |
| Precip" | 3.43 | 2.78 | 4.10 | 3.53 | 3.38 | 3.89 | 5.02 | 4.71 | 5.15 | 3.37 | 3.32 | 3.39 |
| Snow" | 2.6 | 1.4 | 0.3 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.1 | 0.8 |
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
🏫 Schools
NCES CCD 2019 — public school district data
Frequently Asked Questions
What is the cost of living in Wake Forest, NC?
Wake Forest has a cost index of 130 (100 = national average). It is 30% above the national average.
What is average rent in Wake Forest, NC?
The median gross rent in Wake Forest is $1,458 per month based on 2023 Census data.
What is the average home price in Wake Forest?
The median home value in Wake Forest is $435,000 according to Zillow and Census data.
What is the median income in Wake Forest?
The median household income in Wake Forest is $120,777 per year (2023 ACS 5-year estimates).
What is the sales tax in Wake Forest, NC?
The combined state and local sales tax rate in Wake Forest is 7.0%. The North Carolina state income tax top rate is 4.5%.
Is Wake Forest, NC affordable?
Wake Forest is above average in cost of living, with an index of 130 — about 30% higher than the national average.
What is the weather like in Wake Forest?
Wake Forest has average high temperatures of 72.0°F and average lows of 50.4°F. Annual precipitation is 46.1". Average annual snowfall is 5.2". Data from NOAA 1991–2020 Climate Normals.
Wake Forest at a Glance
- Population
- 51,199
- Median Income
- $120,777
- Home Value
- $435,000
- Median Rent
- $1,458/mo
- Unemployment
- 4.5%
- Avg High Temp
- 72.0°F
- Sales Tax
- 7.0%
Nearby Cities
Explore county-level cost of living data
North Carolina Rankings
Similar Cost Cities
Cities in other states with comparable housing costs