How much does it cost to rent in Wake Forest, NC?

As of July 2026, the median monthly rent in Wake Forest, NC is $1,813. This figure is based on aggregated data from public sources and community-submitted rents.

Is Wake Forest cheaper than other North Carolina cities?

Wake Forest is one of the pricier cities in North Carolina, ranking #42 out of 126 cities tracked at $1,813/mo.

When was Wake Forest rent data last updated?

Wake Forest rent data reflects July 2026 and was last refreshed on July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.

City Report · NC

Wake Forest

Name: Average Rent Prices in Wake Forest, NC
Creator: RentDataNow
License: https://rentdatanow.com/terms-of-service

Pop. 52,844·42nd most expensive in North Carolina·Rental market data updated monthly for Wake Forest, NC

Median rent (all units)

$1,813/mo

Year-over-Year

+1.7%

Month-over-Month

+0.9%

vs US Median

-$152

Rising (Monthly)

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Most AffordableMost Expensive

Wake Forest · $1,813

More affordable than 53% of US cities · National median $1,965/mo

Rent Reality Score

71/100

Good value

OverheatedFairGreat value

Rents are 11% below what Wake Forest's 10-year trend predicts — a better deal than its own history suggests.

Actual rent

$1,813/mo

Expected by trend

$2,026/mo

The Rent Reality Score compares today's median rent to where Wake Forest's own long-run trajectory projects it should be. See the full rankings →

Medians by bedroom

Rent by unit size

Studio

$1,560

1 BR

$1,620

2 BR

$1,790

3 BR

$2,230

4 BR+

$2,980

Research median

$1,790/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost

$21,756/yr

At $1,813/mo median

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (1.7% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+1.7% YoY, +0.9% MoM), not inventory.

Rent check

Is your rent fair?

Compare your rent to the local median.

Demographics

Who lives here

Wake Forest, NC is majority owner-occupied, has a large share of families with children, has a median income above the national average, 59.5% of residents hold a bachelor's degree or higher.

Population

52,844

Median income

$123,802

Median age

38.6

Renters

26%

Age distribution

26.5%

19.4%

31.5%

12.8%

Under 1826.5%

18–3419.4%

35–5431.5%

55–649.8%

65+12.8%

Gender

48.2%

51.8%

Male48.2%

Female51.8%

Race & ethnicity

65.6%

19.7%

White65.6%

Black19.7%

Hispanic9%

Asian2.9%

Other2.7%

Education (25+)

12.6%

24.3%

59.5%

No HS diploma3.6%

HS diploma12.6%

Some college24.3%

Bachelor's+59.5%

Housing tenure

74%

26%

Owner74%

Renter26%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Wake Forest, NC has changed in 5 years

Rent

$1,461 → $1,813

up 24.1%

Income

$104,006 → $123,802

up 19.0%

Population

46,387 → 52,844

up 13.9%

Renter share

28.7% → 26%

-2.7 pts

Bachelor's+

55.7% → 59.5%

+3.8 pts

Compared with 2021, rent in Wake Forest, NC has climbed by $352 per month, settling near $1,813 after starting the period at $1,461. Median household income grew from $104,006 to $123,802 between 2021 and 2024, a 19.0% shift. Rent outpaced income growth by roughly 5.1 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. Headcount in the area went from 46,387 to 52,844 between 2021 and 2024, a 13.9% change. About 26% of households rent today, against 28.7% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 55.7% to 59.5%. Taken together, the five-year picture in Wake Forest, NC reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.

Community

Discussions about Wake Forest

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View Wake Forest rent history (2015–2026) →

Salary vs rent

Can you afford rent in Wake Forest on your salary?

At $1,813/mo, how Wake Forest rent compares to typical pay (30% rule).

Registered Nurse

Avg $88,811/yr · Rent = 24.5% income

affordable

Elementary School Teacher

Avg $63,055/yr · Rent = 34.5% income

stretched

Police Officer

Avg $72,634/yr · Rent = 30% income

affordable

Software Developer

Avg $129,823/yr · Rent = 16.8% income

very comfortable

Lawyer

Avg $165,882/yr · Rent = 13.1% income

very comfortable

Firefighter

Avg $59,041/yr · Rent = 36.8% income

stretched

Truck Driver

Avg $53,307/yr · Rent = 40.8% income

rent-burdened

Electrician

Avg $65,706/yr · Rent = 33.1% income

stretched

By apartment size

Wake Forest rent by bedroom count

Median rent for each apartment size in Wake Forest. Click any size for full breakdown.

Local insights

Tips for renters in Wake Forest

About renting in Wake Forest, NC

Last updated: July 20, 2026

The median rent in Wake Forest is $1,813/mo as of July 2026. A studio apartment averages $1,560/mo while a 2-bedroom runs $1,790/mo. One-bedroom apartments average $1,620/mo and 3-bedroom units go for $2,230/mo.

At 18% of local median household income ($123,802/yr), Wake Forest ranks as affordable compared to the national benchmark of 30%. Rents have increased 1.7% over the past year.

FAQ

Frequently asked questions

Is Wake Forest an affordable city for renters?

Wake Forest is considered very affordable for renters. At $1,813/mo, rent takes approximately 18% of the local median household income ($123,802/yr). The standard benchmark is 30%. Wake Forest falls comfortably within that range.

How much income do you need to rent in Wake Forest?

To keep rent at or below 30% of gross income, you would need to earn at least $73,000/year (~$35/hour full-time) to afford the median rent of $1,813/mo in Wake Forest. The local median household income is $123,802/yr, meaning the typical Wake Forest household meets that threshold.

Is rent going up or down in Wake Forest?

Rent in Wake Forest has increased 1.7% over the past year as of July 2026, putting upward pressure on renter budgets.

How does Wake Forest rent compare to other cities in North Carolina?

Wake Forest is one of the pricier cities in North Carolina for rent, ranking #42 out of 126 tracked cities at $1,813/mo.

Which nearby cities are cheaper to rent in than Wake Forest?

Several nearby cities have lower median rents than Wake Forest ($1,813/mo): Raleigh ($1,579/mo), Creedmoor ($1,650/mo), Knightdale ($1,759/mo).

What percentage of Wake Forest residents rent vs. own?

According to Census data, approximately 26% of Wake Forest households are renters, while 74% are owner-occupied. Wake Forest leans toward homeownership, which can mean a smaller rental inventory.

How does Wake Forest rent compare to the national average?

Wake Forest's median rent of $1,813/mo is $152 (8%) below the US national median of $1,965/mo. Within North Carolina, it ranks #42 out of 126 tracked cities.

Income Affordability

18%

VERY AFFORDABLE

At $1,813/mo, rent takes ~18% of Wake Forest's median household income ($123,802/yr). The standard benchmark is 30%.

Wake Forest 18%Benchmark 30%

State income tax4.5%

Run the Wake Forest affordability calculator →

Nearby cities