Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 51,113 people, 16,811 houses or apartments, and a median cost of homes of $550,162, Wake Forest real estate is some of the most expensive in North Carolina, although Wake Forest home values aren't among America's most expensive.
Single-family detached homes are the single most common housing type in Wake Forest, accounting for 67.15% of the town's housing units. Other types of housing that are prevalent in Wake Forest include large apartment complexes or high rise apartments ( 15.72%), row houses and other attached homes ( 11.43%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.07%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Wake Forest. Owner-occupied housing accounts for 72.51% of Wake Forest's homes, and 60.41% have either three or four bedrooms, which is average sized relative to America.
Wake Forest homes and real estate are some of the newest in America. 69.15% of Wake Forest's housing was built since 2000, making the town have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Wake Forest real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 25.23%), and between 1940-1969 ( 4.15%). There's also some housing in Wake Forest built before 1939 ( 1.48%).
Appreciation rates for homes in Wake Forest have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 99.20%, which ranks in the top 40% nationwide. This equates to an annual average Wake Forest house appreciation rate of 7.13%.
Over the last year, Wake Forest appreciation rates have trailed the rest of the nation. In the last twelve months, Wake Forest's appreciation rate has been 3.88%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Wake Forest were at 1.24%, which equates to an annual appreciation rate of 5.07%.
Relative to North Carolina, our data show that Wake Forest's latest annual appreciation rate is lower than 80% of the other cities and towns in North Carolina.
One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Wake Forest differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Wake Forest - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Wake Forest real estate investment or home purchase decisions.
$550,162
for North carolina
for nation
16,811
$2,190 / per month