Economic Indicators


Income

Wake Forest Median HH Income:          $68,701
Wake County Median HH Income:        $64,008

Median Family Income

Median Family Income Wake Forest Wake County
Families with Incomes: 7,351 219,687
Less than $10,000 259 6,116
$10,000 to $14,999 123 5,860
$15,000 to $24,999 167 14,333
$25,000 to $34,999 367 14,916
$35,000 to $49,999 726 22,002
$50,000 to $74,999 1,397 38,749
$75,000 to $99,999 1,180 34,038
$100,000 to $149,999 1,763 45,486
$150,000 to $199,999 747 20,062
$200,000 or more 622 18,125
Median family income (dollars) $90,868 $80,043

Source: US Census. ACS 2008-2010


Unemployment Rates and Labor Force

  July 2013 Unemployment Rate

July 2013
Labor Force

 
Wake Forest 5.0% 14,607  
Wake County 7.2% 496,962  
CSA 7.3% 609,028  
State of NC 9.1% 4,751,306  

Source: North Carolina Employment Security Commission


Home Prices

Wake County average sales price single family home $251,332 (Feb 2013 YTD)

Residential Permits (New Housing Starts) Issued in 2012

Detached Single-Family Homes 303 41.06%
Townhomes 144 19.51%
Apartments 288 39.02%
Manufactured Homes 3 0.41%

*Total valuation: $93,268,008.03 (based on permit applications).                                   
Source: Wake Forest Inspections Department

 

Non-Residential Permits Issued in 2012 (76 Total)

Type Total % of Total
Personal Service 21 27%
General Commercial 16 21%
Office 11 14%
Medical 7 9%
Industrial 6 8%
Restaurant 5 7%
Retail 5 7%
Institutional 3 4%
Recreation & Amusement 2 3%

*Total valuation: $20,338,482.00 (based on permit applications)
Source: Wake Forest Inspections Department


Cost of Living

  Composite Index
Raleigh-Cary, NC 89.0
Atlanta, GA 100
Austin, TX 95.5
Baltimore, MD 114.9
Boston, MA 145.7
Charlotte, NC 97
Jacksonville, FL 97.3
Nashville, TN 96.7
Denver, CO 110.2
Richmond, VA 95.6
San Diego, CA 149.2

*The Raleigh-Cary MSA is used as a proxy for Wake County
Source: ACCRA Cost of Living Survey Q3, 2015. A score of 100 represents the national average.


Wake Forest Tax Base Components 2013-2014
Total Commercial & Residential Value = $ 3,973,139,065
View Detailed Wake Forest Tax Base Component Chart

 

 

Contact Us

Wake Forest Economic Development

301 S. Brooks Street

Wake Forest, NC 27587

919-435-9400

News & Blog Posts

Wake Forest among top 10 fastest growing cities in NC!

July 11, 2016

Wake Forest is one of the top 10 cities in NC with the largest population increases between 2010 and 2015.  The 10 cities with the largest population increases between 2010 and 2015 contain 25% of the state’s total population but make up half of the total population growth over the five-year period. 

Read Full Press Release