Wake Forest, North Carolina Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Wake Forest, North Carolina rental market.
Wake Forest, North Carolina
Average Apartment Rent
$1,617
Y-o-Y Change in Average
Apartment Rent
-0.8%
As of May 2026
Compared to a year ago, Wake Forest, North Carolina apartments have recorded a -0.8% rent decrease.
Wake Forest, North Carolina Average apartment rent trend
Wake Forest, North Carolina Average Apartment Rent
Wake Forest, North Carolina Apartment rent ranges
At 50.01%, apartments priced $1,500 - $2,000 represent the bulk of Wake Forest, North Carolina rentals, while condos priced $2,500 - $3,000 hold the lowest share of the market – 0.66%.
Wake Forest, North Carolina Housing tenure**
Renters take up 27% of Wake Forest, North Carolina real estate, occupying a total of 4,456 units, while homeowners live in 12,355 properties.
Median number of rooms of renter-occupied housing units**
4.2
Renter median household income**
$57,050
Average household size of renter-occupied housing units**
2.4
Rental vacancy rate**
5.7%
Wake Forest, North Carolina Renter-occupied housing units by no. of bedrooms**
There are 2,296 rentals in Wake Forest, North Carolina with 2 beds making up the highest share of the market, at 52%. Units with No bedrooms, on the other hand, hold the lowest percentage (3%), amounting to 130 units. Overall, the median number of rooms in Wake Forest, North Carolina homes for rent is 4.2.
Wake Forest, North Carolina Renter-occupied units by age of householder**
Most condos for rent in Wake Forest, North Carolina are occupied by residents in the 45 - 54 years age group (28%), followed by those in the 25 - 34 years age group (24%). At the same time, people in the 60 - 64 years age group make up the lowest share of the local rental market – 3%.
Wake Forest, North Carolina Renter-occupied housing units by family type**
Wake Forest, North Carolina Renter-occupied housing units by the presence of own children**
A total of 2,587 apartments for rent in Wake Forest, North Carolina, or 58% of all rentals are family households. Additionally, 32% of rental homes include children under the age of 18 – that’s 1,431 units. All in all, the median size of a renter-occupied household in Wake Forest, North Carolina is 2.4.
Wake Forest, North Carolina Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 50% of the rental market. In contrast, residents with less than a high school degree reside in 4% of the homes for rent in Wake Forest, North Carolina.
Wake Forest, North Carolina Renter-occupied units by year structure built**
The highest share of Wake Forest, North Carolina apartment rentals, namely 43% or 1,926 units, were Built 2010 - 2019, followed by those Built 1990 - 1999 (17%, 777 units), and the ones Built 2000 - 2009 (16%, 718 units).
Wake Forest, North Carolina Renter-occupied units by year householder moved in**
Median year renter moved into unit 2019
Most Wake Forest, North Carolina renters (52%) moved in 2018 to 2020, while only 2% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Wake Forest, North Carolina condos for rent is 2019.
Wake Forest, North Carolina Renter-occupied housing units by vehicles available**
When it comes to transportation options, 41% of Wake Forest, North Carolina renters have 1 vehicle available per household, 40% of them have 2 vehicles available, and 9% have No vehicle available.
Wake Forest, North Carolina Means of transportation to work of householders living in renter-occupied housing units**
Wake Forest, North Carolina Geographical mobility in the past year for householders living in renter-occupied housing units**
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Wake Forest, North Carolina apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
