Wake Forest, NC Rental Market Trends
Highlights
The average rent for an apartment in Wake Forest is $1,156, a 6% increase compared to the previous year, when the average rent was $1,094.
Average Rent in Wake Forest, NC
| Average Rent | Y-o-Y Change | Average Apartment Size |
|---|---|---|
| $1,156 | 6% | 1,033 sq. ft. |
The average size for a Wake Forest, NC apartment is 1,033 square feet, but this number varies greatly depending on unit type, with cheap and luxury alternatives for houses and apartments alike. Studio apartments are the smallest and most affordable, 1-bedroom apartments are closer to the average, while 2-bedroom apartments and 3-bedroom apartments offer a more generous square footage.
Wake Forest, NC Apartment Rent Ranges
- $701-$1,00021%
- $1,001-$1,50075%
- $1,501-$2,0004%
Wake Forest, NC Occupied Housing Units
- Renter-occupied Households25%
- Owner-occupied Households74%
3,487 or 25% of the households in Wake Forest, NC are renter-occupied while 10,387 or 74% are owner-occupied.
Wake Forest, NC Rent Trends
| Average Rent | Mar / 2017 | Jul / 2017 | Nov / 2017 | Mar / 2018 | Jul / 2018 | Nov / 2018 | Mar / 2019 | Jul / 2019 | Nov / 2019 | Feb / 2020 |
|---|---|---|---|---|---|---|---|---|---|---|
| Wake Forest, NC | $1,055 | $1,102 | $1,113 | $1,054 | $1,054 | $1,086 | $1,094 | $1,167 | $1,180 | $1,156 |
| National | $1,337 | $1,368 | $1,371 | $1,374 | $1,408 | $1,417 | $1,422 | $1,458 | $1,466 | $1,468 |
How Wake Forest Compares to Other Cities
| Average Rent | Y-o-Y Change | |
|---|---|---|
| Charlotte | $1,259 | 6% |
| Raleigh | $1,238 | 6% |
| Durham | $1,181 | 3% |
| Greensboro | $914 | 4% |
| Winston - Salem | $895 | 7% |
| Cary | $1,220 | 3% |
| Clayton | $1,126 | 1% |
| Morrisville | $1,244 | 2% |
| Garner | $1,110 | 7% |
| Knightdale | $1,254 | 15% |
| Wake Forest | $1,156 | 6% |
For more information about the Wake Forest rental trends, check out our monthly rent report
Check out North Carolina Cities, North Carolina Neighborhoods and North Carolina Zip Codes for more details on verified listings, including the North Carolina Average Rent.
Curious about listings in your area? Check out our apartments near you for more details!