Disclaimer: Covid-19 may have impacted rent prices in a way that is not yet reflected in our reports. When referencing the data published on this page, please keep in mind that the data provided here may not accurately depict the current reality of the market.
Wake Forest, NC Rental Market Trends
What is the average rent in Wake Forest?
The average rent for an apartment in Wake Forest is $1,256, a 9% increase compared to the previous year, when the average rent was $1,156.
Average Rent in Wake Forest, NC
Last updated April 2021
| Average Rent | Y-o-Y Change | Average Apartment Size |
|---|---|---|
| $1,256 | 9% | 1,033 sq. ft. |
What is the average apartment size in Wake Forest?
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-$1,0007%
- $1,001-$1,50086%
- $1,501-$2,0007%
Wake Forest, NC Occupied Housing Units
- Renter-occupied Households24%
- Owner-occupied Households75%
3,628 or 24% of the households in Wake Forest, NC are renter-occupied while 11,104 or 75% are owner-occupied.
Wake Forest, NC Rent Trends
| Average Rent | Mar / 2018 | Jul / 2018 | Nov / 2018 | Mar / 2019 | Jul / 2019 | Nov / 2019 | Mar / 2020 | Jul / 2020 | Nov / 2020 | Apr / 2021 |
|---|---|---|---|---|---|---|---|---|---|---|
| Wake Forest, NC | $1,054 | $1,054 | $1,086 | $1,094 | $1,167 | $1,180 | $1,156 | $1,160 | $1,248 | $1,256 |
| National | $1,317 | $1,348 | $1,357 | $1,361 | $1,393 | $1,400 | $1,401 | $1,391 | $1,393 | $1,399 |
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How Wake Forest Compares to Other Cities
| Average Rent | Y-o-Y Change | |
|---|---|---|
| Charlotte | $1,293 | 2% |
| Raleigh | $1,269 | 1% |
| Winston - Salem | $952 | 6% |
| Durham | $1,217 | 2% |
| Greensboro | $987 | 7% |
| Clayton | $1,259 | 12% |
| Cary | $1,249 | 2% |
| Morrisville | $1,305 | 5% |
| Chapel Hill | $1,461 | 4% |
| Garner | $1,143 | 3% |
| Wake Forest | $1,256 | 9% |
Most Popular Apartments in Wake Forest
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 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.