HomeNorth CarolinaWake CountyWake Forest town
Wake Forest town, North Carolina: commercial real estate data.
Wake Forest town is a Census town of 52,844 people across 19.88 square miles of land, lying across Wake County and Franklin County. Median household income is $123,802, 74.0 percent of occupied homes are owned, and the SBA record carries 107 7(a) approvals to borrowers here worth $62.9 m.
82 sourced place values · tier FULL · 9 sections · underlined figures are computed by MMCG Analytics, not published by the agency
Wake Forest
What Wake Forest is
- Census place typetown
- Land area19.88 sq mi
- Water area0.15 sq mi
- Population per square mile of land2,659
- County holding the largest share of its areaWake County, 97.5 percent
- Counties this place lies inWake County 97.5 percent, Franklin County 2.5 percent
Wake Forest town crosses a county line. The split above is measured from the Census boundary of the place against the county boundaries, by area, so it says where the ground is and not where the town hall is.
US Census Bureau, cartographic boundary file, places, 2024 vintage. US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Wake Forest
How many people live in Wake Forest
- Population52,844
- Median age38.6
- Population under 1814,002
- Share under 1826.5 percent
- Population 65 and over6,766
- Share 65 and over12.8 percent
- Households18,403
- Family households14,332
- Share of households that are families77.9 percent
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Wake Forest
Income and work in Wake Forest
- Median household income$123,802
- Per capita income$51,709
- Civilian labor force28,335
- Employed27,199
- Unemployed1,136 plus or minus 698
- Unemployment rate4.0 percent plus or minus 2.5
- Adults 25 and over35,271
- Adults 25 and over with a high school diploma or higher96.4 percent
- Adults 25 and over with a bachelor degree or higher59.5 percent
- Adults 25 and over with a graduate degree23.7 percent
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Wake Forest
Housing in Wake Forest
- Housing units19,428
- Occupied units18,403
- Vacant units1,025 plus or minus 372
- Vacancy rate5.3 percent plus or minus 1.9
- Owner occupied13,617
- Renter occupied4,786
- Ownership rate74.0 percent
- Median owner-occupied home value$474,500
- Median gross rent, monthly$1,596
- Annual rent as a share of median income15.5 percent
- Single family units15,513
- Share single family79.8 percent
- Units in buildings of two or more3,706 plus or minus 879
- Share in buildings of two or more19.1 percent plus or minus 4.5
- Mobile homes209 plus or minus 137
- Median year structure built2009
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Wake Forest
How Wake Forest gets to work
- Workers 16 and over who commute19,228
- Commuting under 15 minutes3,954
- Share commuting under 15 minutes20.6 percent
- Commuting 30 minutes or more10,577
- Share commuting 30 minutes or more55.0 percent
- Drove alone64.5 percent
- Carpooled5.1 percent plus or minus 1.5
- Public transport0.0 percent
- Walked1.1 percent plus or minus 0.6
- Worked from home28.7 percent
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Wake Forest
SBA loans in Wake Forest (7(a))
- Approvals107
- Gross approval$62,886,000
- Average approval$587,720
- Median approval$374,800
- Ninetieth percentile approval$1,164,100
- Largest approval$5,000,000
- Jobs supported1,962
- Jobs per approval18.3
- Loans with a final outcome23
- Paid in full20
- Charged off3
- Charge-off rate over resolved loans13.0 percent
- Median term120 months
- Share on real estate terms of 20 years or more10.3 percent
- Share to franchises30.8 percent
- Distinct lenders45
- Distinct industries by NAICS62
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Wake Forest
SBA loans in Wake Forest (504)
- Approvals24
- Gross approval$19,670,000
- Average approval$819,583
- Median approval$656,000
- Largest approval$3,189,000
- Jobs supported261
- Loans with a final outcome8
- Charged off0
- Median term240 months
- Distinct CDCs4
US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Wake Forest
Flood risk in Wake Forest
- Listed NFIP communities1
- Of those, participating1
- NFIP community number370244
- Currently effective map date07/19/22
This community carries no Community Rating System class, so no CRS premium discount applies to it.
FEMA, National Flood Insurance Program Community Status Book, Community Status Book, as retrieved.
Wake County, not Wake Forest
Wake County context, not Wake Forest figures
These are Wake County figures. There is no place level equivalent published for any of them, so they are shown as the county backdrop and never as Wake Forest measurements.
- Establishments in Wake County33,873
- Employment at those establishments, Wake County556,250
- Covered employment, Wake County653,153
- Average annual pay, Wake County$76,807
- Average weekly wage, Wake County$1,477
- Housing units permitted, Wake County15,248
- Of those, single family, Wake County9,620
- County product, 2024, Wake County$128,428,188,000
- County product change over the prior year, Wake County6.5 percent
- Average income of an arriving household, Wake County$88,162
Every figure in this section is published for Wake County as a whole and is not a measurement of Wake Forest. It is here because a county backdrop is what a credit committee reads a place against, and it is labelled so that it can never be quoted as the place's own.
US Census Bureau, County Business Patterns, 2023. US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages. US Census Bureau, Building Permits Survey, 2024 annual. US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024. US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Coverage
What this page does not hold.
Every item below could be filled with a plausible figure. None of them is. On a page a lender may read, a number that cannot be traced is worse than an absence, so the absences are named.
- Parcel level detail, zoning and flood zone at an address are resolved in the platform, not on this page.
SBA figures count approvals to borrowers whose address is in the place. They are not approvals for projects inside the place boundary: the tape records a borrower city and a project county, and those can differ.
Common questions
Wake Forest questions, answered from the record.
How many people live in Wake Forest, North Carolina?
52,844, in 18,403 households. Wake Forest town covers 19.88 square miles of land, which is 2,659 people per square mile. Source: US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
What county is Wake Forest in?
Wake Forest lies in more than one. By area it is 97.5 percent in Wake County, 2.5 percent in Franklin County. This page sits under Wake County because that county holds the largest share. The split is measured from the Census boundary of the place against the county boundaries.
What is the median household income in Wake Forest?
$123,802. The median owner-occupied home is valued at $474,500. Median gross rent is $1,596 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
How much SBA lending goes to Wake Forest businesses?
107 7(a) approvals totalling $62.9 m, across 45 lenders, median approval $374,800, plus 24 504 approvals worth $19.7 m. These count approvals to borrowers whose address is in Wake Forest, not projects sited inside the place boundary, and they are approvals recorded in the release rather than loans disbursed.
Do SBA loans to Wake Forest borrowers get paid back?
Of the 23 loans that have reached a final outcome, 20 were paid in full and 3 charged off, a charge off rate of 13.0 percent. Loans still running are excluded because they have not yet succeeded or failed.
Is Wake Forest in the National Flood Insurance Program?
Yes. Wake Forest appears in the FEMA Community Status Book as community 370244, with no Community Rating System class, so no CRS discount applies. Whether a specific parcel sits in a mapped special flood hazard area is an address level question the platform answers.
Are the county figures on this page Wake Forest figures?
No, and they are labelled so. County Business Patterns, QCEW, the Building Permits Survey, BEA product and IRS migration are published for Wake County as a whole and there is no place level equivalent. They appear in one clearly marked section as context and are never presented as measurements of Wake Forest.
Is zoning published for Wake Forest?
Not yet. The zoning layer is in build. Nothing on this page presents parcel level zoning.