Wake Forest, NC Census Data
The 22nd largest city in North Carolina by population · 22 cities ranked
Wake Forest is the 22nd largest city in North Carolina by population and ranks 3rd of 22 for median household income. With 51,199 residents, it has a lower poverty rate than 20 other North Carolina cities. This snapshot draws from the 2023 American Community Survey (ACS) 5-year estimates.
Updated: 2026-04-13 · Source: U.S. Census Bureau, ACS 2023
Population
51,199
48.5% male · 51.5% female
Median Age
38.8
0.1 above the national average (38.7 yrs)
Median Household Income
$120,777
$42,239 above the national average ($78,538)
Bachelor's Degree or Higher
57.8%
22.8% above the national average (35.0%)
HS diploma or higher: 95.8%
Poverty Rate
2.9%
9.5% below the national average (12.4%)
Uninsured: 5.7%
Broadband Access
97.9%
8.2% above the national average (89.7%)
Median Home Value
$435,000
Median rent: $1,458 · 75% owner-occupied
Unemployment Rate
4.5%
Labor force participation: 65.3%
Per Capita Income
$57,765
Individual average income (not household)
Veteran Population
8.2%
Disability rate: 9.3%
How Wake Forest Compares to Other North Carolina Cities
Rankings among all 22 North Carolina cities tracked in the 2023 ACS.
| Ranking | Position | Tier |
|---|---|---|
| Largest by Population | 22nd of 22 | Bottom 25% |
| Highest Median Income | 3rd of 22 | Top 25% |
| Lowest Poverty Rate | 2nd of 22 | Top 10% |
| Highest Bachelor's Attainment | 4th of 22 | Top 25% |
| Highest Home Value | 5th of 22 | Top 25% |
Demographics
Race & Ethnicity
Age Distribution
Commute to Work
Wake Forest, NC Frequently Asked Questions
What is the population of Wake Forest, NC?
The population of Wake Forest, NC is 51,199 according to the 2023 American Community Survey 5-year estimates. The median age is 38.8 years.
What is the median household income in Wake Forest?
The median household income in Wake Forest, NC is $120,777, above the national average of $78,538. Per capita income is $57,765.
What is the poverty rate in Wake Forest?
The poverty rate in Wake Forest, NC is 2.9%, compared to the national average of 12.4%. About 5.7% of residents lack health insurance.
What percentage of Wake Forest residents have a college degree?
57.8% of adults (25+) in Wake Forest hold a bachelor's degree or higher, and 95.8% have at least a high school diploma. The national average for bachelor's degree holders is 35.0%.
What is the median home value in Wake Forest?
The median home value in Wake Forest, NC is $435,000. Median rent is $1,458 per month, with 75% of housing units owner-occupied.
What is the racial makeup of Wake Forest?
Wake Forest's population is 67.3% White, 19.8% Black, 7.8% Hispanic or Latino, and 2.4% Asian (source: 2023 ACS).
How does Wake Forest rank among North Carolina cities?
Wake Forest is the 22nd largest city in North Carolina by population, the 3rd highest for median household income, the 2nd lowest for poverty rate, the 4th highest for bachelor's degree attainment among 22 ranked North Carolina cities.
What is the unemployment rate in Wake Forest?
The unemployment rate in Wake Forest, NC is 4.5%, with a labor force participation rate of 65.3%. Per capita income is $57,765.
Cities Similar to Wake Forest
Other North Carolina cities with comparable population and income levels.