2025 Wake Forest Community Profile

2025

Wake Forest Community Profile Wake Forest is part of North Carolina's thriving Research Triangle Region & just minutes from downtown Raleigh. The Town’s nearly 62,000 residents & flourishing business base combine to create a wonderfully vibrant community.

Luke Reynolds – Aerial Photography

Top 3% among 551 municipalities across NC

Location

Duke University

NC Beaches

30 miles

2.5 hours

NC Mountains 3 hours

UNC Chapel Hill

Downtown Raleigh

Research Triangle Park

37 miles

17 miles

26 miles

88%

RDU Int'l Airport

of population is less than 65 years old

24 miles

NC State University 20 miles

Population Characteristics WAKE FOREST POPULATION GROWTH (1970 – 2025) 90000 80000 70000 60000 50000 40000 30000 20000 10000 0

118,912

(2040 EST.)

GENDER & ETHNICITY

68,315

70.4% White 17.8% Black or African American 6.7% Two or more races 2.3% Asian 1.7% Some other race 0.1% American Indian or Alaska Native

(2028 EST.)

54,274 30,818 3,148 5,581 1980

336

51.4% Female

(2000 – 2025) 2020

2040

Source: Office of State Budget and Management, US Census and Wake Forest Planning Department

RETAIL & TRADE

Male

%

population increase

14,228 2000

48.6%

61,987 (2025 EST.)

7.0% of the population is recorded as being of Hispanic or Latino Origin (of any race) Source: 2022 American Community Survey 5-Year Estimates

MEDIAN HOUSEHOLD INCOME 3 Mile Radius

5 Mile Radius

Trade Area

2024 Estimated Population

49,480

117,854

230,313

Daytime Population

50,980

99,543

166,054

Median HH Income

$116,943

$122,468

$117,880

$140K $120K $100K

18,963

Source: ESRI Forecasts 2024 and Retail Strategies

Luke Reynolds – Aerial Photography

43,163

84,036

US

Wake Forest

Nearly 71% higher than the median NC household

$80K $60K

No. of Households

NC

$70,804

$77,719

$40K Source: 2023 American Community Survey 1-Year Estimates

$120,777

Workforce

Transportation

LABOR FORCE

AIR 30 minutes

234,381 Wake Forest (10 mile radius)

400+ flights on 17 major airlines to 57 non-stop destinations and 14 international destinations in 11 countries daily.

680,481 Wake County

761,900

Learn more: www.rdu.com

Raleigh MSA

1,194,935

RAIL

$1.1 Billion federal grant reviving passenger rail by constructing the S-Line from Raleigh to Wake Forest by 2030 www.ncbytrain.org.

BUS

Wake Forest- Raleigh Express (WRX) www. wakeforestnc.gov/transportation/bus-service.

VAN

GO WAKE FOREST Townwide on-demand micro transit service city.ridewithvia.com/wake-forest.

Raleigh-Durham-Chapel Hill CSA

12.6

10.1

%

Retail Trade

%

Manufacturing

Source: 2023 American Community Survey 5-Year Estimates

Personal Income Tax

PROPERTY TAX

2.25% Corporate Income Tax

1000

'19

'20

'21

'22

'23

'24

800 600 200 0

Source: 2018-2024 Wake Forest Planning Department and Inspections Department

7.25%

$0.420 Wake Forest $0.513 Wake County $0.933 Total

1200

400

State & Local Taxes

4.25%

RESIDENTIAL BUILDING PERMITS ISSUED (NEW STARTS, BY YEAR) 684

Professional, scientific, management & administrative

663

Educational services, health care & social assistance

Development Activity

739

17.9%

753

27.6%

573

TOP 4 INDUSTRY SECTORS BY EMPLOYMENT (AGE 16+)

691

Source: 2023 JobsEQ

Sales Tax

Entrepreneurship launched through support 150+ Startups from Wake Forest Founders, RIoT Labs, Wireless Research Center and Loading Dock Wake Forest

Education K-12 EDUCATION Wake Forest is part of the award winning Wake County Public School System, the 14th largest district in the nation. Learn more at wcpss.net.

Wake Forest students enjoy access to:

6

19 Schools

9

22.6%

35.3%

95.8%

Graduate or Professional Degree

Bachelors Degree

High School Degree

Public

Charter Schools

57.9%

Private Schools

179K

of Wake Forest residents have a bachelor's degree or higher

students enrolled at area colleges & universities

21.7% higher than the U.S. average Source: 2023 American Community Survery 5-Year Estimates

HIGHER EDUCATION Wake Forest has proximal access to three Tier One research universities, eight four-year colleges & universities, & multiple community colleges.

NC State, Duke & UNC combine to conduct more than billion in research every year

$3.0

Wake Tech provided customized training to private-sector employees in 2024

1,279

®

Southeastern Baptist Theological Seminary serves 5,000+ students & generates a direct annual economic impact of over million

$41.4

525 S. White St., Suite 117 Wake Forest, NC 27587 919.435.9420 discoverwakeforest.org