2024
Wake Forest Community Profile
Wake Forest is part of North Carolina's thriving Research Triangle Region & just minutes from downtown Raleigh. The Town's 58,000+ residents & flourishing business base combine to create a wonderfully vibrant community.
Top 2% among 552 municipalities across NC
5 Minute DT 10 Minute DT Trade Area 2023 Estimated Population 47,727 114,233 218,476 Daytime Population 48,797 95,823 169,313 Median HH Income $108,480 $113,878 $102,837 No. of Households 18,265 41,749 78,889 RETAIL & TRADE GENDER & ETHNICITY 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 7.0% of the population is recorded as being of Hispanic or Latino Origin (of any race) Source: 2016-2021 American Community Survey 5-Year Estimates 48.6% Male 51.4% Female Duke University 30 miles NC State University 20 miles UNC Chapel Hill 37 miles Research Triangle Park 26 miles Downtown Raleigh 17 miles RDU Int'l Airport 24 miles NC Beaches 2.5 hours NC Mountains 3 hours Location Source: ESRI Forecasts 2023 and Retail Strategies of population is less than 65 years old 88% WAKE FOREST POPULATION GROWTH (1980 – 2024) 14,228 30,818 54,274 1980 2040 2020 2000 30000 20000 10000 70000 60000 40000 50000 0 Source: Office of State Budget and Management, US Census and Wake Forest Planning Department 307% population increase (2000 – 2024) 68,315 118,912 (2028 EST.) (2040 EST.) Population Characteristics 3,148 5,581 80000 90000 MEDIAN HOUSEHOLD INCOME $120K $100K $80K $60K $40K $20K Source: 2022 American Community Survey 5-Year Estimates NC US Wake Forest $115,159 $74,755 $67,481 Nearly 70% higher than the median NC household 58,007
600+
to
$1.1 Billion awarded in federal grant funds reviving passenger rail to Wake Forest for the construction of the S-Line from Raleigh to Wake Forest by 2030 www.ncbytrain.org.
Wake
Express & Wake Forest Loop www.wakeforestnc.gov/ busservice.aspx
Retail Trade LABOR FORCE Wake Forest (10 mile radius) 807,349 659,570 157,867 Source: ESRI and Labor & Economic Analysis Division of the North Carolina Department of Commerce Wake County Raleigh MSA Raleigh-Durham-Chapel Hill CSA TOP 4 INDUSTRY SECTORS BY EMPLOYMENT (AGE 16+) Source: 2022 American Community Survey 5-Year Estimates Professional, scientific, management & administrative Manufacturing Workforce 27.6% Educational services, health care & social assistance 19.6% 11.8% 10.0% RESIDENTIAL BUILDING PERMITS ISSUED (NEW STARTS, BY YEAR) 1000 1200 800 600 400 200 0 Source: 2018-2023 Wake Forest Planning Department and Inspections Department
Learn more: www.rdu.com AIR RAIL BUS
Forest-Raleigh
flights
14
airlines
48 non-stop
international
30 minutes Transportation $0.505 Wake Forest $0.657 Wake County $1.162 Total PROPERTY TAX 130+ State & Local Taxes Personal Income Tax 4.5% Corporate Tax 2.5% Sales Tax 7.25% Development Activity Entrepreneurship 1,168,144
Wake
Wireless
Dock Wake Forest '23 663 '18 '19 '20 '21 '22 774 691 573 753 739
on
major
destinations daily and 7
destinations daily.
Startups launched through support from
Forest Founders, RIoT Labs,
Research Center and Loading
Education
K-12 EDUCATION
Wake Forest is part of the award winning Wake County Public School System, the 15th largest district in the nation. Learn more at wcpss.net.
Wake Forest students enjoy access to:
19 Public Schools
9 Charter Schools
6 Private Schools
21.9% 35.9% 96.9%
Graduate or Professional Degree
Bachelors Degree High School Degree
57.8% of Wake Forest residents have a bachelor's degree or higher 22.1% higher than the U.S. average
HIGHER EDUCATION
183K students enrolled at area colleges & universities
Wake Forest has ready access to three Tier One research universities, eight four-year colleges & universities, & multiple community colleges.
NC State, Duke & UNC combine to conduct more than $2.9 billion in research every year
Wake Tech provided customized training to 2,550 private-sector employees in 2022
Southeastern Baptist Theological Seminary serves 5,000+ students & generates a direct annual economic impact of over $41.4 million
Source: 2016-2021 American Community Survey 5-Year Estimates
525 S. White St., Suite 117 Wake Forest, NC 27587 919.435.9420 discoverwakeforest.org ®