Wake Forest, NC Cost Of Living
Cost Of Living In Wake Forest, NC Summary
Cost of living in Wake Forest research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Wake Forest is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in North Carolina, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Wake Forest is 117, with 100 being the average.
The cost of living index in Wake Forest is 1.2x higher than the national average.
Wake Forest ranks as the #133 cheapest in North Carolina out of 157.
Wake Forest ranks as the #4,212 cheapest out of 6,489 in the US.
The median home value in Wake Forest is $518,745.
The median income in Wake Forest is $120,777.
Table Of Contents
Wake Forest's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Wake Forest, NC?
According to the most recent data on the cost of living, Wake Forest has an overall cost of living index of 117, which is 1.2x higher than the national index of 100.
Compared to North Carolina, Wake Forest has a cost of living index that's 1.3x higher than North Carolina's index of 92.
The standard of living in Wake Forest ranks as #133 most affordable out of the 157 places we measured in North Carolina. By definition, that implies Wake Forest ranks as the #24 most expensive place in the Tar Heel State.
For more reading on life in Wake Forest, check out:
In North Carolina
In America
Wake Forest Cost Of Living Vs. North Carolina
Six factors go into calculating the cost of living index in Wake Forest. Here is how it fairs on each of the criteria:
The Services index in Wake Forest is 98.
The Groceries index in Wake Forest is 98.
The Health index in Wake Forest is 114.
The Housing index in Wake Forest is 157.
The Transportation index in Wake Forest is 95.
The Utilities index in Wake Forest is 100.
| Living Expense | Wake Forest | North Carolina | National Average | |
|---|---|---|---|---|
| Overall | 117 | 92 | 100 | |
| Services | 98 | 100 | 100 | |
| Groceries | 98 | 99 | 100 | |
| Health | 114 | 106 | 100 | |
| Housing | 157 | 86 | 100 | |
| Transportation | 95 | 93 | 100 | |
| Utilities | 100 | 95 | 100 | |
Wake Forest, NC Housing Cost Breakdown
Housing swings affordability the most between places in North Carolina, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2019-2023. The key points are:
The Median Home Value in Wake Forest is $518,745.
The Median Rent in Wake Forest is $1,458.
The Median Income in Wake Forest is $120,777.
The Home Value To Income in Wake Forest is 4.3x.
The Rent To Monthly Income in Wake Forest is 0.14x.
| Statistic | Wake Forest | North Carolina | United States |
|---|---|---|---|
| Median Home Value | $518,745 | $332,681 | $303,400 |
| Median Rent | $1,458 | $1,162 | $1,348 |
| Median Income | $120,777 | $69,904 | $78,538 |
| Home Value To Income | 4.3x | 4.8x | 3.9x |
| Rent To Monthly Income | 0.14x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
Wake Forest, NC Costs By Category
Detailed Wake Forest Services Costs Vs. North Carolina
| Item | Wake Forest | North Carolina |
|---|---|---|
| Shampoo | $1.09 | $1.28 |
| Movie | $10.27 | $12.13 |
| Bowling | $11.0 | $18 |
| Haircut | $19.0 | $24.26 |
| Beauty Salon | $29.58 | $45.56 |
Detailed Wake Forest Groceries Costs Vs. North Carolina
| Item | Wake Forest | North Carolina |
|---|---|---|
| Ground Beef | $5.93 | $5.84 |
| Fried Chicken | $1.59 | $1.57 |
| Milk | $4.57 | $4.67 |
| Potatoes | $5.18 | $4.93 |
| Pizza | $10.47 | $12.09 |
| Beer | $10.29 | $10.41 |
| Toothpaste | $3.65 | $3.7 |
Detailed Wake Forest Health Costs Vs. North Carolina
| Item | Wake Forest | North Carolina |
|---|---|---|
| Optometrist | $141.56 | $125.68 |
| Doctor | $136.38 | $135.78 |
| Dentist | $100.17 | $113.29 |
Detailed Wake Forest Transportation Costs Vs. North Carolina
| Item | Wake Forest | North Carolina |
|---|---|---|
| Gasoline | $3.45 | $3.46 |
| Tire Balancing | $63.55 | $59.92 |
Detailed Wake Forest Utilities Costs Vs. North Carolina
| Item | Wake Forest | North Carolina |
|---|---|---|
| All Electricity | $201.14 | $193.99 |
| Phone | $187.32 | $192.25 |
Wake Forest SnackAbility
/10
Cost Of Living In Cities Around Wake Forest
The cost of living varies in the cities and towns around Wake Forest. Here's a quick look at the cost of living in the most populous nearby places:
Raleigh, NC has a cost of living index of 112, 1.0x Wake Forest.
Garner, NC has a cost of living index of 106, 0.9x Wake Forest.
Knightdale, NC has a cost of living index of 105, 0.9x Wake Forest.
| City | Population | Cost Of Living | Vs. Wake Forest |
|---|---|---|---|
| Raleigh, NC | 470,763 | 112 | 1.0x |
| Garner, NC | 32,543 | 106 | 0.9x |
| Knightdale, NC | 19,532 | 105 | 0.9x |
| Wendell, NC | 11,585 | 102 | 0.9x |
| Rolesville, NC | 10,200 | 116 | 1.0x |
| Butner, NC | 7,996 | 93 | 0.8x |
| Zebulon, NC | 7,961 | 92 | 0.8x |
