Wake County · North Carolina · South · 53k residents
Wake Forest, NC: economy, jobs & business costs
The site-selection read on Wake Forest: labor costs, talent, corporate tax, energy, and business activity, with the North Carolina median as the yardstick. Compare it live against any of 3,000 US cities.
Data coverage: ACS place data; supplementary fields may use state estimates.
Average weekly wages in the surrounding labor market run $1,560/wk. North Carolina's corporate income tax rate is 2.25%. Commercial electricity averages 10.6¢/kWh.
Compare Wake Forest side by side
Avg. weekly wage
$1,560/wk
Corporate income tax
2.25%
Bachelor's degree or higher
59.5%
Commercial electricity
10.6¢/kWh
Economic momentum
How fast Wake Forest's economy is moving, ranked against the US cities we track.
81/100
Heating
Ranks Wake Forest's residential building-permit and jobs growth against the US cities we cover. The label is relative pace, not a direction, so a market can rank low while some figures still rise. A higher score moves faster, it is not cheaper or better. This is economic activity, not commercial lease rates or vacancy. Not investment or relocation advice.
| ACS median home value | $474,500 |
| Price per sq. ft. | $190 |
| Property tax rate | 0.82% |
| 1-bedroom rent | $1,319/mo |
| 2-bedroom rent | $1,548/mo |
| State & local income tax | 3.15% |
| Sales tax | 7% |
| Corporate income tax | 2.25% |
| Avg. weekly wage | $1,560/wk |
| Bachelor's degree or higher | 59.5% |
| Commercial electricity | 10.6¢/kWh |
| Businesses per 1k residents | 42.5/1k |
| Wage: Software developer | $132,770 |
| Wage: Registered nurse | $84,830 |
| Wage: General manager | $114,940 |
| Wage: Customer service | $41,900 |
| Wage: Warehouse worker | $35,220 |
| Wage: Heavy truck driver | $52,110 |
| Wage: Electrician | $56,800 |
| Wage: Retail salesperson | $33,100 |
| Cost of living index | 106 |
| Groceries index | 98 |
| Utilities | $155/mo |
| Transit pass | $55/mo |
| Gas price | $3.05/gal |
| Healthcare index | 100 |
| Childcare (per child) | $1,050/mo |
| Median household income | $123,802 |
| Unemployment rate | 3.8% |
| Population | 53k |
| Crime index | 48/100 |
| School rating | 6.0/10 |
| Walkability | 34/100 |
| Disaster risk | 96/100 |
| Avg. commute | 25 min |
| Sunny days / year | 213 days |
| July high | 87°F |
| January low | 28°F |
| Annual snowfall | — |
| Home price YoY | -1.6% |
| Home price MoM | -0.2% |
| Rent YoY | +0.3% |
| Rent MoM | +0.1% |
| Employment (jobs) YoY | +1.9% |
| Building permits YoY | +21.6% |
| Ocean coast | 125 mi |
| Big lake | 51 mi |
| Mountains | 173 mi |
| Major airport | 16 mi |
| Ski resort | 136 mi |
Popular comparisons
Nearby
- Knightdale, NC · 20k
- Raleigh, NC · 481k
- Morrisville, NC · 31k
- Durham, NC · 291k
- Cary, NC · 179k
Similar size
- Mooresville, NC · 52k
- Rocky Mount, NC · 54k
- Wilson, NC · 48k
- Kannapolis, NC · 58k
- Burlington, NC · 60k
Real listings in Wake Forest
LoopNet ↗Crexi ↗CommercialCafe ↗
Links open third-party listing searches. WhereToHQ has no paid relationship with these sites.
- Is Wake Forest a good place to run a business?
- North Carolina's corporate income tax rate is 2.25%; average weekly wages in the surrounding labor market run $1,560/wk; commercial electricity averages 10.6¢/kWh. Weigh these against your own priorities in the business comparison tool.
- What is the cost of living in Wake Forest, NC?
- Wake Forest indexes at 106 for day-to-day costs against a national baseline of 100, with a typical two-bedroom renting for $1,548/mo and a acs median home value of $474,500.
- How much does a house cost in Wake Forest?
- The acs median home value in Wake Forest is $474,500 (Census ACS estimate; individual listings vary).
- How much is rent in Wake Forest?
- A two-bedroom in Wake Forest rents for about $1,548/mo.