Wake Forest is a medium-sized town located in the state of North Carolina. With a population of 49,657 people and 15 constituent neighborhoods, Wake Forest is the 23rd largest community in North Carolina. Much of the housing stock in Wake Forest was built relatively recently. The construction of new real estate can often be taken as an indication that the local Wake Forest economy is robust, and that jobs or other amenities are attracting an influx of new residents. This seems to be the case in Wake Forest, where the median household income is $100,162.00.
Wake Forest home prices are not only among the most expensive in North Carolina, but Wake Forest real estate also consistently ranks among the most expensive in America.
Wake Forest is a decidedly white-collar town, with fully 89.14% of the workforce employed in white-collar jobs, well above the national average. Overall, Wake Forest is a town of professionals, managers, and sales and office workers. There are especially a lot of people living in Wake Forest who work in management occupations (17.29%), sales jobs (12.47%), and business and financial occupations (10.89%).
Also of interest is that Wake Forest has more people living here who work in computers and math than 95% of the places in the US.
One interesting thing about the economy is that relatively large numbers of people worked from their home: 13.08% of the workforce. While this number may seem small overall, as a fraction of the total workforce this is high compared to the rest of the county. These workers are often telecommuters who work in knowledge-based, white-collar professions. For example, Silicon Valley has large numbers of people who telecommute. Other at-home workers may be self-employed people who operate small businesses out of their homes.
One downside of living in Wake Forest, however, is that residents on average have to contend with a long commute, spending on average 32.22 minutes every day commuting to work.
Even though Wake Forest is not a small town, it doesn't have a public transportation system that anybody uses for their daily commute to work.
Do you have a 4-year college degree or graduate degree? If so, you may feel right at home in Wake Forest. 55.45% of adults here have a 4-year degree or graduate degree, whereas the national average for all cities and towns is just 21.84%.
The per capita income in Wake Forest in 2018 was $40,217, which is wealthy relative to North Carolina and the nation. This equates to an annual income of $160,868 for a family of four.
Wake Forest is a very ethnically-diverse town. The people who call Wake Forest home describe themselves as belonging to a variety of racial and ethnic groups. The greatest number of Wake Forest residents report their race to be White, followed by Black or African-American. Important ancestries of people in Wake Forest include English, German, Irish, Italian, and Polish.
The most common language spoken in Wake Forest is English. Other important languages spoken here include Spanish and African languages.