Elan Capital Hills
7100 Homestead Heights Ln,
Raleigh, NC 27616
1-3 Beds | $1,397 - $2,667
Rental Market Trends in Wake Forest, NC
Updated July 2026
The average rent in Wake Forest, NC is $1,388/month.
Rent in Wake Forest is 16% lower than the national average rent of $1,662/month, making this one of the less expensive cities statewide.
$1,388/month
Average Rent
816 Sq Ft
Average Size
-0.5%
Change / Year
1,457
Available Apartments
Wake Forest rent varies by unit size and layout:
- Studio apartments in Wake Forest average per month.
- One-bedroom apartments in Wake Forest average $1,388 per month.
- Two-bedroom apartments in Wake Forest average $1,683 per month.
- Three-bedroom apartments in Wake Forest average $2,039 or more per month.
Average Rent by Home Type
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
How much has average rent changed in Wake Forest, NC?
In the past year, rent has decreased by 0.5%, which averages out to $7 less per month.
Market Trends Over Time
July 2026
2025
2026
Rent Ranges in Wake Forest, NC
July 2026
$1,501 - $2,000
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
0%
$700 - $1,000/month
40%
$1,001 - $1,500/month
55%
$1,501 - $2,000/month
5%
Above $2,000/month
Rent by Neighborhood
What are the most affordable neighborhoods in Wake Forest?
Based on current rent prices, Crenshaw Forest is the most affordable neighborhood in Wake Forest.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Wake Forest?
Based on current rent prices, Crenshaw Forest is the most expensive neighborhood in Wake Forest.
Neighborhood
Average Rent
Average Sq Ft
Which Wake Forest neighborhoods have the most rentals available?
The neighborhood in Wake Forest with the most apartments available is Crenshaw Forest .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Wake Forest, NC?
Because the average rent in Wake Forest is $1,388, you’ll want to make about $4,626 per month or $55,512 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does Wake Forest, NC compare to other nearby cities and neighborhoods?
Use the tool below to compare Wake Forest, NC to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
View the Wake Forest Area GuideStudio
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Compare Rent Trends Nearby
Get a clearer picture of the area by viewing rent trends in nearby cities.
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Frequently Asked Questions
What is the average rent in Wake Forest?
The average rent in Wake Forest is $1,388 per month, which is 16.5% lower than the national average of $1,662.
What is the average rent for a house in Wake Forest?
The average rent for a house in Wake Forest, NC is $2,054 per month.
What is the average rent for a townhome in Wake Forest?
The average rent for a townhome in Wake Forest, NC is $2,015 per month.
Are rents going up or down in Wake Forest?
Rents in Wake Forest, NC are decreasing, with prices down 0.5% year-over-year and $7 less per month.
What rent range is most common in Wake Forest?
In Wake Forest, NC, 55% of apartments fall between $1,501 - $2,000/month, though prices may vary depending on location and other factors.
Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in June 2026.
Demographic information comes from Neustar and combines detailed address data with U.S. Census and American Community Survey statistics to produce reliable local estimates.
* Percentages may not total 100 due to rounding.