HOUSING AGE & VALUE Most of Wake Forest’s housing was built in the last 20 years and there is a lack of new middle to lower income housing. The majority of homes in Wake Forest were built between 1980 and 2013 (82%). The Town’s rate of new housing construction was particularly high between 2010 and 2013 (55% of the housing stock)—more than double the County’s. Wake Forest’s homes are mostly valued between $200,000 and $499,999. Less than 1% of homes are valued at over $1,000,000, and only about 2% of homes are valued under $50,000, which shows the lack of housing on the extreme ends of the price spectrum. From 2010 to 2018, homes valued at $300,000 to $499,999 increased the most at 1,700 new units, followed by the $200,000 to $299,000 range with 1,113 new units. Homes valued between $50,000 and $150,000 experienced a decline or a small increase, highlighting the lower number of new housing options for middle to lower income residents.
Housing Value Wake Forest (2018)
10% 15% 20% 25% 30% 35% 40% 45%
39%
32%
13%
7%
6%
0% 5%
2%
0%
Housing Value
Change in Housing Units by Value Wake Forest (2010-2018)
2,000
1,700
1,500
1,113
1,000
500
244
219
109
0
-31
-345
-500
Housing Value
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TOWN OF WAKE FOREST | COMMUNITY PLAN
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