EXISTING CONDITIONS: HOUSING
Town of Wake Forest | HOUSING AFFORDABILITY PLAN
Housing Conditions
FIGURE 18: REGIONAL SHARE OF HOUSING TYPES 2020
Existing Housing Inventory Wake Forest is overwheImingly comprised of single family homes. As of 2020, more than 82% of all residential properties in Wake Forest are single-family homes, with 17% being multifamily. Wake Forest’s housing stock contains a smaller share of multifamily housing than Wake County and North Carolina overall (Figure 18). Despite recent national trends in which single-family homes are increasingly being used as rental properties, the vast majority of single-family homes continue to be owner-occupied (Figure 19).
Single Family Detached Single Family Attached
Multifamily/Multiunit Other
68%
66%
61%
25%
18%
17%
14%
12%
11%
4%
3%
1%
North Carolina
Wake County
Wake Forest
Source: American Community Survey (ACS) 5-Year, 2020
FIGURE 19: WAKE FOREST HOUSING BY TYPE AND TENURE 2020
88%
68%
Single Family Detached Single Family Attached Multifamily/Multiunit Other
THE TAKEAWAY
16% 15%
11%
The Wake Forest housing market has primarily catered to households looking for single family homes, and the Town contains a much smaller share of multifamily housing units than Wake County as a whole.
<1% 1%
<1%
Owner Occupied Units
Renter Occupied Units
Source: American Community Survey (ACS) 5-Year, 2020
18
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