EXISTING CONDITIONS: HOUSING
HOUSING AFFORDABILITY PLAN | Town of Wake Forest
Housing Conditions
FIGURE 20: SHARE OF HOUSING UNITS BY NEW DEVELOPMENT TYPE IN WAKE FOREST 2016-2020
New Development New housing development in Wake Forest is occurring rapidly, and the type of housing being built is evolving. Among the units newly developed from 2016 to 2020, 70% have been single-family homes, 15% have been townhomes, and 15% have been multifamily homes (Figure 20). Between 2016 and 2020, a slightly greater share of housing built was a townhome typology (15%) than currently exists in Wake Forest's housing inventory overall (14%, per Figure 18). This shift reflects both increased demand for townhomes by homebuyers and land use changes that allow for more diverse housing types. When accounting for planned developments in the pipeline, Wake Forest’s housing inventory will increase to approximately 24,577 units by 2030 (Figure 21). Looking at the past 5 years alone, the Town of Wake Forest has certified the construction of 524 new multifamily units, 778 single-family attached units, and 2,830 new single-family units since 2016, increasing the total housing stock by 41%.
70%
15%
15%
Single Family Detached
Single Family Attached
Multifamily
Source: Town of Wake Forest Planning & Inspections Department
FIGURE 21: HOUSING UNIT DEVELOPMENT IN WAKE FOREST 2000-2030
THE TAKEAWAY
The character of Wake Forest’s housing stock, albeit relatively young, has diversified in recent years as more single-family attached, or townhome, units are being built.
2000
2010
2020
2030
(Projected)
Source: Town of Wake Forest Planning & Inspections Department
19
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