EXISTING CONDITIONS: POPULATION
HOUSING AFFORDABILITY PLAN | Town of Wake Forest
Local Demographics
FIGURE 2: COMPARATIVE POPULATION PERCENTAGE GROWTH 2010-2020
The Triangle region's appeal has had a substantial impact on Wake Forest's population growth. Local Population Growth Wake Forest is located in the northeastern corner of Wake County, with a small portion in Franklin County. Like many of the suburban communities in the region, Wake Forest is substantially impacted by the region’s population growth (Figure 2). Wake Forest’s population has grown by 55% since 2010, faster than both Wake County (25%) and the State (9%). In 1990, Wake Forest’s population was 5,769. Today, the population exceeds 47,601, almost ten times the population thirty years ago (Figure 3). Further, over 60% of residents have moved to the Town since 2010. This recent influx of residents has put substantial pressure on Wake Forest’s housing market to grow quickly to meet demand.
55%
25%
9%
Wake Forest
Wake County
North Carolina
Source: Decennial Census, 2020
FIGURE 3: POPULATION GROWTH IN WAKE FOREST 1990-2020
THE TAKEAWAY
1990
2000
2010
2020
Wake Forest’s explosive population growth has outpaced both Wake County and the State’s growth since 2010. These trends put substantial pressure on Wake Forest’s housing market to keep pace.
Source: Decennial Census, 1990-2020
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