Cost of Living in Wake Forest, NC
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
168.4
100 = national avg
+68.4 vs national average
Living Wage (1 Adult)
$74,075
per year
Living Wage (Family of 4)
$175,086
per year
Cost Index by Category
Housing183.0
Food142.3
Transportation184.6
Healthcare133.9
Utilities142.0
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,596
per month
2 Bedroom
$1,750
per month
The overall cost of living index in Wake Forest is 168.4, which is 68.4% above the national average. Housing costs are above the national average at an index of 183.0. A single adult needs to earn approximately $74,075 per year to cover basic expenses.