Rent vs buy in Wake Forest, NC
In Wake Forest, North Carolina, the typical rent is $1,798 /mo and the typical home price is $504,021.
Renting comes out $81k ahead over 7 years
Today's mortgage rate and 20% down are included with typical rent and home value for Wake Forest's calculation. No break-even occurs within 30 years.
Clearly labeled opinion, with the math shown. These figures are estimates, not quotes. Adjust any number, and the stamp will change.
- Renting is ahead by
- $81k after 7 years
- Break-even point
- 30+ years owning never catches up sooner
- Actual cost of owning
- $4,324 /mo year 1, against $1,798 rent
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Which costs less in Wake Forest, renting or buying?
Across 7 years, renting costs $80,724 less, including the money you receive when you sell. In every year shown, renting has a lower net cost than owning, and owning never catches up within 30 years.
Renting costs. Owning costs. Year-by-year net cost so far.
Average rent compared with the mortgage payment in Wake Forest
There's more to it than rent and the mortgage. Every monthly cost in year 1 is listed, based on Wake Forest's typical price.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,798 | All of it, every month |
| Mortgage payment | $2,748 | $2,422 of it is interest in year 1 |
| Property tax | $340 | 0.81% of the value a year |
| Insurance | $112 | Census median for the city |
| Upkeep | $420 | 1% of the value a year |
| Owning, cash out | $3,620 | $326 of it builds equity |
| Lost return on the down payment | $819 | Annual earnings on the cash at 8.3% |
| Buying costs, spread out | $210 | 3.5% of the price over 7 years |
| True cost of owning | $4,324 | Cash out, minus equity, plus both amounts listed above |
The figures behind Wake Forest's result
- Typical home valueZillow ZHVI, September 2026
- $504,021
- Typical rentZillow ZORI, September 2026
- $1,798 /mo
- Down payment20% avoids private mortgage insurance, which the engine does not model
- 20%
- Mortgage rateFreddie Mac Primary Mortgage Market Survey (FRED MORTGAGE30US)
- 7.24%
- Home price growthFHFA house price index, North Carolina, 1995 to 2025
- 4.4% a year
- Rent growthCPI rent of primary residence, yearly growth 2006 to 2026
- 3.5% a year
- Return on savings60% S&P 500 with dividends and 40% 10-year Treasuries, rebalanced yearly, 1928 to 2025
- 8.3% a year
- Property taxCensus ACS 2020-2024, Wake Forest
- 0.81% of value
- Home insuranceCensus ACS 2020-2024, Wake Forest
- $112 /mo
- MaintenanceFannie Mae, low end of 1% to 4%
- 1% of value a year
- Buying costsFreddie Mac, middle of 2% to 5%
- 3.5% of price
- Selling costsAgent commission plus closing costs
- 6% of price
In Wake Forest, what would flip it?
Each line marks the point where the verdict for Wake Forest over 7 years changes, while everything else stays as it is.
Renting is better when
- Home prices grow at under 6.3% a year (4.4% is what we use, North Carolina's rate over the long run).
- The mortgage rate stays higher than 4.37%.
- A home like this has a rent under $2,660 a month (the typical figure here is $1,798).
- At these numbers, owning never catches up. This holds whenever you move during the next 30 years.
Buying is better when
- Home prices grow at more than 6.3% a year.
- You secure a mortgage rate under 4.37% (today's is 7.24%).
- The same home would cost more than $2,660 a month to rent.
How Wake Forest compares with the other 812 cities
| Measure | Wake Forest | Median city |
|---|---|---|
| Typical home value | $504,021 | $422,451 |
| Typical rent | $1,798 /mo | $1,837 /mo |
| Price-to-rent ratio | 23.4 (#199 of 813) | 18.5 |
| Home prices, last 10 years | 5.3% a year | 6.2% a year |
| Rents, last 5 years | 2.8% a year | 4% a year |
| Property tax | 0.81% | 0.87% |
| Households that rent | 26% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
More North Carolina cities
- Rent. Charlotte, NC. Renting has the $30k advantage.
- Rent. Raleigh, NC. Renting has the $61k advantage.
- Toss-up. Greensboro, NC. Renting leads by $3k.
- Rent. Durham, NC. Renting has the $40k advantage.
- Buy. Winston-Salem, NC. Buying has the $6k advantage.
- Buy. Fayetteville, NC. Buying has the $9k advantage.
- Rent. Cary, NC. Renting has the $131k advantage.
- Rent. Wilmington, NC. Renting has the $47k advantage.
- Buy. High Point, NC. Buying has the $4k advantage.
- Rent. Concord, NC. Renting has the $20k advantage.
- Buy. Greenville, NC. Buying has the $13k advantage.
- Rent. Asheville, NC. Renting has the $53k advantage.