Low Income Apartments and Affordable Housing For Rent in Wake Forest, NC

Discover affordable housing in Wake Forest where there are 21+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

Turnberry Apartments

755 S White St, Wake Forest, North Carolina 27587

bed 1
payment Subsidized
elderly Senior
accessibility Accessible

Crenshaw Trace

987 Durham Rd, Wake Forest, North Carolina 27587

bed 1-2
switch_access_shortcut Short Wait
accessibility Accessible

Ridgewood Apartments

1018 Wait Avenue, Wake Forest, North Carolina 27587

switch_access_shortcut Short Wait
real_estate_agent Accepts Vouchers

Glen Royal Mill

876 North Main Street, Wake Forest, North Carolina 27587

switch_access_shortcut Short Wait
real_estate_agent Accepts Vouchers

3843 Wild Meadow Lane

3843 Wild Meadow Ln, Wake Forest, North Carolina 27587

bed 3
payment $1955/mo.

932 Big Bend Ct

932 Big Bend Ct, Wake Forest, North Carolina 27587

bed 3
payment $1575/mo.

3620 Willow Stone Ln

3620 Willow Stone Ln, Wake Forest, North Carolina 27587

bed 4
payment $2199/mo.

917 Alba Rose Ave

917 Alba Rose Ave, Wake Forest, North Carolina 27587

bed 4
payment $2260/mo.

1128 Shasta Daisy Dr

1128 Shasta Daisy Dr, Wake Forest, North Carolina 27587

bed 4
payment $2675/mo.

304 Trout Valley Road

304 Trout Valley Rd, Wake Forest, North Carolina 27587

bed 4
payment $2425/mo.

208 N Allen Rd

208 N Allen Rd, Wake Forest, North Carolina 27587

bed 3
payment $1700/mo.
switch_access_shortcut Short Wait
real_estate_agent Accepts Vouchers
real_estate_agent Naturally Affordable

912 Siena Dr

912 Siena Dr, Wake Forest, North Carolina 27587

bed 3
payment $1949/mo.
switch_access_shortcut Short Wait
real_estate_agent Accepts Vouchers
real_estate_agent Naturally Affordable

837 E Wait Ave

837 E Wait Ave, Wake Forest, North Carolina 27587

bed 4
payment $2450/mo.
switch_access_shortcut Short Wait
real_estate_agent Accepts Vouchers
real_estate_agent Naturally Affordable

2104 Longmont Drive

2104 Longmont Dr, Wake Forest, North Carolina 27587

bed 4
payment $2385/mo.
switch_access_shortcut Short Wait
real_estate_agent Accepts Vouchers
real_estate_agent Naturally Affordable

Creekside Apartments

341 S Franklin St, Wake Forest, North Carolina 27587

switch_access_shortcut Short Wait
accessibility Accessible

Royall Mill Apartments

876 N Main St, Wake Forest, North Carolina 27587

switch_access_shortcut Short Wait
accessibility Accessible

Huntington Spring

1887 S Franklin ST, Wake Forest, North Carolina 27587

bed 1-2
switch_access_shortcut Short Wait
accessibility Accessible

Forest Ridge I

320 S Franklin St, Wake Forest, North Carolina 27587

switch_access_shortcut Short Wait
payment Subsidized
real_estate_agent Accepts Vouchers

Ridgewood Apartments

1008 Wait Ave, Wake Forest, North Carolina 27587

switch_access_shortcut Short Wait
accessibility Accessible

Heritage Crossings Senior Apartments

3116 Harpers Ferry Ct, Wake Forest, North Carolina 27587

switch_access_shortcut Short Wait
accessibility Accessible

How To Identify Affordable Housing in Wake Forest, North Carolina

Look for program and preference badges on affordable apartment listings. These badges can help you identify the types of low income housing each apartment offers and if you may be eligbile for rental assistance or reduced rents.

Badge Description
switch_access_shortcut Short Wait
Low income apartments with no or short waiting lists.
payment Subsidized
Low income housing where the rent is subsidized and the renter pays only a portion of total rent.
real_estate_agent Accepts Vouchers
Apartments that accept Section 8 vouchers near you
elderly Senior
Rental housing for seniors who are 55 (or sometimes 62) and older.
payment Income Based
Affordable apartments where the rent paid is based on renter income.
accessibility Accessible
Meets Accessibilty Requirements of the Fair Housing Act, the ADA, or HUD policy.
accessible_forward Disability
Apartments for individuals or families with disabilities.
real_estate_agent Naturally Affordable
Naturally Occuring Affordable Housing - or NOAH - is any housing unit that offers affordable rent without participating in a rent subsidy program.
The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Wake Forest, North Carolina
$31.17/hour
$23.92 (+330%) more than North Carolina minimum wage and $23.92 (+330%) more than the Federal minimum wage.
Learn More About Wake Forest, North Carolina Affordable Housing ↓

How many renters live in Wake Forest, North Carolina?

The City of Wake Forest has people living in households.

There are renters living in renter households in this City. Renters make up 22.25 percent of the population living in Wake Forest.

What is the rental market like in Wake Forest, North Carolina?

There are an estimated housing units in the Wake Forest area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Wake Forest, North Carolina, there are 1.08 rental units.

What is the vacancy rate for rentals in Wake Forest?

The rental vacancy rate in Wake Forest is 6 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.

How many rental units are in Wake Forest for each bedroom size?

Occupied Rental Units by Size in Wake Forest
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
130 766 2,296 769 339
Occupied Rental Units by Size in Wake Forest

A large number of apartments in Wake Forest have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.

How Much Is Rent in Wake Forest

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,427 to $2,711. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $1,427
One BR $1,466
Two BR $1,646
Three BR $2,035
Four BR $2,711
2024 Fair Market Rents in Wake Forest, North Carolina

How many units are rented at Fair Market Rent (FMR) in Wake Forest?

Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.

These are the approximate number of units renting below the FMR in this market:

Unit Size Count of Units Below FMR Percentage of Total Units Below FMR
Studio 104 80 percent
One BR 575 75 percent
Two BR 1,396 61 percent
Rental Units Below FMR in Wake Forest, North Carolina

How many affordable rental units are in Wake Forest?

There are a variety of federal affordable housing programs serving households in Wake Forest, North Carolina including the following:

Federal Program Unit Count
Low Income Housing Tax Credit
Public Housing
Section 202 Supportive Housing for the Elderly
USDA Section 515 Rural Rental Housing
Tracked Units by Federal Program in Wake Forest, North Carolina

Rental units may be funded in part by multiple federal programs.

Income Based Apartments in Wake Forest, North Carolina

Wake Forest features 215 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.

Low Rent Apartments in Wake Forest, North Carolina

There are 416 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Wake Forest.

Housing Choice Vouchers in Wake Forest, North Carolina

On average, Section 8 Housing Choice vouchers pay Wake Forest landlords $600 per month towards rent. The average voucher holder contributes $400 towards rent in Wake Forest.

The maximum amount a voucher would pay on behalf of a low-income tenant in Wake Forest, North Carolina for a two-bedroom apartment is between $1,481 and $1,811.

Sourced from federal housing data and AffordableHousingOnline.com research.