The typical Wake Forest home was worth $504,021 in September, the 27th monthly dip in a row and 1% below a year ago. Wake County fell 1.7%.
The typical Wake Forest home was worth $504,021 in September. That is $494 less than in August and the 27th monthly dip in a row. The index has not risen since June 2024.
Each month’s drop is small, but they add up. The typical value is $16,016 lower than its June 2024 level of $520,037, a fall of 3.1%. Over the past year it is down $5,030, or 1%.
The figures come from the Zillow Home Value Index, which Zillow Research updated Oct. 16 with September data. The index estimates the value of a typical home in the middle third of the market, smoothed and seasonally adjusted. It is not a sale price.
What it means for you
- Prices are drifting down, not falling sharply. A home bought in fall 2025 is worth about what it was then, give or take 1%.
- The value on your property tax bill comes from Wake County, not Zillow. The county mails new values from its 2027 revaluation in late January; our property taxes page explains rates and appeals.
- Recent sales in town are in our weekly real estate transfers list.
Month by month
| Month | Typical value |
|---|---|
| June 2024 | $520,037 |
| September 2024 | $519,014 |
| September 2025 | $509,051 |
| June 2026 | $505,094 |
| August 2026 | $504,515 |
| September 2026 | $504,021 |
The steepest stretch came in spring and summer 2025, when the index lost about $1,300 to $1,800 a month. Since September 2025 the monthly drops have mostly been under $600.
Zillow revises past months as new sales come in. It now puts August at $504,515, lower than the $507,240 it first published.
How the neighbors compare
Wake Forest fell less than Wake County as a whole. The typical county home lost 1.7% of its value over the year, to $471,020. Raleigh, about 12 miles south, also fell 1.7%.
| Place | September 2026 | Change on the year |
|---|---|---|
| Cary, about 21 miles southwest | $613,395 | -1.3% |
| Wake Forest | $504,021 | -1% |
| Rolesville, about four miles southeast | $491,450 | -1.2% |
| Wake County | $471,020 | -1.7% |
| Raleigh, about 12 miles south | $424,663 | -1.7% |
| Youngsville, about five miles north | $402,880 | -0.9% |
| Wendell, about 15 miles southeast | $365,931 | -1.4% |
| Knightdale, about 12 miles south | $361,028 | -2% |
| Franklin County | $355,924 | -0.3% |
Every place in the table lost value over the year. Wake Forest stays the priciest of its nearby towns outside Cary, about $33,000 above the Wake County figure. Franklin County, which takes in the northern edge of town, fell least.
Zillow’s figure for the 27587 ZIP code, which covers Wake Forest and some land around it, was $504,797 in September, down 0.8% on the year.
Rents
Rents moved the other way. The typical asking rent in Wake Forest was $1,798 a month in September, according to the Zillow Observed Rent Index. That is up 2.9% from $1,747 a year earlier. Asking rents were $1,572 in Raleigh, up 1.3%, and $1,698 in Knightdale, up 2.5%.
The longer view
Today’s slow slide follows a steep climb. The typical Wake Forest home was worth $346,991 in September 2020, so values are still up about 45% in six years. The index peaked at $526,575 in August 2022 and is now 4.3% below that high. The full trend since 2016 is on our Wake Forest home prices page.
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