Housing

 

Housing Unit Estimates
Just as Wake County's population has grown tremendously over the last 25 years, so has its housing supply. Between 1980 and 2000, the U.S. Census Bureau estimates that Wake County added more than 145,000 housing units to its housing stock. As was the case with population growth, Wake County more than doubled its housing stock in only 20 years. By 2000, Wake County had 10 times more housing units than it had in 1940. The American Community Survey estimates that by 2006, Wake County had 325,712 housing units, an increase of nearly 66,000 housing units in six years.

Municipal Growth
Most of this increase was driven by municipal growth. The biggest areas, Raleigh and Cary, added the most new units, but the fastest growing areas were the small towns. Holly Springs increased its housing stock by nearly 1,000%. Morrisville, Knightdale and Apex also increased their housing supply by more than 200% each. Only Garner increased its housing supply at a slower rate than in unincorporated Wake County.

 

2006 Housing units: 325,712 *

2006 Vacancy rate: 9.5% *

2007 Average residential property value: $186,410**

2006 Average household size: 2.58 people/household *

2006 Housing density: 392 units/sq. mile****

*2006 American Community Survey
**Wake County Revenue Department
**** N.C. State Demographer