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Affordable apartments in Wake Forest, North Carolina

7 income-restricted buildings tracked here, drawn from HUD's LIHTC, Section 8, Section 202, and Section 811 datasets. Map, eligibility tiers, and Fair Market Rent below.

7 lihtc

Buildings

HERITAGE CROSSINGS SENIOR APARTMENTS

LIHTC
3134 BRANCH FERRY COURT, WAKE FOREST, NC, 27587
Income-restricted units
120 of 120
Year placed in service
2005
Bedroom mix
20 1BR · 100 2BR

Estimated total housing cost: $1,750 rent + $148 utilities = $1,898/mo

Contact property management for current availability. Waitlists may apply.

HUNTINGTON SPRING

LIHTC
1887 S FRANKLIN STREET, WAKE FOREST, NC, 27587
Income-restricted units
84 of 84
Year placed in service
2015
Bedroom mix
42 1BR · 42 2BR

Estimated total housing cost: $1,750 rent + $148 utilities = $1,898/mo

Contact property management for current availability. Waitlists may apply.

CRENSHAW TRACE

LIHTC
999 DURHAM ROAD, WAKE FOREST, NC, 27587
Income-restricted units
0 of 0
Year placed in service
2021

Estimated total housing cost: $1,750 rent + $148 utilities = $1,898/mo

Contact property management for current availability. Waitlists may apply.

ROYALL MILL APTS

LIHTC
876 N MAIN STREET, WAKE FOREST, NC, 27587
Income-restricted units
56 of 56
Year placed in service
1996
Bedroom mix
11 1BR · 39 2BR · 6 3BR

Estimated total housing cost: $1,750 rent + $148 utilities = $1,898/mo

Contact property management for current availability. Waitlists may apply.

RIDGEWOOD APTS

LIHTC
1018 EAST WAIT AVENUE, WAKE FOREST, NC, 27587
Income-restricted units
50 of 50
Year placed in service
1998
Bedroom mix
30 2BR · 20 3BR

Estimated total housing cost: $1,750 rent + $148 utilities = $1,898/mo

Contact property management for current availability. Waitlists may apply.

EAGLE TRACE APTS

LIHTC
WAKE FOREST, NC
Income-restricted units
40 of 40
Year placed in service
1996
Bedroom mix
24 2BR · 16 3BR

Estimated total housing cost: $1,750 rent + $148 utilities = $1,898/mo

Contact property management for current availability. Waitlists may apply.

CREEKSIDE APTS

LIHTC
361 S FRANKLIN STREET, WAKE FOREST, NC, 27587
Income-restricted units
38 of 38
Year placed in service
2001
Bedroom mix
28 2BR · 10 3BR

Estimated total housing cost: $1,750 rent + $148 utilities = $1,898/mo

Contact property management for current availability. Waitlists may apply.

Map

Each pin is one income-restricted building. Color-coded by program. Click a pin for details.

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Energy costs in North Carolina

Residential electricity in North Carolina runs about 14.30¢/kWh, with a typical monthly residential electric bill near $148. Natural gas runs about $24.75/Mcf. Add this to rent when you compare buildings; it can shift total monthly housing cost by 10–20%.

Source: U.S. Energy Information Administration, retail-sales (electricity) and natural gas residential pricing series, 12-month rolling average.

Check your affordability tier

Enter your annual household income, household size, and zip code. We’ll show which HUD AMI tier you qualify for and what Fair Market Rent looks like in your area.

Fair Market Rent for 27587

Zip-level (SAFMR)
BedroomsLocal FMRNational median
Studio$1,530n/a
1 bedroom$1,600n/a
2 bedroom$1,750$1,502
3 bedroom$2,210n/a
4 bedroom$2,930n/a

Fair Market Rent is HUD’s annual benchmark for the cost of rental housing in a given area. Source label: hud_safmr.

HUD income limits : Wake County, NC

Raleigh-Cary, NC. FY2025. Area median income: $132,700.

Household size30% AMI50% AMI80% AMI
1 person$27,900$46,450$72,950
2 people$31,850$53,100$83,400
3 people$35,850$59,750$93,800
4 people$39,800$66,350$104,200
5 people$43,000$71,700$112,550
6 people$46,200$77,000$120,900
7 people$49,400$82,300$129,250
8 people$54,150$87,600$137,550

HUD calculates income limits per household size relative to the area’s median family income. Properties may serve renters in any combination of these tiers; eligibility is determined per program.

Affordable rentals in nearby North Carolina cities

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About this listing. Buildings shown serve income-restricted households across HUD program tiers. We do not show vacancy or pricing for individual units. Always contact the property directly for current availability; many income-restricted buildings maintain waitlists measured in months or years.

See also: Wake Forest cost-of-living and Fair Market Rent overview