Market Overview
Home Prices in Wake, VA
The median home value in Wake, VA is $353,720 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 3.3% compared to a year ago and up 0.9% from two years prior.
Compared to the U.S. national median of $410,000, homes in Wake are priced14% below average.
Over the past five years, Wake home values have risen by approximately31.4%, reflecting strong long-term appreciation in this market.
Price History
Wake Home Price Trend
2020
$224,703
$225K
—
2021
$269,248
$269K
+19.8%
2022
$307,478
$307K
+14.2%
2023
$321,087
$321K
+4.4%
2024
$339,444
$339K
+5.7%
2025
$342,501
$343K
+0.9%
2026
$353,720
$354K
+3.3%
City Comparison
Wake vs. National Median
🏠 Wake
$353,720
National Median
$410,000
At $353,720, homes in Wake cost 14% below the national median of $410,000. This makes Wake a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Wake?
20% Down Payment
$70,744
on $353,720
Monthly P&I
$1,845/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,343/mo
incl. taxes & insurance
Income Needed
$93,720
gross annual (30% rule)
10% Down Option
$35,372
+ PMI applies
Loan Amount (20% dn)
$282,976
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Wake, VA?
The median home value in Wake is $353,720 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 3.3% year-over-year.
How much have home prices changed in Wake?
Over the past year, home values in Wake have increased by 3.3%. Over five years, prices have risen approximately 31.4%.
How much do I need to earn to buy a home in Wake?
To comfortably afford the median home price of $353,720 with a 20% down payment ($70,744) at today's rates (6.8%), you'd need a gross annual income of approximately $93,720. This assumes keeping total housing costs at or below 30% of gross income.
How does Wake compare to the national average home price?
The national median home value is approximately $410,000. At $353,720, homes in Wake are 14% below the national average.