Wake Forest University

Enrollment

Of 9,322 students enrolled in fall 2024, 5,490 were undergraduates and 3,832 graduate students. 13% studied exclusively online, students who don't need a bed near campus. Headcount rose by 201 from fall 2023 (+2.2%).

Housing the college controls

IPEDS counts 3,949 beds of institutionally controlled housing for 2024-25. That figure is the school's own capacity, on or off campus, so it includes halls the college leases or manages but not private buildings that simply market to students. Capacity shrank by 155 beds from the year before (4,104 in 2023-24).

What students pay

The typical 2024-25 housing charge for a student sharing a room was $11,650 for the academic year, roughly $1,294 a month spread over nine months. Food added $9,662. For aid purposes the school budgets $18,494 for food and housing on campus and $18,494 for a student living off campus away from family, the same amount.

Those are the college's own figures. Private by-the-bed rents near campus can sit well above or below them, so check current asking rents before you underwrite a project.

How lenders read a campus like this

At 9,322 students the campus is below the 10,000-student minimum in Fannie Mae's Multifamily Guide for Dedicated Student Housing (Part III, Chapter 1, section 103.01). Freddie Mac has no stated enrollment floor, but its own product summary says most of its student housing loans are at schools with 15,000 or more students. Banks, debt funds and conventional multifamily programs are the likelier lenders here.

To size a specific property, use the student housing loan sizer. It works by the bed and shows which constraint sets the loan.

Among the 18 North Carolina campuses on this site, Wake Forest University ranks number 11 by full-time students beyond college housing. See the North Carolina table.

Other campuses in Winston-Salem

• Winston-Salem State University: 4,126 full-time, 2,778 beds