Wake Forest, a neighborhood in Winston-Salem, North Carolina, exhibits characteristics of a White Majority community with moderate diversity as of 2022. The white population constitutes 65% of the neighborhood, with Black (22%) and Asian (9%) populations comprising significant minorities. Over the past decade, Wake Forest has transitioned from a low-income area to an upper-middle-income suburb, experiencing notable demographic and economic shifts.

Wake Forest has undergone a significant transformation in its racial composition over the past decade. In 2013, the neighborhood had Low Diversity, with a white population of 73%. By 2022, it evolved into a Moderate Diversity community, with the white population decreasing to 65% and increases in Black and Asian populations. The most dramatic shift occurred between 2016 and 2018, when the neighborhood transitioned from a White Majority (68% in 2016) to a Transitional Community. During this period, the Black population increased from 17% to 21%, and the Asian population grew from 8% to 10%.

The economic trajectory of Wake Forest has been closely tied to its demographic changes. In 2013, the median income was $17,405, indicating a low-income neighborhood. By 2017, it increased to $124,857, signaling a dramatic transformation in the neighborhood's economic profile. This economic shift coincides with the period of increased racial diversity. The median income has since stabilized, settling at $77,002 in 2022, which still represents a substantial increase from a decade ago.