Wake Forest is a town in Wake County in the U.S. state of North Carolina. Located just north of the state capital, Raleigh, it is the home of the Southeastern Baptist Theological Seminary. The population was 12,588 at the 2000 census. In 2007, the estimated population was 22,324. In 2007, the town was listed by Forbes Magazine as the 20th fastest growing suburb in America, with a 73.2 percent increase in population between 2000 and 2006. Wake Forest was the original home of Wake Forest University for 122 years before it moved to Winston-Salem in 1956.