I had to look this up, but Wake is completely non-ranked, including internal rankings. It's one of the few truly P/F schools (at least this was what I found on the spreadsheet that compared all the schools). I probably looked at Hofstra as well, but I can't remember what it said about them. I even looked up all the stuff about AOA and might be able to pass that info on if I can find it again. Basically, it's true P/F.
First, I'm going to agree with others that it sounds like you want to go to Hofstra. Where are you from and where you wish to practice will be the most important aspects of this decision.
I'm in at WF and WL at Hofstra, but will likely withdraw this week. The decision for me - between the two - is fairly personal, but I'll give you my take on what's important to me. First, I'm from the south, love the south, and plan to stay in the south if possible. I like warm weather, the sun, and being outdoors. I LOVE North Carolina and WF's proximity to things like hiking, rock climbing, and my parents' house near the Smokey Mountains. I also like that WF records their lectures as I'm an auditory learner and I'll likely be listening to the recordings on my drive to school, and while at home. My husband went to school in SC and would love to be in NC, so that's a win for the SO, as well. WF also has case-based learning throughout the year, which helps people like me (and you) who are self-driven learners. But I like that it's not ONLY case based learning - it's combo of both lectures and group. I'm not sure how concerned we should be about step scores as just about everyone says that step scores often depend on how much the students put in to learning, so I've been told that as someone with a higher MCAT score, I can probably do fine if I put the time in. I do, however, wish they had just a few additional weeks of step prep. And, like you, we plan to purchase a house. I have a friend who is doing a residency with Hofstra and housing there is ridiculously expensive. So these are all the huge pros for me.
However, if you like the northeast and hope to practice up there, Northwell is very established and will not close any doors for you, so that can be a great system. Rentals are not all that much more expensive on LI, and if you like NYC, it's very close and will give you the option of going in on the weekend without being stuck living there. Also, I've heard Hofstra is pretty generous with aid, so you might get lucky (or you could negotiate for more). Also, completely ignore average student indebtedness - that gives you a sense of how much aid the school gives out overall, but has nothing to do with your particular situation. With the scholarship WF has given you, and, if you can purchase a house in Winston-Salem (which, let's admit, would be dirt cheap and super cute), your COA would be the remaining tuition and food and transportation. It's not going to be the average for the school. On the other hand, if you love Hofstra, let them know about your scholarship and see if they can match it.
Also, how much further from SO are we talking? If it's 6 hours one way, 8 hours another, I'd say it's a wash. if it's significantly closer one way and not as much the other, I'd definitely consider getting closer to SO. BUT - again, these all add up to the full picture. I've been told by a few people to look at everything as objectively as possible in the beginning, but if there's no obvious winner, go with your instinct as there's probably some subconscious reason you like one more than the other.