Wolfe was born in Metairie, Louisiana. Her sister, Meghan, is also an actress.
Wolfe made her film debut in the adventure drama film On The Road portraying the role of Dodie Lee. She then appeared in The Campaign and Devil's Due. Wolfe appeared in Joy as the younger version of Elisabeth Röhm's character.
She then appeared in The Conjuring 2, directed by James Wan. The film was released on June 10, 2016. She starred in I Kill Giants opposite Zoe Saldana directed by Anders Walter.