Wallace, IN
Full City Profile · Indiana · Parke County County
3.8
/5.0
B+
Good
136
Population
971/sq mi density
$65,625
Median Income
$26,001 per capita
$92,500
Home Value
$141,057 Zillow
52°F
Avg Temperature
B+
Overall
3.8 / 5.0
Good overall score based on economy, affordability, safety and education
A
Economy
4.3 / 5.0
$65,625 median income, 1.3% unemployment
A+
Affordability
5.0 / 5.0
$92,500 home value, /mo rent
C
Education
2.0 / 5.0
12.9% bachelor's degree or higher
Wallace experiences four distinct seasons with an average annual temperature of 52°F (11°C). Winters average 27°F in January while summers reach 74°F in July. Annual precipitation totals 43.6 inches. The area receives 27.7 inches of snow annually.
Temperature
27°F Jan (-3°C)
74°F Jul (23°C)
| Annual Average | 52.0°F |
| 4% below US avg | |
| January Average | 27°F (-3°C) |
| July Average | 74°F (23°C) |
Geography
| Elevation | 704 ft (215 m) |
| Area | 0.1 sq mi (0.2 km²) |
| Population Density | 971/sq mi |
| Coordinates | 39.9871°N, 87.1471°W |
| Timezone | America/Indiana/Indianapolis |
| County | Parke County County |
| Nearest Airport | Vermilion Regional (DNV) 28 miles away |
Precipitation & Snow
Air Quality
Natural Hazard Risk
| Overall Risk | Very Low |
| Risk Score | 27.6 / 100 |
| Social Vulnerability | 58.5 / 100 |
| Community Resilience | 43.6 / 100 |
Hazard Breakdown
| Tornado | Relatively Low |
| Hurricane | Very Low |
| Earthquake | Relatively Low |
| Wildfire | Very Low |
| Flood | Very Low |
| Hail | Relatively Low |
| Strong Wind | Relatively Low |
| Heat Wave | Relatively Low |
| Winter Weather | Relatively Low |
| Lightning | Relatively Low |
| Ice Storm | Relatively Low |
| Drought | Relatively Moderate |
| Cold Wave | Relatively Low |
| Landslide | Relatively Low |
Source: FEMA National Risk Index v1.20 (Dec 2025)
Monthly Weather
| Month | Avg Temperature | Precipitation | Summary |
|---|---|---|---|
| January | 27°F (-3°C) | 2.9 in | Coldest |
| February | 31°F (-1°C) | 2.8 in | Driest |
| March | 41°F (5°C) | 3.3 in | |
| April | 53°F (12°C) | 4.7 in | |
| May | 63°F (17°C) | 4.7 in | |
| June | 71°F (22°C) | 5.1 in | Wettest |
| July | 74°F (23°C) | 3.9 in | Warmest |
| August | 72°F (22°C) | 2.8 in | |
| September | 66°F (19°C) | 3.0 in | |
| October | 54°F (12°C) | 3.5 in | |
| November | 42°F (5°C) | 3.8 in | |
| December | 31°F (-1°C) | 3.1 in |
Wallace has a seasonal temperature swing of 47°F / from 27°F in January to 74°F in July. Total annual precipitation is 43.6 inches, with June being the wettest month (5.1") and February the driest (2.8").