Home Value
$65,900
77% lower than US avg
Bachelor's+
5.9%
82% lower than US avg
Unemployment
0.0%
100% lower than US avg
Poverty Rate
27.8%
124% higher than US avg
How Wallace Compares to the U.S. Average (100% = U.S. avg)
People
Population54
Median Age60.5 yrs
Density135/mi²
Male / Female59% / 41%
Largest GroupWhite 76%
Veterans54.0%
Economy
Median IncomeN/A
Per Capita$26,633
Unemployment0.0%
Poverty27.8%
County GDP$146M
Commute14 min
Housing
Home Value$65,900
RentN/A
OwnershipN/A
Climate
Avg Temp52°F (11°C)
AQI39 (Good)
Rain20.7 in/yr
Elevation3,313 ft (1,010 m)
Education
F
Bachelor's+5.9%
High School+96.1%
School Score6.61
Community
2024 VoteR 92% / D 7%
Commute14 min
Broadband28.0%
Libraries1
Is Wallace a Good Place to Live?
Based on current data, Wallace receives an overall livability score of 1.5 out of 5.0, earning a grade of D. Key strengths include low unemployment, affordable housing. Areas to be aware of include an elevated poverty rate. Wallace faces significant challenges across several quality-of-life categories.
Economy & Jobs
The job market is very strong with unemployment at just 0.0%. The poverty rate of 27.8% exceeds the national average of 12.4%, indicating economic hardship for a significant portion of the population. Workers commute an average of 14 minutes, shorter than most U.S. cities.
Cost of Living & Housing
The median home value in Wallace is $65,900, 77% below the national median — offering relatively affordable homeownership.
Education
5.9% of residents hold a bachelor's degree, below the national average of 33.7%. 96.1% have completed high school. Local schools score 6.6/10 in standardized testing, reflecting strong academic performance.
Climate & Weather
Wallace experiences four distinct seasons with an average temperature of 52°F. Winters average 30°F in January while summers reach 77°F in July. Annual precipitation totals 20.7 inches, including 23.2 inches of snow. Air quality is rated Good with a median AQI of 39.
Wallace has a population of 54 with a density of 135 people per square mile. The median age is 60.5 years, 56% older than the national median of 38.9. The city is predominantly White (75.9%).
Population
60.5yrs
Median Age
56% above US avg
Language Spoken at Home
| English Only | 100.0% |
| 27% above US avg |
| Spanish | 0.0% |
| 100% below US avg |
The median household income in Wallace is N/A. The unemployment rate is 0.0% (below the 3.6% US average). 27.8% of residents live below the poverty line. Workers commute an average of 14 minutes.
Income
| |
| Per Capita Income | $26,633 |
| Avg Weekly Wage | $769 |
| IRS Avg AGI | $70,569 |
Employment & Poverty
| Unemployment | 0.0% |
| 100% below US avg |
| Poverty Rate | 27.8% |
| 124% above US avg |
| Establishments (County) | 95 |
| County GDP | $146M |
Business (County)
| Restaurants | 4 |
| Healthcare | 5 |
| Retail | 10 |
Commute & Transportation
| Commute Time | 14.4 min |
| Drive Alone | 100.0% |
| Public Transit | 0.0% |
| Work from Home | 0.0% |
The median home value in Wallace is $65,900, 77% below the national average.
Home Values
| Census Median | $65,900 |
| 77% below US avg |
Real Estate Market (Redfin)
Rental Costs
HUD Fair Market Rent
| Studio | $643 |
| 1 Bedroom | $758 |
| 2 Bedrooms | $877 |
| 3 Bedrooms | $1,220 |
| 4 Bedrooms | $1,276 |
Ownership & Property
Property Tax
Wallace has an average annual temperature of 52°F (11°C). Winters average 30°F in January while summers reach 77°F in July. Annual precipitation is 20.7 inches. Air quality is rated Good with a median AQI of 39.
Temperature
30°F Jan (-1°C)
77°F Jul (25°C)
| Annual Average | 52.4°F |
| 3% below US avg |
| January Average | 30°F (-1°C) |
| July Average | 77°F (25°C) |
Precipitation & Snow
| Annual Rainfall | 20.7 inches |
| 45% below US avg |
| Snowfall | 23.2 inches/yr |
Air Quality
| AQI Median | 39.0 |
| Rating | Good |
Geography
| Elevation | 3,313 ft (1,010 m) |
| Area | 0.4 sq mi (1.0 km²) |
| Population Density | 135/sq mi |
| Coordinates | 38.9127°N, 101.5930°W |
| Timezone | America/Chicago |
| County FIPS | 20199 |