Is Wallace a Good Place to Live?
Based on current data, Wallace receives an overall livability score of 4.2 out of 5.0, earning a grade of A. Key strengths include low unemployment, affordable housing, a low poverty rate, high health insurance coverage. Areas to be aware of include below-average incomes. Wallace stands out as an excellent place to live, with strong marks across most quality-of-life indicators.
Economy & Jobs
The median household income in Wallace is $55,625, 26% below the national average of $75,149. The job market is very strong with unemployment at just 0.0%. Only 5.9% of residents live below the poverty line, well below the national rate of 12.4%. Workers commute an average of 12 minutes, shorter than most U.S. cities.
Cost of Living & Housing
The median home value in Wallace is $101,500, 64% below the national median — offering relatively affordable homeownership. Renters pay a median of $725 per month, below the national average — a plus for affordability. At just 1.8x median income, home prices are very affordable relative to local earnings.
Education
32.9% of residents hold a bachelor's degree, below the national average of 33.7%. 89.2% have completed high school. Area schools have an average test score of 5.8/10.
Climate & Weather
Wallace experiences four distinct seasons with an average temperature of 49°F. Winters average 26°F in January while summers reach 75°F in July. Annual precipitation totals 21.4 inches, including 22.0 inches of snow. Air quality is rated Good with a median AQI of 32.