Living in Wallace, Idaho
Cost of living, income, home prices, rent and demographics of Wallace · Census data 2020–2024
Wallace has 1,027 residents with a median age of 47. The median household income is $51,492 (34% lower than the Idaho median), the median home value is $232,700, the median rent is $727/month.
Wallace is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Wallace at a glance
- Population
- 1,027
- Median age
- 47State: 37.3
- Median household income
- $51,492State: $77,800
- Median home value
- $232,700State: $418,600
- Median rent
- $727/moState: $1,238
- Homeowners
- 57.6%
- Bachelor's degree or higher
- 19.6%
- Average commute
- 18 min
Is Wallace a good place to live?
Pros: Home values 44% lower than the state median; an average commute of 18 minutes.
Cons: Median household income 34% lower than the Idaho median; unemployment of 5.7%; a poverty rate of 20.1%.
The weather is best in June to September.
Cost of living in Wallace
Housing is the biggest part of the cost of living. In Wallace the median home value is $232,700, 30% lower than the U.S. median. Renters pay a median of $727 per month, which is 30.1% of household income. Homeowners with a mortgage pay $1,511 a month in housing costs.
Wallace median household income
The median household income in Wallace is $51,492 and the income per person is $30,346. 20.1% of residents live below the poverty line (Idaho: 10.6%).
Housing in Wallace: homes for sale and rent
- Housing units
- 626
- Owner-occupied
- 57.6%
- Renter-occupied
- 42.4%
- Vacant
- 33.4%Includes seasonal homes
- Median year built
- 1938
- Average household size
- 2.41
33.4% of homes are vacant most of the year, a sign that Wallace has many vacation and second homes.
Wallace demographics
- Population
- 1,027
- Median age
- 47
- Under 18
- 17.7%
- 65 and older
- 19.1%
- Households
- 417
- Foreign-born
- 2.8%
- Veterans
- 12.3%Adults 18+
Hispanic or Latino can be of any race. Population history of Wallace ›
Education in Wallace
19.6% of adults 25 and older in Wallace have a bachelor's degree or higher (Idaho: 31.8%), and 4.4% have a graduate or professional degree.
Jobs and commute in Wallace
- Unemployment rate
- 5.7%State: 3.7%
- Average commute
- 18 minState: 22 min
- Work from home
- 12.8%
- Drive alone
- 64.5%
- Public transit
- 0%
- Walk to work
- 15.4%
- Homes with broadband
- 94.2%
Wallace vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Wallace | 1,027 | $51,492 | $232,700 | $727 |
| Silverton | 652 | $90,074 | $286,800 | — |
| Osburn | 1,620 | $50,673 | $205,900 | $902 |
| Mullan | 890 | $68,125 | $210,600 | $1,250 |
| Wardner | 281 | $37,122 | $312,500 | $1,125 |
| Kellogg | 2,307 | $50,625 | $250,600 | $989 |
| Smelterville | 668 | $48,806 | $154,400 | $815 |
| Pinehurst | 2,120 | $68,676 | $291,900 | $915 |
| Thompson Falls | 1,500 | $46,313 | $266,400 | $543 |
More for people moving to Wallace
Wallace ZIP code ›Weather and climate ›Living in Wallace: FAQ
What is the median household income in Wallace, ID?
The median household income in Wallace is $51,492, 34% lower than the Idaho median of $77,800 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Wallace?
The median home value in Wallace is $232,700, compared with $418,600 in Idaho.
How much is rent in Wallace?
The median gross rent in Wallace is $727 per month, about 30.1% of household income.
Is Wallace, ID a good place to live?
Pluses: home values 44% lower than the state median; an average commute of 18 minutes. Minuses: median household income 34% lower than the Idaho median; unemployment of 5.7%; a poverty rate of 20.1%.
What is the median age in Wallace?
The median age in Wallace is 47 years (Idaho: 37.3).
How long is the commute in Wallace?
The average commute to work in Wallace is 18 minutes; 12.8% of workers work from home.
What is the unemployment rate in Wallace?
The unemployment rate in Wallace is 5.7% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Wallace?
19.6% of adults in Wallace have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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