Living in Wallace, Nebraska
Cost of living, income, home prices, rent and demographics of Wallace · Census data 2020–2024
Wallace has 266 residents with a median age of 56.6. The median household income is $63,125 (17% lower than the Nebraska median), the median home value is $107,900, the median rent is $732/month.
Wallace is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Wallace at a glance
- Population
- 266
- Median age
- 56.6State: 37.2
- Median household income
- $63,125State: $76,475
- Median home value
- $107,900State: $238,600
- Median rent
- $732/moState: $1,072
- Homeowners
- 82.2%
- Bachelor's degree or higher
- 32.4%
- Average commute
- 16 min
Is Wallace a good place to live?
Pros: Home values 55% lower than the state median; an average commute of 16 minutes; a poverty rate of 3%.
Cons: Median household income 17% lower than the Nebraska median; unemployment of 4.5%.
The weather is best in May–June and August–September.
Cost of living in Wallace
Housing is the biggest part of the cost of living. In Wallace the median home value is $107,900, 68% lower than the U.S. median. Renters pay a median of $732 per month, which is 17.5% of household income. Homeowners with a mortgage pay $1,332 a month in housing costs.
Wallace median household income
The median household income in Wallace is $63,125 and the income per person is $33,958. 3% of residents live below the poverty line (Nebraska: 10.6%).
Housing in Wallace: homes for sale and rent
- Housing units
- 141
- Owner-occupied
- 82.2%
- Renter-occupied
- 17.8%
- Vacant
- 16.3%Includes seasonal homes
- Median year built
- 1951
- Average household size
- 2.25
Wallace demographics
- Population
- 266
- Median age
- 56.6
- Under 18
- 16.5%
- 65 and older
- 37.6%
- Households
- 118
- Foreign-born
- 5.3%
- Veterans
- 11.3%Adults 18+
Hispanic or Latino can be of any race. Population history of Wallace ›
Education in Wallace
32.4% of adults 25 and older in Wallace have a bachelor's degree or higher (Nebraska: 34.6%), and 4.6% have a graduate or professional degree.
Jobs and commute in Wallace
- Unemployment rate
- 4.5%State: 3%
- Average commute
- 16 minState: 19 min
- Work from home
- 5.8%
- Drive alone
- 81.7%
- Public transit
- 0%
- Walk to work
- 3.8%
- Homes with broadband
- 78%
Wallace vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Wallace | 266 | $63,125 | $107,900 | $732 |
| Elsie | 139 | $48,333 | $70,000 | $620 |
| Madrid | 226 | $75,000 | $91,300 | — |
| Paxton | 622 | $66,875 | $131,300 | $848 |
| Sutherland | 1,209 | $72,857 | $188,200 | $572 |
| Hayes Center | 297 | $58,750 | $85,600 | $763 |
| Hershey | 724 | $91,458 | $172,000 | $783 |
| Grant | 1,413 | $71,389 | $154,600 | $971 |
| North Platte | 22,831 | $58,097 | $169,100 | $921 |
More for people moving to Wallace
Wallace ZIP code ›Weather and climate ›Living in Wallace: FAQ
What is the median household income in Wallace, NE?
The median household income in Wallace is $63,125, 17% lower than the Nebraska median of $76,475 (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 $107,900, compared with $238,600 in Nebraska.
How much is rent in Wallace?
The median gross rent in Wallace is $732 per month, about 17.5% of household income.
Is Wallace, NE a good place to live?
Pluses: home values 55% lower than the state median; an average commute of 16 minutes; a poverty rate of 3%. Minuses: median household income 17% lower than the Nebraska median; unemployment of 4.5%.
What is the median age in Wallace?
The median age in Wallace is 56.6 years (Nebraska: 37.2).
How long is the commute in Wallace?
The average commute to work in Wallace is 16 minutes; 5.8% of workers work from home.
What is the unemployment rate in Wallace?
The unemployment rate in Wallace is 4.5% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Wallace?
32.4% 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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