Living in Wallace, South Dakota
Cost of living, income, home prices, rent and demographics of Wallace · Census data 2020–2024
Wallace has 66 residents with a median age of 46. The median household income is $55,000 (27% lower than the South Dakota median), the median home value is $86,700, the median rent is $550/month.
Wallace is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Wallace at a glance
- Population
- 66
- Median age
- 46State: 38
- Median household income
- $55,000State: $75,081
- Median home value
- $86,700State: $257,400
- Median rent
- $550/moState: $946
- Homeowners
- 75%
- Bachelor's degree or higher
- 16.7%
- Average commute
- 40 min
Is Wallace a good place to live?
Pros: Home values 66% lower than the state median; a poverty rate of 4.5%.
Cons: Median household income 27% lower than the South Dakota median; an average commute of 40 minutes.
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 $86,700, 74% lower than the U.S. median. Renters pay a median of $550 per month, which is 20% of household income. Homeowners with a mortgage pay — a month in housing costs.
Wallace median household income
The median household income in Wallace is $55,000 and the income per person is $21,814. 4.5% of residents live below the poverty line (South Dakota: 11.9%).
Housing in Wallace: homes for sale and rent
- Housing units
- 39
- Owner-occupied
- 75%
- Renter-occupied
- 25%
- Vacant
- 38.5%Includes seasonal homes
- Median year built
- 1938
- Average household size
- 2.75
38.5% of homes are vacant most of the year, a sign that Wallace has many vacation and second homes.
Wallace demographics
- Population
- 66
- Median age
- 46
- Under 18
- 36.4%
- 65 and older
- 30.3%
- Households
- 24
- Foreign-born
- 0%
- Veterans
- 16.7%Adults 18+
Hispanic or Latino can be of any race. Population history of Wallace ›
Education in Wallace
16.7% of adults 25 and older in Wallace have a bachelor's degree or higher (South Dakota: 31.9%), and 0% have a graduate or professional degree.
Jobs and commute in Wallace
- Unemployment rate
- 0%State: 2.9%
- Average commute
- 40 minState: 18 min
- Work from home
- 0%
- Drive alone
- 62.5%
- Public transit
- 0%
- Walk to work
- 0%
- Homes with broadband
- 75%
Wallace vs nearby towns
More for people moving to Wallace
Wallace ZIP code ›Weather and climate ›Living in Wallace: FAQ
What is the median household income in Wallace, SD?
The median household income in Wallace is $55,000, 27% lower than the South Dakota median of $75,081 (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 $86,700, compared with $257,400 in South Dakota.
How much is rent in Wallace?
The median gross rent in Wallace is $550 per month, about 20% of household income.
Is Wallace, SD a good place to live?
Pluses: home values 66% lower than the state median; a poverty rate of 4.5%. Minuses: median household income 27% lower than the South Dakota median; an average commute of 40 minutes.
What is the median age in Wallace?
The median age in Wallace is 46 years (South Dakota: 38).
How long is the commute in Wallace?
The average commute to work in Wallace is 40 minutes; 0% of workers work from home.
What is the unemployment rate in Wallace?
The unemployment rate in Wallace is 0% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Wallace?
16.7% 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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