Wallace, FL
Population 3,965 · Florida
About Wallace, FL
Wallace is a small community in Florida with a population of 3,965 residents. The median household income is $115,216 per year, which is above the national average. The median age in Wallace is 35.9 years.
Housing in Wallace has a median home value of $377,600 and median monthly rent of $1,394. Of the 1,353 total housing units, the majority are owner-occupied, with 1,271 owner-occupied and 82 renter-occupied units.
The unemployment rate in Wallace is 0.1% and the poverty rate is 7.1%. 48.6% of residents hold a bachelor's degree or higher. The average commute time is 42.3 minutes.
How Wallace Ranks in Florida
Cost of Living in Wallace, FL
Compared to national averages, Wallace has a median household income of $115,216 (53% above the national median of $75,149). Home values average $377,600, which is 54% above the national median. Monthly rent at $1,394 is 20% above the US average of $1,163. Within Florida, Wallace's income is 52% above the state average of $75,893, and home values are 7% above the state median of $353,675.
Why Live in Wallace, FL?
Wallace offers a strong local economy with a median household income of $115,216, well above the national average, and a strong job market with an unemployment rate of just 0.1%, and a well-educated community where 48.6% of residents hold a bachelor’s degree or higher. Additionally, the city features a low poverty rate of 7.1%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $377,600. However, Wallace’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Wallace has a population of 3,965 with a median age of 35.9 years. Compare Wallace with other cities to see how it stacks up, or explore all cities in Florida.
Similar Cities Near Wallace
Cities in Florida with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Tangerine | 3,967 | $104,730 | $410,600 | Compare |
| Madeira Beach | 3,937 | $79,798 | $696,400 | Compare |
| Flagler Estates | 3,934 | $73,016 | $188,000 | Compare |
| Pea Ridge | 3,934 | $60,350 | $217,200 | Compare |
| Pine Manor | 3,929 | $45,610 | $270,600 | Compare |
| West Bradenton | 4,017 | $110,072 | $384,100 | Compare |
| Mary Esther | 4,034 | $76,510 | $255,300 | Compare |
| Tierra Verde | 4,051 | $148,785 | $767,900 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Florida
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Wallace
What is the population of Wallace, FL?
The population of Wallace, FL is 3,965 according to the latest Census data.
What is the median household income in Wallace?
The median household income in Wallace, FL is $115,216 per year.
What is the median home value in Wallace?
The median home value in Wallace, FL is $377,600.
What is the average rent in Wallace?
The median monthly rent in Wallace, FL is $1,394.
What is the unemployment rate in Wallace?
The unemployment rate in Wallace, FL is 0.1%.