Wallace, ID
Population 1,127 · Idaho
About Wallace, ID
Wallace is a small town located in Idaho with a population of 1,127 residents according to the latest US Census Bureau American Community Survey data. The median household income is $50,526 per year, which is 33% below the national median of $75,149. The median age of 40.7 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Wallace features a median home value of $219,200, which is 10% below the national median of $244,900. This positions Wallace in a moderately priced market relative to the rest of the country. Median monthly rent is $731, 37% below the national average of $1,163/month. Of the 647 total housing units, 53% are owner-occupied (222 units) and 47% are renter-occupied (200 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Wallace shows an unemployment rate of 5.6%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 20.2%, above the national average of 12.4%. Workers in Wallace have an average one-way commute time of 19 minutes, one of the shorter commutes in the region.
Education & Demographics
18.7% of Wallace residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 5.5% White, 2.9% Hispanic or Latino, 0.0% Black or African American, and 0.5% Asian residents, with 2.8% of the population being foreign-born.
How Wallace Ranks in Idaho
Cost of Living in Wallace, ID
Compared to national averages, Wallace has a median household income of $50,526 (33% below the national median of $75,149). Home values average $219,200, which is 10% below the national median. Monthly rent at $731 is 37% below the US average of $1,163. Within Idaho, Wallace's income is 22% below the state average of $65,190, and home values are 20% below the state median of $274,721.
Why Live in Wallace, ID?
Wallace offers affordable housing with a median home value of $219,200, below the US average of $244,900, and rent that’s lower than the national average at $731/month, and short commute times averaging just 19 minutes.
Potential considerations include median household income ($50,526) that falls below the national average. However, Wallace’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Wallace has a population of 1,127 with a median age of 40.7 years. Compare Wallace with other cities to see how it stacks up, or explore all cities in Idaho.
Similar Cities Near Wallace
Cities in Idaho with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Riverside | 1,126 | $103,125 | $241,500 | Compare |
| Cottonwood | 1,138 | $56,250 | $206,800 | Compare |
| Greenleaf | 1,152 | $64,375 | $339,600 | Compare |
| Kootenai | 1,076 | $69,457 | $306,200 | Compare |
| Carey | 1,197 | $50,938 | $209,200 | Compare |
| Hagerman | 1,198 | $59,250 | $189,600 | Compare |
| Plummer | 1,055 | $52,188 | $163,800 | Compare |
| Kamiah | 1,053 | $35,433 | $202,800 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Idaho
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Wallace With Other Cities
Frequently Asked Questions about Wallace
What is the population of Wallace, ID?
The population of Wallace, ID is 1,127 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Idaho.
What is the median household income in Wallace?
The median household income in Wallace, ID is $50,526 per year, which is 33% below the national median of $75,149.
What is the median home value in Wallace?
The median home value in Wallace, ID is $219,200, which is 10% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Wallace?
The median monthly rent in Wallace, ID is $731, which is 37% below the national average of $1,163/month.
What is the unemployment rate in Wallace?
The unemployment rate in Wallace, ID is 5.6%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Wallace, ID a good place to live?
Wallace offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 1,127 and a median age of 40.7, the city appeals to a broad range of residents.
How educated is Wallace, ID?
18.7% of residents in Wallace aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Wallace?
Key cost-of-living indicators for Wallace, ID: median home value is $219,200 (10% below national), median rent is $731/month, and median household income is $50,526. The home-value-to-income ratio is 4.3x, a moderate figure by national standards.
What is the poverty rate in Wallace?
The poverty rate in Wallace, ID is 20.2%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Wallace, ID?
Wallace's population is 5.5% White, 2.9% Hispanic or Latino, 0.0% Black or African American, 0.5% Asian, and 0.7% two or more races. 2.8% of residents are foreign-born.