Wallace, ID
Population 1,127 · Idaho
About Wallace, ID
Wallace is a small community in Idaho with a population of 1,127 residents. The median household income is $50,526 per year, which is near the national average. The median age in Wallace is 40.7 years.
Housing in Wallace has a median home value of $219,200 and median monthly rent of $731. Of the 647 total housing units, the majority are owner-occupied, with 222 owner-occupied and 200 renter-occupied units.
The unemployment rate in Wallace is 5.6% and the poverty rate is 20.2%. 18.7% of residents hold a bachelor's degree or higher. The average commute time is 19 minutes.
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.
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Frequently Asked Questions about Wallace
What is the population of Wallace, ID?
The population of Wallace, ID is 1,127 according to the latest Census data.
What is the median household income in Wallace?
The median household income in Wallace, ID is $50,526 per year.
What is the median home value in Wallace?
The median home value in Wallace, ID is $219,200.
What is the average rent in Wallace?
The median monthly rent in Wallace, ID is $731.
What is the unemployment rate in Wallace?
The unemployment rate in Wallace, ID is 5.6%.