Wallace, NE
Population 272 · Nebraska
About Wallace, NE
Wallace is a small community in Nebraska with a population of 272 residents. The median household income is $55,625 per year, which is near the national average. The median age in Wallace is 53.5 years.
Housing in Wallace has a median home value of $101,500 and median monthly rent of $725. Of the 144 total housing units, the majority are owner-occupied, with 91 owner-occupied and 24 renter-occupied units.
The unemployment rate in Wallace is 0.0% and the poverty rate is 3.3%. 32.9% of residents hold a bachelor's degree or higher. The average commute time is 12.3 minutes.
Cost of Living in Wallace, NE
Compared to national averages, Wallace has a median household income of $55,625 (26% below the national median of $75,149). Home values average $101,500, which is 59% below the national median. Monthly rent at $725 is 38% below the US average of $1,163. Within Nebraska, Wallace's income is 16% below the state average of $65,895, and home values are 19% below the state median of $125,824.
Why Live in Wallace, NE?
Wallace offers affordable housing with a median home value of $101,500, below the US average of $244,900, and rent that’s lower than the national average at $725/month, and a strong job market with an unemployment rate of just 0.0%. Additionally, the city features a low poverty rate of 3.3%, better than the national average, and short commute times averaging just 12.3 minutes.
Potential considerations include median household income ($55,625) 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 272 with a median age of 53.5 years. Compare Wallace with other cities to see how it stacks up, or explore all cities in Nebraska.
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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, NE?
The population of Wallace, NE is 272 according to the latest Census data.
What is the median household income in Wallace?
The median household income in Wallace, NE is $55,625 per year.
What is the median home value in Wallace?
The median home value in Wallace, NE is $101,500.
What is the average rent in Wallace?
The median monthly rent in Wallace, NE is $725.
What is the unemployment rate in Wallace?
The unemployment rate in Wallace, NE is 0.0%.