Wallace, NC
Population 3,438 · North Carolina
About Wallace, NC
Wallace is a small community in North Carolina with a population of 3,438 residents. The median household income is $49,358 per year, which is below the national average. The median age in Wallace is 44.3 years.
Housing in Wallace has a median home value of $192,800 and median monthly rent of $833. Of the 1,859 total housing units, the majority are owner-occupied, with 827 owner-occupied and 813 renter-occupied units.
The unemployment rate in Wallace is 6.2% and the poverty rate is 20.3%. 14.6% of residents hold a bachelor's degree or higher. The average commute time is 20.2 minutes.
Cost of Living in Wallace, NC
Compared to national averages, Wallace has a median household income of $49,358 (34% below the national median of $75,149). Home values average $192,800, which is 21% below the national median. Monthly rent at $833 is 28% below the US average of $1,163. Within North Carolina, Wallace's income is 23% below the state average of $64,468, and home values are 16% below the state median of $228,922.
Why Live in Wallace, NC?
Wallace offers affordable housing with a median home value of $192,800, below the US average of $244,900, and rent that’s lower than the national average at $833/month, and short commute times averaging just 20.2 minutes.
Potential considerations include median household income ($49,358) 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 3,438 with a median age of 44.3 years. Compare Wallace with other cities to see how it stacks up, or explore all cities in North Carolina.
Similar Cities Near Wallace
Cities in North Carolina with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Rural Hall | 3,421 | $50,665 | $183,800 | Compare |
| Windsor | 3,417 | $38,631 | $111,400 | Compare |
| Enochville | 3,392 | $65,328 | $225,200 | Compare |
| Red Oak | 3,372 | $81,464 | $236,200 | Compare |
| Elroy | 3,507 | $54,375 | $120,500 | Compare |
| Lake Park | 3,365 | $76,366 | $296,400 | Compare |
| Mountain Home | 3,518 | $68,750 | $353,200 | Compare |
| River Road | 3,518 | $47,978 | $187,700 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in North Carolina
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, NC?
The population of Wallace, NC is 3,438 according to the latest Census data.
What is the median household income in Wallace?
The median household income in Wallace, NC is $49,358 per year.
What is the median home value in Wallace?
The median home value in Wallace, NC is $192,800.
What is the average rent in Wallace?
The median monthly rent in Wallace, NC is $833.
What is the unemployment rate in Wallace?
The unemployment rate in Wallace, NC is 6.2%.