Median Income
$113,221
household / year
Median Home Value
$384,500
owner-occupied
Median Rent
N/A
gross / month
Cost of Living
96
national avg = 100

Is Wallace, FL a Good Place to Live?

Wallace is a small town of 3,652 in Florida, with a median household income of $113,221 . Its cost of living index is 96 (US average = 100), which is 4% below the national average.

Strengths: Wallace stands out for an affordable cost of living, a well-educated population.

Trade-offs: Potential downsides include longer commutes. Whether Wallace is right for you depends on your priorities — the full breakdown is below.

All Wallace city data on this page comes from official government sources — the US Census Bureau, FBI, NCES, BEA, and NOAA — updated annually.

Cost of Living

Index: 95.6

Wallace's overall cost of living index is 95.6, where 100 represents the US national average. Living in Wallace costs roughly 4% less than the average American city.

Metric Wallace, FL National Avg
Median Home Value $384,500 $244,900
Median Monthly Rent N/A $1,163
Homeownership Rate 99.1% 65.9%
Median Household Income $113,221 $74,755

Crime & Safety

Crime data for Wallace is not currently available from the FBI's Uniform Crime Reporting program. Not all local agencies report to the UCR each year.

Schools & Education

Metric Wallace, FL National Avg
School District N/A —
Elementary Schools N/A —
Middle Schools N/A —
High Schools N/A —
Student/Teacher Ratio N/A 16:1
Bachelor's Degree or Higher 42.6% 35.4%
High School Diploma or Higher 99.9% 91.1%

Weather & Climate

Wallace sees average highs of 60.2°F in January and 91.0°F in July, with 67.6 inches of annual precipitation and 0.1 inches of snow per year.

MetricWallace, FL
Average High — January60.2°F
Average High — July91.0°F
Annual Precipitation67.6"
Annual Snowfall0.1"

Demographics

MetricWallace, FLNational Avg
Population3,652—
Median Age36.938.9
Unemployment Rate0.0%3.7%
Avg Commute Time43.8 min26 min
White (non-Hispanic)69.8%59.3%
Black or African American1.4%13.6%
Hispanic or Latino11.9%18.9%
Asian10.8%6.3%
Under 1825.0%22.2%
65 and over17.8%16.8%

Nearby Cities

Pace, FL 4 mi Floridatown, FL 7 mi Pea Ridge, FL 8 mi Molino, FL 8 mi Gonzalez, FL 8 mi

Wallace vs Other Cities

Wallace, FL vs Pace, FL Wallace, FL vs Floridatown, FL Wallace, FL vs Pea Ridge, FL Wallace, FL vs Molino, FL Wallace, FL vs Gonzalez, FL

Frequently Asked Questions

Wallace's cost of living index is 96, where 100 is the national average. That makes Wallace roughly 4% less expensive than a typical US city — a meaningful affordability advantage. The median home price is $384,500 and median rent is N/A/month.
Crime data for Wallace is not available in the current FBI UCR reporting year. Not all jurisdictions submit data annually.
School district information is sourced from NCES Common Core of Data.
Wallace, FL has a population of 3,652, a median household income of $113,221, and an unemployment rate of 0.0%. Whether it's right for you depends on your priorities — use the compare tool above to stack it against another city you're considering.
Wallace averages 60.2°F in January and 91.0°F in July. Annual rainfall is 67.6 inches with about 0.1 inches of snow per year. Based on NOAA 30-year climate normals (1991–2020).
The population of Wallace, Florida is 3,652 with a median age of 36.9. Source: US Census ACS 5-Year Estimates.
Key numbers for living in Wallace: cost of living index 96 (100 = US average), median home $384,500, median household income $113,221. Whether these are benefits or drawbacks depends on where you're coming from — compare Wallace side by side with your current city to see the trade-offs.