Wallace, FL demographics:
population, income, and more

Total population
4,202
6.0% year-over-year change
Median household income
$116,496/yr
1.1% year-over-year change
Housing units
1,550
14.6% year-over-year change

Wallace population

How many people live in Wallace

Wallace is home to 4,202 residents, according to the most recent Census data. Gender-wise, 48.8% of Wallace locals are male, and 51.2% are female.

Total population
4,202
6.0% year-over-year change
Gender ratio
Male
48.8%
2,052
Female
51.2%
2,150
Value Percent YoY change
Male 2,052 48.8% -0.1%
Female 2,150 51.2% 12.6%
A higher population often means more rental variety and livelier areas. The gender balance—how many men live here compared to women—can reveal a lot about the community and the lifestyles of its residents. Use this info to get a sense of the area's pace and personality.

Age demographics

The median age in Wallace is 40, with the population distributed as follows: about 22.4% are children under 15, then 8.5% are in the 15 to 24 age group. Adults between 25 and 44 make up 25.2% of the population, while another 23.8% fall into the 45 to 64 bracket. Finally, around 20.1% are 65 or older.

Median age
40.3
Age breakdown
Under 15
22.4%
15 to 24
8.5%
25 to 44
25.2%
45 to 64
23.8%
Over 65
20.1%
Value Percent YoY change
Under 15 939 22.4% -6.8%
15 to 24 359 8.5% 8.5%
25 to 44 1,058 25.2% -0.8%
45 to 64 1,000 23.8% 23.3%
Over 65 846 20.1% 13.1%
The age composition helps you get insight into who lives in the area. A younger population might mean a more active, fast-paced vibe, while an older one could suggest a quieter, slower lifestyle. If there's a balanced makeup, you’re likely to find a variety of services, housing types, and community spaces that cater to different life stages.

Racial makeup

In Wallace, 92.2% of the population are US-born citizens, while 5.8% have gained naturalized citizenship. At the same time, 2.1% of residents are non-citizens. As for race, 71.8% of locals are Caucasian, 3.1% are African American and 5.9% have Asian roots. There’s also a share of 17.4% that includes residents with two or more races.

Citizenship
U.S.-born citizens
92.2%
Non-U.S.-born citizens
5.8%
Non-citizens
2.1%
Value Percent YoY change
U.S.-born citizens 3,872 92.2% 5.8%
Non-U.S.-born citizens 243 5.8% 13.6%
Non-citizens 87 2.1% -6.5%
Racial breakdown
White
71.8%
Black or African American
3.1%
American Indian and Alaska Native
0.1%
Asian
5.9%
Native Hawaiian and other Pacific Islander
0%
Two or more races
17.4%
Other
1.7%
Value Percent
White 3,019 71.8%
Black or African American 131 3.1%
American Indian and Alaska Native 3 0.1%
Asian 248 5.9%
Two or more races 729 17.4%
Other 72 1.7%

Households in Wallace

A peek inside Wallace households

Wallace has 1,499 households, with an average of 3 members in each. Of these, 86.1% are families, while the remaining 13.9% are made up of individuals living alone or with non-relatives, such as roommates.

Households stats

Total households
1,499
10.8% year-over-year change
Average people per household
3
Non-family households
209
Family households
1,290
Value Percent YoY change
Non-family households 209 13.9% -18.4%
Family households 1,290 86.1% 17.6%
The mix between family and non-family households gives a glimpse into daily life. A higher percentage of families might mean more parks and schools, while more non-family setups can mean flexible housing and diverse living styles. For renters, this can signal what kinds of homes are common and can help you figure out if the area matches your lifestyle.

Housing in Wallace

The housing landscape of Wallace

Wallace's housing consists of 1,550 units, with 98.2% being detached single-family homes ideal for those wanting space.

Housing units
1,550
14.6% year-over-year change
Housing types
Value Percent
1 unit, detached 1,522 98.2%
50 or more units 28 1.8%
Homes built since 2020
206
123.9% year-over-year change

The age of buildings in Wallace

In Wallace, the median construction year is 2011. Most development happened in the second half of the 20th century. Then, 13% of homes were added from 2000 to 2009, 42.4% between 2010 and 2019, and 13.3% are part of the newest wave of development.

Construction year breakdown by decade
Value Percent YoY change
Built in 1939 or earlier 14 0.9% N/A
Built between 1960 and 1969 61 3.9% 577.8%
Built between 1970 and 1979 205 13.2% 0.5%
Built between 1980 and 1989 64 4.1% -24.7%
Built between 1990 and 1999 141 9.1% -9.6%
Built between 2000 and 2009 201 13% 8.7%
Built between 2010 and 2019 658 42.4% 5.8%
Built in 2020 or later 206 13.3% 123.9%
As a renter, knowing when homes were built helps you understand the potential condition and design of rental units. Newer builds may have more contemporary layouts, while older homes can offer character or larger lots, depending on the area.

Wallace occupancy rates

Out of the 1,499 occupied housing units in Wallace, 92.4% are owner-occupied, while 7.6% are lived in by tenants. Meanwhile, 3.3% of all homes on the local market sit vacant.

Occupied housing units
1,499
10.8% year-over-year change
Occupancy breakdown
Renter occupied
114
Owner occupied
1,385
Value Percent YoY
change
Renter occupied 114 7.6% 39.0%
Owner occupied 1,385 92.4% 9.0%
Unoccupied housing units
3.3%
Unoccupied housing units refer to homes that are currently without residents—whether they're waiting for renters or owners, used seasonally, or simply unclaimed. A higher share of empty homes may mean more housing availability, while a low number can reflect a tighter market with more competition. This, along with the renter-vs.-owner mix, helps paint a clearer picture of what types of housing and services are likely to be available in the area.

Wallace housing costs

Housing costs in Wallace come to a median of $1,646 per month, while tenants specifically pay a median gross rent of $1,411.

Median housing costs per month
$1,646/month
This figure sums up typical monthly housing costs for all households in the area. If you own, it includes mortgage payments in addition to property taxes, insurance and HOA fees. If you rent, it accounts for rent plus extras like utilities. It’s useful for seeing how local living expenses stack up compared to other places.
Median gross rent in Wallace
$1,411/month
Gross rent gives a more complete look at what renters actually pay, including not just base rent, but also utilities and fees. It’s a key number for evaluating rental affordability in your area of interest and understanding how it compares to nearby locations.

Education in Wallace

Wallace education at a glance

About 19.2% of the population in Wallace went to high school, while 28.7% pursued college studies. Another 9.1% earned an associate degree and 28.3% hold a bachelor’s. Meanwhile, 14.8% went even further, earning a master’s or doctorate.

Education level
Value Percent YoY change
High school diploma 603 19.2% 6.0%
College diploma 902 28.7% 40.3%
Associate degree 285 9.1% -1.4%
Bachelor's degree 891 28.3% -5.9%
Graduate degree 465 14.8% 19.5%
A community’s education mix can offer insights into the local economy and housing market. Higher levels of education often align with more job opportunities and stable incomes, which can increase demand for homes and influence both rent prices and rental availability.

Income in Wallace

How much people earn in Wallace

The average annual household income in Wallace was $146,950 in 2024, the most recent annual data available, according to the U.S. Census Bureau. This marked a +3.4% change from the previous year. At the same time, the median income stood at $116,496, reflecting a +1.1% shift over the same period.

Average household income in Wallace
$146,950/year
3.4% year-over-year change
Median household income in Wallace
$116,496/year
1.1% year-over-year change

Wallace income by age

In Wallace, households led by residents aged 25 to 44 — usually in the early to mid stages of their careers — have a median income of $124,364. Those with someone between 45 and 64 in charge, often well established professionally, earn $130,046 overall. Overall, 94.3% of the locals in this community live above the poverty line.

Income breakdown by age
Value YoY change
25 - 44 $124,364 3.9%
45 - 64 $130,046 3.5%
Over 65 $76,625 7.1%
Above poverty level
3,964
Below poverty level
238
Value Percent YoY
change
Above poverty level 3,964 94.3% 7.7%
Below poverty level 238 5.7% -15.9%

Employment in Wallace

Workforce and job types in Wallace

The job market in Wallace is powered by 1,840 working residents, spread across a range of industries and roles. 86.5% of the working population are employed in professional or administrative positions, while 13.5% are in hands-on or service-based jobs. Also, 7.2% run their own businesses, 69.1% are employed by private companies, and 13.5% work in the public sector.

Workforce demographics

Working population
1,840
6.9% year-over-year change
White collar
1,591
Blue collar
249
Value Percent YoY change
White collar 1,591 86.5% 5.4%
Blue collar 249 13.5% 17.4%
Employer type
Self employees
7.2%
Private companies
69.1%
Governmental workers
13.5%
Not for profit companies
10.2%
Value Percent YoY change
Self employees 133 7.2% -24.0%
Private companies 1,272 69.1% 16.5%
Governmental workers 248 13.5% -6.4%
Not for profit companies 187 10.2% -1.1%
Unemployment rate
1.4%
1,200.0% year-over-year change

Available workforce

The unemployment rate in Wallace stands at 1.4%, representing the share of the workforce currently without a job and actively looking for one.

For renters, the unemployment rate helps paint a picture of job security and financial stability in the area. Rates around 4% to 5% are considered typical. A lower-than-average rate might suggest strong job prospects and a thriving local economy, while a higher rate could hint at fewer opportunities—both useful to consider when planning a move.

Transportation in Wallace

How people get around in Wallace

Commuting methods vary: 82.2% of residents travel by personal vehicle and 0.5% prefer to walk, while the remaining share relies on public transit or on two wheelers to get from A to B.

Means of transportation
Value Percent YoY change
Car 1,501 82.2% 4.3%
Walk 9 0.5% -30.8%
Understanding how locals get to work can help you plan your own routine. High car usage might mean you’ll need a vehicle, while strong public transit or walkability could save you the hassle. Commute times also play a big role in quality of life—shorter trips can give you more time for the things you enjoy.

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FAQs about Wallace demographics 

What is the total population of Wallace?

Wallace has a total population of 4,202 residents, according to the latest release from the U.S. Census Bureau: the 2019-2023 American Community Survey (ACS) 5-year estimates. This figure changed by +6.0% compared to a year ago.

What is the gender ratio in Wallace?

The gender ratio in Wallace is as follows:
  • 48.8% males (2,052 residents)
  • 51.2% females (2,150 residents)

What is the median age in Wallace?

The median age in Wallace is 40.3.

What is the age distribution of the population in Wallace?

The age distribution in Wallace is as follows:
  • Under 15: 22.4% (939 residents)
  • Ages 15-24: 8.5% (359 residents)
  • Ages 25-44: 25.2% (1,058 residents)
  • Ages 45-64: 23.8% (1,000 residents)
  • Over 65: 20.1% (846 residents)

What is the racial and ethnic makeup of Wallace?

The racial and ethnic makeup of Wallace is as follows:
  • White: 71.8% (3,019 residents)
  • Black or African American: 3.1% (131 residents)
  • American Indian and Alaska Native: 0.1% (3 residents)
  • Asian: 5.9% (248 residents)
  • Native Hawaiian and Other Pacific Islander: 0% (0 residents)
  • Two or More Races: 17.4% (729 residents)
  • Other: 1.7% (72 residents)

What percentage of the population in Wallace are U.S.-born citizens?

U.S.-born citizens represent 92.2% of the population in Wallace.

How many housing units are there in Wallace?

There are 1,550 housing units in Wallace, reflecting a +14.6% change compared to the previous year, according to the latest data from the U.S. Census Bureau.

How many households are in Wallace and what is the average household size?

Wallace has a total of 1,499 households, with an average of 3 people in each.

What is the median household income in Wallace?

Wallace has a median household income of $116,496, representing a +1.1% shift from the previous year, according to the U.S. Census Bureau.

What is the employment rate and job market overview for Wallace?

The employment rate is 98.6% in Wallace, with a workforce of 1,840 residents. Here’s a detailed breakdown of the local job market:

Job types:
  • White-collar workers: 86.5% (1,591 residents)
  • Blue-collar workers: 13.5% (249 residents)

Places of employment:
  • Self-employed: 7.2% (133 residents)
  • Private companies: 69.1% (1,272 residents)
  • Governmental workers: 13.5% (248 residents)
  • Not-for-profit companies: 10.2% (187 residents)

Data source & methodology

The demographic data on this page was sourced from the latest U.S. Census Bureau release—the 2019–2023 American Community Survey (ACS) 5-year estimates.

The information, issued annually, is compiled and published by the Point2Homes Research Team as soon as new data becomes available.

No representation, guarantee, or warranty is made concerning the accuracy or completeness of modified or aggregated information for particular areas.

Page last updated: September 2025