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CITY

Wallace

Florida · 4,202 residents · 11.764 sq mi
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The short version

Wallace is significantly wealthier than the US average, with a median household income of $116,496. Population has held roughly steady since 2023. Median home value is $400,700. Poverty is rare here, at 5.7% of residents. It ranks in the top 5% of US cities for household income. Households here earn about 56% more than the Florida median.

At a glance
Wealthier
above the US median
US median: $82,259
Mid-age
median age 40.3
US median: 38.9
More educated
45% hold a bachelor's degree
US average: 36%
Stable housing
home values roughly flat, inflation adjusted
US median home: $376,019
Section 01

Population & growth

Total population
4,202
+6%since 2023
from 3,965 in 2023
2010 – 2024
Population density
357 / sq mi
+6%since 2023
from 337 / sq mi in 2023
US average: 281
Median age
40.3
+12%since 2023
from 35.9 in 2023
US average: 38.9
Population, 2010 – 2024
1K2K3K4K4K201020202024Wallace
20244K
201020202024
Section 02

Income & economy

Median household income
$116,496
−2%inflation adjusted, since 2023
from $115,216 in 2023
US average: $82,259
2010 – 2024
Per capita income
$54,069
+8%since 2023
from $50,239 in 2023
US average: $44,673
Households earning $100K+
72.8%
+2.1 ptssince 2023
from 70.7% in 2023
US average: 53.3%
Poverty rate
5.7%
−1.5 ptssince 2023
from 7.1% in 2023
US average: 12.5%
Income inequality (Gini)
0.435
−4%since 2023
from 0.454 in 2023
US average: 0.476
Workforce by industry, 2024
Other services9.6%
US avg: 6.7%
Retail trade9.5%
US avg: 9.9%
Information8.8%
US avg: 10.8%
Transportation & warehousing6.3%
US avg: 2.2%
Public administration3.9%
US avg: 4.8%
Finance & insurance3.2%
US avg: 5.9%
Professional, scientific, technical2.3%
US avg: 5.1%
Wholesale trade0.9%
US avg: 6.9%
Education & health services0.8%
US avg: 0.9%
Agriculture, forestry, fishing0.8%
US avg: 1.6%
Construction0.8%
US avg: 1.2%
Manufacturing0%
US avg: 0.4%
Arts, entertainment, food0%
US avg: 1.9%
BARS: THIS PLACE · TICKS: US AVERAGE
Section 03

Housing

Median home value
$400,700
+3%inflation adjusted, since 2023
from $377,600 in 2023
US average: $376,019
2010 – 2024
Median gross rent
$1,411
−2%inflation adjusted, since 2023
from $1,394 in 2023
US average: $1,442
Owner-occupied
92.4%
−1.5 ptssince 2023
from 93.9% in 2023
7.6% rent
Vacancy rate
3.3%
+3.3 ptssince 2023
from 0.0% in 2023
US average: 10.0%
Owner cost-burdened
15.9%
+2.3 ptssince 2023
from 13.6% in 2023
US average: 22.9%
Renter cost-burdened
30.7%
−2.2 ptssince 2023
from 32.9% in 2023
US average: 47.4%
Afford Score
3.4
+5%since 2023
from 3.3 in 2023
2010 – 2024
Gentrification Score
50
RELATED:See current rent listings in Wallace on RentDataNow
Section 04

Race & ethnicity

2023
White, non-Hispanic71.9%(2,849)
Black2.3%(90)
Hispanic / Latino1.5%(60)
Asian7.2%(285)
Other17.2%(681)
Diversity Score56%(2,222)
2024
White, non-Hispanic71.6%(3,008)
Black3.1%(131)
Hispanic / Latino2.5%(104)
Asian5.9%(248)
Other16.9%(711)
Diversity Score56.7%(2,384)
Diversity Score
57
+1%since 2023
from 56 in 2023
2010 – 2024
Section 05

Education

Bachelor's degree or higher
44.9%
−3.7 ptssince 2023
from 48.6% in 2023
US average: 35.6%
High school or higher
98.9%
−0.8 ptssince 2023
from 99.7% in 2023
US average: 89.6%
Graduate degree
16.0%
+1.2 ptssince 2023
from 14.8% in 2023
US average: 14.0%
Section 06

Commute & transportation

Average commute
43.6 min
+3%since 2023
from 42.3 min in 2023
US average: 26.5
Drive alone to work
81.5%
+0.8 ptssince 2023
from 80.8% in 2023
US average: 68.9%
Carpooled to work
0.7%
−3.4 ptssince 2023
from 4.1% in 2023
US average: 8.5%
Public transit
0.0%
Unchangedsince 2023
from 0.0% in 2023
US average: 3.2%
Worked from home
15.0%
+2.8 ptssince 2023
from 12.2% in 2023
US average: 15.0%
Walked to work
0.5%
−0.3 ptssince 2023
from 0.8% in 2023
US average: 2.4%
Biked to work
0.0%
Unchangedsince 2023
from 0.0% in 2023
US average: 0.4%
No vehicle available
0.0%
Unchangedsince 2023
from 0.0% in 2023
US average: 8.3%
Section 07

Work & employment

Unemployment rate
1.4%
+1.3 ptssince 2023
from 0.1% in 2023
US average: 5.2%
Labor force participation
58.4%
−0.7 ptssince 2023
from 59.1% in 2023
US average: 63.5%
Self-employed
9.9%
−2.8 ptssince 2023
from 12.7% in 2023
US average: 13.1%
Management & professional
44.3%
−4.2 ptssince 2023
from 48.5% in 2023
US average: 42.5%
Section 08

People & community

Male
48.8%
−3.0 ptssince 2023
from 51.8% in 2023
Female
51.2%
+3.0 ptssince 2023
from 48.2% in 2023
Foreign born
6.9%
+0.3 ptssince 2023
from 6.6% in 2023
US average: 14.1%
Veterans
18.1%
Unchangedsince 2023
from 18.0% in 2023
US average: 6.2%
With a disability
17.2%
−1.7 ptssince 2023
from 18.9% in 2023
US average: 13.3%
Uninsured
5.4%
+0.3 ptssince 2023
from 5.1% in 2023
US average: 8.4%
Broadband at home
96.4%
+0.2 ptssince 2023
from 96.2% in 2023
US average: 91.0%
English only at home
88.6%
−0.1 ptssince 2023
from 88.7% in 2023
US average: 77.7%
Spanish at home
2.2%
+1.2 ptssince 2023
from 1.0% in 2023
US average: 13.6%
Drill deeper

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Compare Wallace to nearby cities

WALLACE VS
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WALLACE VS
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WALLACE VS
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WALLACE VS
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Frequently asked

How many people live in Wallace, Florida?

Wallace, Florida has about 4,202 residents according to the 2024 American Community Survey.

What is the median household income in Wallace, Florida?

The typical household in Wallace, Florida earns about $116,496 a year. Half of households make more than that, and half make less.

Is Wallace, Florida expensive?

In Wallace, Florida, the median home is worth about $400,700, and the typical rent is about $1,411 a month.

How educated are people in Wallace, Florida?

About 44.9% of adults age 25 and over in Wallace, Florida hold a bachelor's degree or higher.

What is the poverty rate in Wallace, Florida?

About 5.7% of people in Wallace, Florida live below the federal poverty line.

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DATA: US CENSUS BUREAU ACS 5-YEAR + DECENNIAL CENSUS · UPDATED 2024

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