Cost of Living in Wallace, FL
Population 3,965 · Florida · Data vintage 2023
(100 = US avg)
Wallace is a smaller Florida community of around 4000 residents, where median household incomes of $115,216 and housing costs ($378,000 for a typical home) give the local cost-of-living profile a distinctly small-town shape. An unemployment rate of 0.1% points to a labor market well on the tight side of the national distribution.
Wallace is about 55 miles east of Mobile, the nearest large metro — close enough that regional housing and labor patterns are shaped largely by the larger market. Median home values run roughly 122% higher than Mobile's $170,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Wallace
The median home value in Wallace is $377,600 — 24% above the national median of $305,000. Median rent runs $1,394/month, 6% higher than the national median of $1,314/month. The median household income of $115,216/year is 54% higher than the US median of $74,580. The local unemployment rate is 0.1%, below the national average of 4.8%. Florida charges no state income tax, a meaningful advantage for take-home pay. Overall, Wallace has a cost of living index of 117 versus the US average of 100, meaning it is 17% more expensive.
Wallace has limited residential data
Detailed housing and income data is limited for this location. Here are the nearest cities with full cost of living data:
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
Frequently Asked Questions
What is the cost of living in Wallace, FL?
Wallace has a cost index of 117 (100 = national average). It is 17% above the national average.
What is average rent in Wallace, FL?
The median gross rent in Wallace is $1,394 per month based on 2023 Census data.
What is the average home price in Wallace?
The median home value in Wallace is $377,600 according to 2023 Census ACS data.
What is the median income in Wallace?
The median household income in Wallace is $115,216 per year (2023 ACS 5-year estimates).
What is the sales tax in Wallace, FL?
The combined state and local sales tax rate in Wallace is 7.0%. Florida has no state income tax.
Is Wallace, FL affordable?
Wallace is above average in cost of living, with an index of 117 — about 17% higher than the national average.
Wallace at a Glance
- Population
- 3,965
- Median Income
- $115,216
- Home Value
- $377,600
- Median Rent
- $1,394/mo
- Unemployment
- 0.1%
- Sales Tax
- 7.0%
Nearby Cities
Explore county-level cost of living data
Florida Rankings
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