Cost of Living in Wallace, NC
Population 3,438 · North Carolina · Data vintage 2023
(100 = US avg)
Wallace is a smaller North Carolina community of around 3000 residents, where median household incomes of $49,358 and housing costs ($193,000 for a typical home) give the local cost-of-living profile a distinctly small-town shape. A poverty rate near 20% adds context to the income figures — well above the US average, and worth factoring into any comparison with cities on the coasts or in the Rockies.
Wallace is about 35 miles north of Wilmington, the nearest large metro — close enough that regional housing and labor patterns are shaped largely by the larger market. Median home values run roughly 45% lower than Wilmington's $350,000.
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 $192,800 — 37% below the national median of $305,000. Median rent runs $833/month, 37% lower than the national median of $1,314/month. The median household income of $49,358/year is 34% lower than the US median of $74,580. The local unemployment rate is 6.2%, above the national average of 4.8%. North Carolina's top state income tax rate is 4.5% and the combined sales tax is 7.0%. The climate averages highs of 74.4°F and lows of 54.4°F. Overall, Wallace has a cost of living index of 63 versus the US average of 100, meaning it is 37% less 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
🌤 Climate
NOAA 1991–2020 Climate Normals
| Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| High °F | 57 | 60 | 67 | 75 | 81 | 87 | 90 | 88 | 84 | 76 | 67 | 60 |
| Low °F | 36 | 38 | 44 | 53 | 61 | 69 | 73 | 72 | 67 | 56 | 45 | 39 |
| Precip" | 3.81 | 3.47 | 3.97 | 3.07 | 4.54 | 5.67 | 6.86 | 8.16 | 8.69 | 4.66 | 3.56 | 3.69 |
| Snow" | 0.7 | 0.2 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Frequently Asked Questions
What is the cost of living in Wallace, NC?
Wallace has a cost index of 63 (100 = national average). It is 37% below the national average.
What is average rent in Wallace, NC?
The median gross rent in Wallace is $833 per month based on 2023 Census data.
What is the average home price in Wallace?
The median home value in Wallace is $192,800 according to Zillow and Census data.
What is the median income in Wallace?
The median household income in Wallace is $49,358 per year (2023 ACS 5-year estimates).
What is the sales tax in Wallace, NC?
The combined state and local sales tax rate in Wallace is 7.0%. The North Carolina state income tax top rate is 4.5%.
Is Wallace, NC affordable?
Yes, Wallace is generally considered affordable, with a cost of living index of 63 — about 37% below the US national average of 100.
What is the weather like in Wallace?
Wallace has average high temperatures of 74.4°F and average lows of 54.4°F. Annual precipitation is 60.1". Average annual snowfall is 0.9". Data from NOAA 1991–2020 Climate Normals.
Wallace at a Glance
- Population
- 3,438
- Median Income
- $49,358
- Home Value
- $192,800
- Median Rent
- $833/mo
- Unemployment
- 6.2%
- Avg High Temp
- 74.4°F
- Sales Tax
- 7.0%
Nearby Cities
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North Carolina Rankings
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