Race & Ethnicity
Age Breakdown
Key Indicators
| Median Age | 57.1 yrs |
|---|---|
| Avg HH Size | 2.19 |
| Below Poverty | 8.3% ▼ 17% below avg |
| College Grads | 29.4% ▼ 24% below avg |
| Unemployment | 3.5% ▼ 28% below avg |
| No HS Diploma | 2 (0.2%) |
| HS Graduate | 440 (42.4%) |
| Some College | 125 (12%) |
| Associates | 166 (16%) |
| Bachelors | 114 (11%) |
| Graduate Degree | 191 (18.4%) |
Education
Housing Tenure
Home Value Distribution
Financials
| Median HH Income | $63,438 ▼ 17% below avg |
|---|---|
| Median Home Value | $176,700 ▼ 37% below avg |
| Home/Income Ratio | 2.8x (nat avg ~3.5x) |
| Median Rent | $742/mo |
| Total Housing Units | 775 |
| Vacant Units | 181 |
Income Distribution
How People Get to Work
Commute Time
Year Built
Wallace is a city in Michigan, located in Menominee County. The city spans 1 ZIP code and is home to approximately 1,307 residents. It is an older city, with a median age of 57.1 years.
Economically, Wallace is a solidly middle-class community. The median household income of $63,438 is below the national average. Approximately 8.3% of residents live below the poverty line. The unemployment rate is 3.5%, below the national average.
The real estate market in Wallace is an affordable housing market. Median home values stand at $176,700, which is below the national average. Renters typically pay around $742 per month. Homeownership is high at 94.8%, typical of suburban and family-oriented communities.
The population of Wallace is moderately educated. 29.4% of adults hold a bachelor's degree or higher — below the national average. The community is primarily White (92.35%).
Wallace, MI offers residents a cost-conscious lifestyle within Michigan.
| ZIP | Population | Median Income | Median Home | Median Rent | Unemp. | College | Owner Occ. |
|---|---|---|---|---|---|---|---|
| 49893 | 1,307 | $63,438 | $176,700 | $742 | 3.5% | 29.4% | 94.8% |