Wallace, NC Profile: Facts & Data

The Town of Wallace had a population of 3,338 as of July 1, 2024. Wallace ranks in the upper quartile for Diversity Index when compared to the other cities, towns and Census Designated Places (CDPs) in North Carolina. See peer rankings below.

The primary coordinate point for Wallace is located at latitude 34.7357 and longitude -77.9953 in Duplin County. The formal boundaries for the Town of Wallace encompass a land area of 3.07 sq. miles and a water area of 0 sq. miles. Duplin County is in the Eastern time zone (GMT -5).

While the primary coordinates for Town of Wallace are located in Duplin County, it should be noted that the formal boundaries for this community also extend into and Pender County.

The Town of Wallace has a C1 Census Class Code which indicates an active incorporated place that does not serve as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

Wallace, NC Data & Demographics (As of July 1, 2024)

POPULATION
Total Population	3,338 (100%)
Population in Households	3,180 (95.3%)
Population in Families	2,627 (78.7%)
Population in Group Quarters¹	158 ( 4.7%)
Population Density	1,045
Diversity Index²	82


INCOME
Median Household Income	$51,993
Average Household Income	$71,790
% of Income for Mortgage⁴	23%
Per Capita Income	$27,366
Wealth Index⁵	52
Socioeconomic Status Index⁶	Low (44.2)

HOUSING
Total HU (Housing Units)	1,546 (100%)
Owner Occupied HU	773 (50.0%)
Renter Occupied HU	495 (32.0%)
Vacant Housing Units	278 (18.0%)
Median Home Value	$189,463
Average Home Value	$234,670
Housing Affordability Index³	110

HOUSEHOLDS
Total Households	1,268
Average Household Size	2.51
Family Households	800
Average Family Size	3.00

NOTES

Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.
The Socioeconomic Index ranges from zero (lowest relative status) to 100 (highest relative status). This measure quantifies disparities in social position of an area's inhabitants and is built from a broad range of demographic, housing, and socioeconomic inputs. More information on this measure can be found in Esri's SEI tutorial.

Wallace, NC - Peer Comparisons by Rank and Percentile

The table below compares Wallace to the other 777 incorporated cities, towns and CDPs in North Carolina by rank and percentile using July 1, 2024 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

GROWTH RATE / YEAR	2020-2024	2024-2029
Population	-0.52%	-0.82%
Households	-1.08%	-0.45%
Families		-0.43%
Median Household Income		2.22%
Per Capita Income		3.02%
Owner Occupied HU		-0.16%

Variable Description	Rank	Percentile
Total Population	# 248	68th
Population Density	# 202	74th
Median Household Income	# 515	34th
Housing Affordability Index	# 470	60th
Per Capita Income	# 559	28th
Diversity Index	# 16	98th

Wallace, NC Profile: Facts & Data

Wallace, North Carolina - Basic Facts

Wallace, NC Data & Demographics (As of July 1, 2024)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Wallace, NC - Peer Comparisons by Rank and Percentile

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