Wallace, NC 28466 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Wallace, NC—28466

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$211,000

4.4% YoY Growth

Household Income

$61,900

67.6% YoY Growth

Days on Market

32.0% Shorter YoY

Home Price Forecast

N/A

Median Rent

$3,200

74.5% YoY Growth

1-Bed Rent

N/A

2-Bed Rent

N/A

3-Bed Rent

N/A

Home Price Trends — Wallace, NC

Wallace, NC lacks sufficient home price data for analysis.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$211,000	4.4%
Single Family	$210,000	4.5%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed	N/A	N/A

Rental Trends — Wallace, NC

As of July '25, Rentcast reports the average rent in Wallace, NC is $3,350, with a year-over-year rent change of 74.5%. Per bedroom, the median rent as of July '25 in Wallace, NC is 4-bedrooms: $3,350. The most common rental property sizes in Wallace, NC are 1-bedroom and 2-bedroom, accounting for 32.5% and 29.5% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$3,200	$3,350
Studio Rent	N/A	N/A
1 Bed Rent	N/A	N/A
2 Bed Rent	N/A	N/A
3 Bed Rent	N/A	N/A
4 Bed Rent	$3,200	$3,350

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% of Rental Stock

1 Bedroom

32.5%

2 Bedrooms

29.5%

3 Bedrooms

28.6%

4 Bedrooms

1.8%

5+ Bedrooms

7.6%

Property Listings — Wallace, NC

As of Dec '25, Realtor.com reports that the median days on market for a home in Wallace, NC is 85. This is a decrease of -33.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 16.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$511,000	-9.0%
Listing Count	70	9.0%
Listings as % of Homes	0.6%	9.0%
Days on Market	96	-32.0%

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Demographics — Wallace, NC

As of the latest ACS Survey released in 2023, Wallace, NC has a population of 8,750, which has decreased by -5.9% over the past 5 years. Wallace, NC is a moderately popular place for families, as children make up 21.7% of the population. The area has a poorly educated workforce, with 24.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 3.7% reporting working from home.

Metric	Latest Census	YoY % Change
Population	8,750	-5.9%
% Under 18	21.7%	9.0%
% Seniors	23.3%	-11.7%
% WFH	3.7%	-24.5%
% w/ College Degree	24.2%	59.2%

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As of the latest ACS Survey released in 2023, Wallace, NC is a predominantly white area, with 64.0% of the population identifying as white. The white population has shrunk by 8.3% in the last 5 years. The second most common race or ethnicity in Wallace, NC is black, making up 17.1% of the population. Foreign-born residents account for 7.1% of the population in Wallace, NC, and this percentage has decreased by 23.7% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

Race and Ethnicity

Metric	Latest Census	5-Year % Change
% White	64.0%	-8.3%
% Black	17.1%	-11.9%
% Hispanic	14.8%	52.6%
% Asian	0.1%	0.0%
% Foreign Born	7.1%	-23.7%

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Mortgage and Risk — Wallace, NC

According to HUD data as of 2023, there were 128 mortgage originations in Wallace, NC, of which 73.0% of loans were conventional mortgages. The average loan-to-value was 62.0%, with 29.0% above 90% LTV (very high). This implies large mortgage risk in Wallace, NC. Investor activity is low, as 2.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	128
% Conventional Loans	73.0%
% Government Loans	27.0%
% Investor Loans	2.0%
% Second Loans	2.0%
% Cash Out Refinance	13.0%

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Rentals and Section 8 — Wallace, NC

Wallace, NC lacks sufficient Section 8 program data for analysis.

Section 8 Market Size

Total Units under HUD	41
Total Units Section 8	41
% Rentals under Section 8	2.4%
% Occupied Section 8	60.0%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	N/A	N/A	$890
2 Bedroom	N/A	N/A	$1,000
3 Bedroom	N/A	N/A	$1,410
4 Bedroom	-$1,560	$3,200	$1,640

Wallace, NC—28466

Key Metrics at a Glance

Home Price Trends — Wallace, NC

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Wallace, NC

% of Rental Stock

Property Listings — Wallace, NC

Demographics — Wallace, NC

Race and Ethnicity

Mortgage and Risk — Wallace, NC

Mortgages

Rentals and Section 8 — Wallace, NC

Section 8 Market Size

Section 8 Opportunity

Affordability — Wallace, NC

Home Price to Income Ratio

Wallace, NC — ZIP Code Boundary Map

Nearby ZIP Codes

Willard, NC

Burgaw, NC

Chinquapin, NC

Beulaville, NC

Maple Hill, NC

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	2.9
Median Home Price	$211,000
Median Household Income	$61,900

Wallace, NC—28466

Key Metrics at a Glance

Home Price Trends — Wallace, NC

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Wallace, NC

% of Rental Stock

Property Listings — Wallace, NC

Demographics — Wallace, NC

Race and Ethnicity

Mortgage and Risk — Wallace, NC

Mortgages

Rentals and Section 8 — Wallace, NC

Section 8 Market Size

Section 8 Opportunity

Affordability — Wallace, NC

Home Price to Income Ratio

Wallace, NC — ZIP Code Boundary Map

Nearby ZIP Codes

Willard, NC

Burgaw, NC

Chinquapin, NC

Beulaville, NC

Maple Hill, NC

Frequently Asked Questions

What is the average home price in Wallace, NC 28466?

How have home prices in Wallace, NC 28466 changed over the past year?

What is the home price projection for Wallace, NC 28466?

What are the demographics of Wallace, NC 28466?

How long does it take homes to sell in Wallace, NC 28466?

What is the average rent price in Wallace, NC 28466?