Wallace, NC—28466
Real Estate Data & Market Trends
Key Metrics at a Glance
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 | $212,000 | 4.2% |
| Single Family | $212,000 | 4.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $122,000 | 1.7% |
3 Bed | $210,000 | 5.0% |
4 Bed | $391,000 | 3.2% |
| 5 Bed | N/A | N/A |
% of Housing Stock
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 |
% of Rental Stock
Property Listings — Wallace, NC
As of Oct '25, Realtor.com reports that the median days on market for a home in Wallace, NC is 91. This is a decrease of -30.0% 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 23.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $480,000 | -2.0% |
Listing Count | 70 | -10.0% |
| Listings as % of Homes | 0.6% | -10.0% |
Days on Market | 91 | -30.0% |
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% |
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% |
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% |
Loan Activity
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 |
Affordability — Wallace, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.9 |
| Median Home Price | $212,000 |
| Median Household Income | $61,900 |