The typical owner-occupied home in Wallace is worth about $66,500, 69% below the Kansas median of $217,200 and 80% below the national median of $332,700. 100% of occupied homes here are lived in by their owners, and 42% of those owners still have a mortgage.
Wallace at a glance
| Wallace | Kansas | U.S. | |
|---|---|---|---|
| Median home value | $66,500 | $217,200 | $332,700 |
| Median property tax paid per year | – | $2,798 | $3,119 |
| Median household income | – | $74,275 | $80,734 |
| Homes lived in by their owners | 100% | 67% | 65% |
| Owner homes with a mortgage | 42% | 57% | 61% |
| Median monthly costs, owners with a mortgage | – | $1,689 | $1,963 |
| Median rent | – | $1,060 | $1,413 |
| Median year homes were built | 1974 | 1976 | 1980 |
| Vacant homes | 24.0% | 9.2% | 10.1% |
| Population | 48 | 2,947,197 | 334,922,499 |
What a typical home costs per month in Wallace
At this week's average 30-year rate of 7.11%, buying the median Wallace home of $66,500 with 20% down costs about $447 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $557, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $19,138 for the 20%-down payment.
| Down payment | $13,300 |
|---|---|
| Loan amount | $53,200 |
| Principal and interest | $358 |
| Property taxes (1.10% a year) | $61 |
| Homeowners insurance (our estimate, 0.5% a year) | $28 |
| PMI | $0 |
| Total per month | $447 |
Change the numbers in the calculator
| Down payment | $2,328 |
|---|---|
| Loan amount | $65,296 |
| Principal and interest | $439 |
| Property taxes (1.10% a year) | $61 |
| Homeowners insurance (our estimate, 0.5% a year) | $28 |
| FHA mortgage insurance | $29 |
| Total per month | $557 |
Change the numbers in the calculator
Questions about home buying in Wallace
What is the median home value in Wallace?
About $66,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
What income do you need to buy a home in Wallace?
For the median home with 20% down at 7.11%, the payment is about $447 a month. Keeping that under 28% of gross income takes about $19,138 a year.
More about Wallace
- Mortgage Refinance in Wallace
- Debt Relief in Wallace
- Home Equity Loans in Wallace
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data