Wallace town, Indiana Demographics & Population 2026

Population Overview

Wallace town is a small community located in Indiana. The total population is 136. It ranks as the 800th most populous out of 967 cities and towns in Indiana.

Age Demographics

The median age in Wallace town is 23.6 years. This is 38% lower than the state median of 38.0 years. With 31.6% of the population under 18, Wallace town has a notably young demographic profile, suggesting a family-oriented community.

Economy, Income & Housing

The median household income in Wallace town is $65,625. This is 6% lower than the state median of $70,051. Compared to the national median of $78,538, household income here is 16% lower. The poverty rate stands at 1.5%. This is 88% lower than the state poverty rate of 12.2%. This exceptionally low poverty rate indicates strong economic prosperity across the community. The unemployment rate is 1.3%. This is 69% lower than the state rate of 4.3%. The median home value is $92,500. Housing costs are 54% lower than the state median of $201,600. With a home-value-to-income ratio of just 1.4x, Wallace town is one of the most affordable housing markets in the area. 100.0% of occupied housing units are owner-occupied. This homeownership rate is 42% higher than the state average of 70.3%.

Race & Ethnicity

Wallace town has a predominantly White (non-Hispanic) population, comprising 100.0% of all residents.

Education

12.9% of residents aged 25 and older hold a bachelor's degree or higher. This is 55% lower than the state rate of 28.8%. Nationally, 35.0% of adults hold at least a bachelor's degree. The high school graduation rate (or equivalent) is 96.8%.

Data Sources & Methodology

All demographic data for Wallace town, Indiana is sourced from the U.S. Census Bureau's American Community Survey (ACS) 5-Year Estimates (2019-2023). The ACS collects data from approximately 3.5 million households annually, providing reliable estimates for communities of all sizes. Comparisons are made against Indiana state averages and national averages calculated from the same dataset. Rankings reflect the city's position among all 967 Census-designated places in Indiana. For official data, visit data.census.gov.