Wallace, Nebraska Demographics & Population 2026
During the 2020–2024 ACS period, Wallace, Nebraska had a total population of 266, the 306th largest village in Nebraska, with a median household income of $63,125, which is 17% lower than the state average. The poverty rate is 3.0%.
Data vintage: U.S. Census Bureau ACS 2020–2024 5-Year Estimates · refreshed July 2026 · Methodology & source notes
Key Takeaways
- An exceptionally low poverty rate of 3.0% — among the lowest in Nebraska.
- Housing is very affordable with a home-value-to-income ratio of just 1.7x.
Wallace Quick Facts
How Wallace Changed
Change from the 2019–2023 ACS period to 2020–2024. These are rolling five-year estimates, not year-over-year measurements.
| Metric | 2019–2023 | 2020–2024 | Change |
|---|---|---|---|
| Population | 272 | 266 | -2.2% |
| Median household income | $55,625 | $63,125 | +13.5% |
| Median home value | $101,500 | $107,900 | +6.3% |
How Wallace Compares
Median Household Income
Median Home Value
Economy & Housing
Household Income Distribution
Detailed income brackets
Employment
Housing Overview
People & Demographics
Age Distribution
Race & Ethnicity
Diversity Index
A less diverse community where one racial or ethnic group represents a large majority.
State average: 41 | National average: 61
Education
Educational Attainment (Adults 25+)
Wallace Rankings in Nebraska
Explore Nebraska Rankings
Other Cities in Lincoln County
| City | Population | Median Income | Poverty | Home Value |
|---|---|---|---|---|
| North Platte | 22,831 | $58,097 | 15.4% | $169,100 |
| Sutherland | 1,209 | $72,857 | 9.8% | $188,200 |
| Hershey | 724 | $91,458 | 7.0% | $172,000 |
| Brady | 470 | $80,833 | 6.3% | $151,200 |
| Maxwell | 174 | $87,500 | 4.6% | $91,300 |
| Wellfleet | 74 | $49,792 | 1.4% | $71,700 |
Cities Similar to Wallace
These cities in the same state have comparable population and economic profiles.
| City | Population | Median Income | Home Value | Bachelor's+ | Poverty |
|---|---|---|---|---|---|
| Marquette | 265 | $63,375 | $108,000 | 6.5% | 17.4% |
| Holbrook | 273 | $63,750 | $75,000 | 17.2% | 28.2% |
| Maywood | 266 | $71,250 | $103,100 | 25.3% | 12.4% |
| Weston | 256 | $66,250 | $163,300 | 7.9% | 7.0% |
| Davenport | 257 | $67,083 | $87,800 | 23.4% | 5.1% |
A note before these figures: with a population of 266, Wallace's ACS estimates come from a small number of survey responses and carry wide margins of error. Individual percentages below — particularly rates that round to 0% or 100% — are approximations, not precise measurements. See data.census.gov for the published margins of error.
Population Overview
Wallace is a small community located in Nebraska, within Lincoln County. The total population is 266. It ranks as the 306th most populous out of 583 Census-designated places in Nebraska.
Age Demographics
The median age in Wallace is 56.6 years. This is 52% higher than the state median of 37.2 years.
Economy, Income & Housing
The median household income in Wallace is $63,125. This is 17% lower than the state median of $76,475. It is also 22% lower than the national median of $80,734. The poverty rate stands at 3.0%. This is 72% lower than the state poverty rate of 10.6%. This exceptionally low poverty rate indicates strong economic prosperity across the community. The unemployment rate is 4.5%. This is 49% higher than the state rate of 3.0%. The median home value is $107,900. Housing costs are 55% lower than the state median of $238,600. With a home-value-to-income ratio of just 1.7x, Wallace is one of the most affordable housing markets in the area. 82.2% of occupied housing units are owner-occupied. This homeownership rate is 24% higher than the state average of 66.5%.
Race & Ethnicity
Wallace has a predominantly White (non-Hispanic) population, comprising 90.6% of all residents. Hispanic or Latino residents account for 8.6%.
Education
32.4% of residents aged 25 and older hold a bachelor's degree or higher. This is 6% lower than the state rate of 34.6%. Nationally, 35.7% of adults hold at least a bachelor's degree. The high school graduation rate (or equivalent) is 91.7%.
Data Sources & Methodology
All demographic data for Wallace, Nebraska is sourced from the U.S. Census Bureau's American Community Survey (ACS) 2020–2024 5-Year Estimates. The ACS collects data from approximately 3.5 million households annually and pools five years of responses so that even small communities can be measured, though the margin of error widens as the population falls. Comparisons are made against Nebraska state averages and national averages calculated from the same dataset. Rankings reflect the city's position among all 583 Census-designated places in Nebraska. Read more about how these figures are produced on our methodology page, or visit data.census.gov for official data.
Free data download: Get all Nebraska city and county demographics as CSV. Download Cities CSV | Download Counties CSV
Frequently Asked Questions
What is the population of Wallace, Nebraska?
Wallace, Nebraska has a population of 266 according to the most recent U.S. Census ACS 5-Year Estimates.
What is the median household income in Wallace, NE?
The median household income in Wallace is $63,125, which is 22% lower than the national median of $80,734.
What is the poverty rate in Wallace, NE?
The poverty rate in Wallace is 3.0%. This means approximately 8 residents live below the federal poverty line.
What is the racial makeup of Wallace, Nebraska?
Wallace's population is 90.6% White, 0.0% Black, 8.6% Hispanic/Latino, and 0.0% Asian.
What is the median home value in Wallace, NE?
The median home value in Wallace is $107,900. The home-value-to-income ratio is 1.7x.
How educated is Wallace, Nebraska?
32.4% of adults (25+) in Wallace hold a bachelor's degree or higher, and 4.6% hold a graduate or professional degree.