Market Overview
Home Prices in Wallace, ID
The median home value in Wallace, ID is $265,788 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 0.7% compared to a year ago and up 1.8% from two years prior.
Compared to the U.S. national median of $410,000, homes in Wallace are priced35% below average.
Over the past five years, Wallace home values have risen by approximately25.5%, reflecting strong long-term appreciation in this market.
Price History
Wallace Home Price Trend
2020
$158,204
$158K
—
2021
$211,805
$212K
+33.9%
2022
$276,011
$276K
+30.3%
2023
$252,837
$253K
-8.4%
2024
$259,298
$259K
+2.6%
2025
$263,994
$264K
+1.8%
2026
$265,788
$266K
+0.7%
City Comparison
Wallace vs. National Median
🏠 Wallace
$265,788
National Median
$410,000
At $265,788, homes in Wallace cost 35% below the national median of $410,000. This makes Wallace a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Wallace?
20% Down Payment
$53,158
on $265,788
Monthly P&I
$1,386/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,760/mo
incl. taxes & insurance
Income Needed
$70,400
gross annual (30% rule)
10% Down Option
$26,579
+ PMI applies
Loan Amount (20% dn)
$212,630
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Wallace, ID?
The median home value in Wallace is $265,788 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 0.7% year-over-year.
How much have home prices changed in Wallace?
Over the past year, home values in Wallace have increased by 0.7%. Over five years, prices have risen approximately 25.5%.
How much do I need to earn to buy a home in Wallace?
To comfortably afford the median home price of $265,788 with a 20% down payment ($53,158) at today's rates (6.8%), you'd need a gross annual income of approximately $70,400. This assumes keeping total housing costs at or below 30% of gross income.
How does Wallace compare to the national average home price?
The national median home value is approximately $410,000. At $265,788, homes in Wallace are 35% below the national average.