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📍 Wallace, MI · Zillow ZHVI · July 2026

Average Home Price in
Wallace, MI

Marinette, WI-MI metro area · Menominee County County

Median Home Value
$231,132
↑ 2.9% year-over-year
vs. National Median
$410,000
Wallace is 44% below
Est. Monthly Payment
$1,205/mo
20% down · 6.8% rate
Income Needed
$61K
gross annual (30% rule)
Median Home Value
$231,132
↑ 2.9% year-over-year
Down Payment (20%)$46,226
Monthly P&I$1,205/mo
With Taxes & Ins.~$1,530/mo
Income Needed$61,200/yr
Data SourceZillow ZHVI
Market Overview

Home Prices in Wallace, MI

The median home value in Wallace, MI is $231,132 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 2.9% compared to a year ago and up 4.9% from two years prior.

Compared to the U.S. national median of $410,000, homes in Wallace are priced44% below average. Wallace is part of the Marinette, WI-MI metro area.

City Comparison

Wallace vs. National Median

🏠 Wallace
$231,132
National Median
$410,000

At $231,132, homes in Wallace cost 44% 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
$46,226
on $231,132
Monthly P&I
$1,205/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,530/mo
incl. taxes & insurance
Income Needed
$61,200
gross annual (30% rule)
10% Down Option
$23,113
+ PMI applies
Loan Amount (20% dn)
$184,906
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, MI?
The median home value in Wallace is $231,132 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 2.9% year-over-year.
How much have home prices changed in Wallace?
Over the past year, home values in Wallace have increased by 2.9%.
How much do I need to earn to buy a home in Wallace?
To comfortably afford the median home price of $231,132 with a 20% down payment ($46,226) at today's rates (6.8%), you'd need a gross annual income of approximately $61,200. 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 $231,132, homes in Wallace are 44% below the national average.
What metro area is Wallace part of?
Wallace is part of the Marinette, WI-MI metropolitan area. Home prices and market conditions can vary across the broader metro region.