Market Overview
Home Prices in Wallace, NC
The median home value in Wallace, NC is $222,035 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 2.4% compared to a year ago and up 3.9% from two years prior.
Compared to the U.S. national median of $410,000, homes in Wallace are priced46% below average. Wallace is part of the Wilmington, NC metro area.
Over the past five years, Wallace home values have risen by approximately41.7%, reflecting strong long-term appreciation in this market.
Price History
Wallace Home Price Trend
City Comparison
Wallace vs. National Median
At $222,035, homes in Wallace cost 46% 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
$44,407
on $222,035
Monthly P&I
$1,158/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,471/mo
incl. taxes & insurance
Income Needed
$58,840
gross annual (30% rule)
10% Down Option
$22,204
+ PMI applies
Loan Amount (20% dn)
$177,628
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, NC?
The median home value in Wallace is $222,035 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 2.4% year-over-year.
How much have home prices changed in Wallace?
Over the past year, home values in Wallace have increased by 2.4%. Over five years, prices have risen approximately 41.7%.
How much do I need to earn to buy a home in Wallace?
To comfortably afford the median home price of $222,035 with a 20% down payment ($44,407) at today's rates (6.8%), you'd need a gross annual income of approximately $58,840. 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 $222,035, homes in Wallace are 46% below the national average.
What metro area is Wallace part of?
Wallace is part of the Wilmington, NC metropolitan area. Home prices and market conditions can vary across the broader metro region.