Cost of Living in Wallace, NC

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16%
Overall NAT. AVG.
2%
Groceries NAT. AVG.
55%
Housing NAT. AVG.
Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.
The cost of living index is based on a national average of 100. For example, if the cost of living score is 90, then the estimated cost of living is 10% lower than the national average. If the score is 110, then the estimated cost of living is 10% higher than average. The overall index is calculated using weighted estimates across major everyday expense categories, including housing (30%), groceries (16%), transportation (12%), healthcare (10%), utilities (8%), lifestyle and entertainment (8%), household expenses (8%), and education and childcare (8%). All values are AI-assisted city-level estimates designed for directional comparisons.
Index Wallace North Carolina National
Cost of living8496100
Groceries102100100
Health care10199100
Housing4588100
Transportation10299100
Utilities10199100
Lifestyle & Entertainment101100100
Household Items100100100
Education & Childcare100100100
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Homes For Sale In Wallace, NC

property for sale

116 Magnolia Bay Ln

Wallace, NC
property for sale

150 Red Fox Run Dr

Wallace, NC
property for sale

136 Sugar Maple Ct

Wallace, NC
property for sale

164 Friendly Dr

Wallace, NC

Cost Of Living Quick Facts

  • The cost of living in Wallace is 12% lower than the North Carolina average
  • The cost of living in Wallace is 16% lower than the national average
  • Wallace housing is 55% lower than the national average
  • North Carolina general sales tax is 7% lower than the national average
  • North Carolina state income tax is 83% higher than the national average

Most Affordable Places to Live in and Around Wallace

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Compare Wallace, NC Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
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      Health care index
      Housing index
      Transportation index
      Utilities index
      Lifestyle index
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      Educare index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$76,983$6,415$1,796$2,310
      Renters$50,157$4,180$1,170$1,505
      A good way to judge both the affordability of the housing and the cost of living in Wallace is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Wallace has a median income of about $76,983 for people who own homes. Based on that number, a maximum of $1,796 should be spent on expenses related to housing. Renters have a slightly different median income, which is $50,157. Based on this average, renters should spend no more than $1,170 on all rental costs if they want to maintain a non-impoverished standard of living.

      North Carolina Sales Tax

      State General Sales Tax With Max Surtax
      North Carolina 4.75% 7.5%

      North Carolina Income Tax

      State Income Tax (Low) Income Tax (High)
      North Carolina 4.75% 4.75%

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Ivanhoe, NC238991.3%
      Delway, NC311010.7%
      Magnolia, NC1,3158118.9%
      Greenevers, NC9278515.1%
      Beulaville, NC1,7038614.3%
      Wallace, NC3,9638415.7%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Las Lomas, CA3,96415857.6%
      Dana, NC3,964973.4%
      Morrison, IL3,9618712.7%
      Wintersville, OH3,9618811.8%
      Rocky Ford, CO3,965909.7%
      Wallace, NC3,9638415.7%
      Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.
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