Wallace, Idaho.
Typical home $260,938 (+2.6% in a year).
to buy the typical home at today's mortgage rate — +$837 (+157%) since Jan 2020.
- 1 year
- Up $6,512 +3%
- $254,425$260,938 since Sep 2025
- 5 years
- Up $33,199 +15%
- $227,738$260,938 since Sep 2021
Monthly payment to buy the typical home
Home value × that month's 30-year mortgage rate, 20% down, principal and interest. This is the line households feel: prices and rates compound each other.
- Wallace$1,370
- Idaho$2,502
- United States$1,922
At the last five years' pace, a typical home here doubles in price every 25 years.
Typical home values in Wallace, ID rose 2.6% over the past year — faster than the nation's +1.2%.
Living in Wallace, Shoshone County, Idaho
Wallace is a city of 791 people in Shoshone County. Half its households earn more than $51,492 a year and half less, against $55,527 across Shoshone County; 20% of its people live below the poverty line. Unemployment in Shoshone County was 4.0% in August 2026, and the county had 1.8% more jobs in 2025 than the year before. The most people in Shoshone County work in schools and health care, then shops.
Written by AI Claude Sonnet 5.5 wrote this on 23 October 2026 from the figures here, a list of nearby places and what it knows. It can be wrong or out of date.
What it’s like
The place. Wallace is a very small city, with far fewer people than most towns that have their own city hall and schools. Household incomes run below the county's, and a larger share of residents live below the poverty line than is typical. The typical home is worth more than the town's incomes might suggest, and fewer adults hold a four-year degree than across much of the country.
Work. Residents work mostly in schools, hospitals and social care, followed by shops, restaurants and hotels, and farming, forestry and mining. Across Shoshone County, the largest workplaces include Shoshone Medical Center, the Wallace District school district, and Walmart. Unemployment in the county is a little lower than a year ago, and the county has added jobs over the past year. A fair number of residents work from home.
Things to do. Winters are cold and very snowy, which suits the ski areas nearby: Silver Mountain and Lookout Pass Ski and Recreation Area, each a longer drive away. In warmer months, summers are mild, with the warmest days in July. Coeur d'Alene National Forest and St. Joe National Forest, both protected forest land a longer drive away, offer room for walking and time outdoors.
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- 417households
- 20%of adults have a degree
- 20%below the poverty line
- 13%work from home
What people in Shoshone County work in
Employed residents by industry, from the Census survey. Shoshone County had 4,923 jobs in 2025, 1.8% more than the year before (Bureau of Labor Statistics).
Weather through the year
Coldest in December, with highs near 33° and lows near 24°; warmest in July, with highs near 81° and lows near 51°. About 76 inches of snow and 37 inches of rain and melted snow a year.
Average daily high and low, 1991–2020, at the Wallace weather station, under a mile away (NOAA).
Largest workplaces in Shoshone County
- S & W OpsSki lodges and resorts with accommodations193
- WalmartWarehouse clubs and supercenters168
- Kellogg Joint DistrictSchool district156FTE
- Shoshone Medical CenterCritical access hospital91FTE
- Wallace DistrictSchool district78FTE
- Kellogg of CascadiaHealthcare76
- F & BFamily restaurants, full service70
- Silverton of CascadiaNursing home64
Staff on average in 2025, as each workplace reported it to OSHA with its injury records: 7 workplaces with 20 or more staff, 655 people in all across the county; Wallace has none of its own. School districts come from the Common Core of Data (NCES, 2023–24) and hospitals from their Medicare cost reports (CMS, 2023); FTE marks full-time equivalent staff. Not listed: many offices and banks, which need not report to OSHA; military bases, whose staff OPM withholds; and, in about half the states, city and county governments.
Natural hazards
- Inland floodingVery high
- Winter weatherVery high
- AvalanchesRelatively high
- Ice stormsRelatively high
- Cold wavesRelatively high
- LandslidesRelatively moderate
FEMA’s National Risk Index (December 2025) rates the risk each natural hazard poses to the people, buildings and farms in Wallace’s census tracts, against the rest of the country; all of them together, very high. It is meant for planning, not a substitute for a local risk assessment or a flood map: FEMA’s index.
From the U.S. Census Bureau’s 2020 census and its American Community Survey (2020–2024 five-year estimates), and the Bureau of Labor Statistics. A survey, so each figure has a margin of error, and figures it is not sure of are left out. More on Shoshone County.
Wallace home values
Zillow measures a city over its municipal boundary. Against the state and national figures, mid-tier homes, smoothed and seasonally adjusted.
- Wallace$260,938
- Idaho$476,754
- United States$366,157
Sellers are cutting prices on about 1 in 3 Wallace listings — the market is roughly in balance.
When this market ran hot
Each cell is that month's year-on-year home-value growth. Read left to right, top row is the latest year — the 2021–22 band is the boom.
Market heat, inside the city limits
Share of listings with a price cut
The early-warning dial: sellers cut when buyers stop reaching. Rising cuts cool a market months before prices notice.
- Wallace35.84%
- United States26.36%
Homes for sale
Active for-sale inventory. More supply hands power to buyers.
- Wallace19
Zip codes with a Wallace address
A different geography, not a breakdown. The figure above covers the municipality; these zips cover everywhere the Post Office calls Wallace — often including townships beyond the city limits. Both come straight from Zillow, and they are not expected to average out.