Wallace, Michigan.
Typical home $220,032 (+2.2% in a year). Marinette, WI-MI metro.
to buy the typical home at today's mortgage rate — +$515 (+81%) since Feb 2022.
- 1 year
- Up $4,633 +2%
- $215,399$220,032 since Sep 2025
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$1,155
- Michigan$1,384
- United States$1,922
Typical home values in Wallace, MI rose 2.2% over the past year — faster than the nation's +1.2%.
Living in Wallace, Menominee County, Michigan
The Census does not count Wallace on its own, so the figures here are Menominee County's. Half the county's households earn more than $56,435 a year and half less; 12% of the county's people live below the poverty line. 81% of the county's homes are lived in by their owners and 19% are rented. Unemployment in Menominee County was 4.1% in August 2026, and the county had 0.5% fewer jobs in 2025 than the year before. The most people in Menominee County work in manufacturing, then schools and health care.
Written by AI Claude Haiku 5.5 wrote this on 22 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 It can be wrong or out of date.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 small town in Menominee County, in Michigan's Upper Peninsula, close to the Wisconsin line. Most of the county's residents own the homes they live in, and the community is an older one, with many people past middle age. Winters here are colder than in most of the country, while summers are warm and pleasant.
Work. Many residents work in manufacturing, in schools, hospitals and social care, in shops, and in restaurants, hotels and entertainment. The county's job count dipped slightly last year, and unemployment is a little lower than it was a year earlier. Commutes are fairly brief, and few people work from home.
Things to do. The DeYoung Family Zoo is in or beside town, so it is an easy outing for families and visitors. Little Cedar River is a short drive away and suits anyone who enjoys time by the water. Lake Noquebay and Peninsula State Park are a longer drive away, and both are good places for a day outdoors.
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- 10,361households
- 49.6median age
- 18%of adults have a degree
- 12%below the poverty line
- 23 mintypical commute
- 8%work from home
What people in Menominee County work in
Employed residents by industry, from the Census survey. Menominee County had 7,115 jobs in 2025, 0.5% fewer than the year before (Bureau of Labor Statistics).
Weather through the year
Coldest in January, with highs near 27° and lows near 5°; warmest in July, with highs near 81° and lows near 54°.
Average daily high and low, 1991–2020, at the Stephenson 5WSW weather station, 8 miles away (NOAA).
Largest workplaces in Menominee County
- Caterpillar Fluid Transfer Solutions - MenomineeFluid power hose assemblies manufacturing439
- L.E. Jones CompanyGasoline engine parts, mechanical, automotive and truck, manufacturing377
- Menominee Area Public SchoolsSchool district199FTE
- Enstrom HelicopterAircraft manufacturing157
- Advanced Blending SolutionsPlastics working machinery manufacturing113
- Jack's Fresh Market107
- Fibrek Recycling U.SPulp manufacturing without making paper100
- Wendricks TrussTrusses, wood roof or floor, manufacturing82
Staff on average in 2025, as each workplace reported it to OSHA with its injury records: 24 workplaces with 20 or more staff, 2,091 people in all. School districts come from the Common Core of Data (NCES, 2023–24); 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
- Cold wavesRelatively moderate
- LightningRelatively moderate
FEMA’s National Risk Index (December 2025) rates the risk each natural hazard poses to the people, buildings and farms across Menominee County, against the rest of the country; all of them together, relatively low. 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 Menominee County and the Marinette, WI-MI metro.
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$220,032
- Michigan$263,760
- United States$366,157
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
Homes for sale
Active for-sale inventory. More supply hands power to buyers.
- Wallace10
New listings per month
Sellers arriving at the market.
Not enough data to draw this yet.
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.
Zillow publishes no zip-level series with this city on the address.