Wallace, Nebraska.
Typical home $128,736 (+12.9% in a year). North Platte, NE metro.
to buy the typical home at today's mortgage rate — +$298 (+79%) since Jan 2020.
- 1 year
- Up $14,746 +13%
- $113,990$128,736 since Sep 2025
- 5 years
- Up $12,228 +10%
- $116,509$128,736 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$676
- Nebraska$1,461
- United States$1,922
At the last five years' pace, a typical home here doubles in price every 35 years.
Typical home values in Wallace, NE rose 12.9% over the past year — faster than the nation's +1.2%.
Living in Wallace, Lincoln County, Nebraska
Wallace is a village of 318 people in Lincoln County. Half its households earn more than $63,125 a year and half less, against $65,148 across Lincoln County; 3% of its people live below the poverty line. Unemployment in Lincoln County was 2.5% in August 2026, and the county had 3.4% more jobs in 2025 than the year before. The most people in Lincoln County work in schools and health care, then transport and warehouses.
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 It can be wrong or out of date.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 village in Lincoln County, Nebraska, the sort of place where residents are likely to know one another. Household incomes run a little below the county's, and few people live below the poverty line. Homes here are modestly priced, and winters are cold and snowy, with summers that turn properly hot in July.
Work. Residents work mostly in schools, hospitals and social care, in transport, warehouses and utilities, in shops, and in restaurants and hotels. Across Lincoln County, the biggest employers include Great Plains Health, Mid-Plains Community College and North Platte Public Schools. Unemployment across the county is low and has barely moved from a year earlier, and the county has gained jobs over the past year. A small group of residents work from home.
Things to do. Grant City Park is the best known place nearby, a park a longer drive away. The Neville Center for the Performing Arts, a theatre, is also a longer drive away and gives a reason to make an evening of a trip out.
Report a mistake
- 3%below the poverty line
- 6%work from home
What people in Lincoln County work in
Employed residents by industry, from the Census survey. Lincoln County had 15,243 jobs in 2025, 3.4% more than the year before (Bureau of Labor Statistics).
Weather through the year
Coldest in January, with highs near 39° and lows near 13°; warmest in July, with highs near 89° and lows near 60°. About 22 inches of snow and 21 inches of rain and melted snow a year.
Average daily high and low, 1991–2020, at the Wallace 2W weather station, 2 miles away (NOAA).
Largest workplaces in Lincoln County
- Great Plains HealthGeneral hospital983FTE
- Mid-Plains Community CollegeTwo-year college686
- WalmartRefrigerated warehousing and storage671
- North Platte Public SchoolsSchool district541FTE
- Sustainable BeefBoxed beef produced in slaughtering plants515
- WalmartWarehouse clubs and supercenters385
- Linden CourtSkilled nursing facilities178
- North Platte TerminalTransportation motor freight transportation trucking except air167
Staff on average in 2025, as each workplace reported it to OSHA with its injury records: 37 workplaces with 20 or more staff, 3,456 people in all across the county; Wallace has two of its own. Hospitals come from their Medicare cost reports (CMS, 2023), colleges from IPEDS (NCES, 2023–24) and school districts 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
- HailVery high
- Winter weatherVery high
- DroughtRelatively high
- Strong windRelatively high
- Cold wavesRelatively high
- TornadoesRelatively high
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, relatively moderate. 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 Lincoln County and the North Platte, NE 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$128,736
- Nebraska$278,299
- 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.
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.